CasaSugar

If You Rent, Do You Have Renter's Insurance?

CasaSugar — Tue, 20 Nov 2007 04:10:32 -0800

Unfortunately, if you rent, your landlord's insurance policy does not cover your personal property. Renter's insurance provides liability protection against accidents (injuries, property damage), as well as financially damaging events like fires and theft. Compared to the amount of property you could lose in these cases, rental insurance is pretty cheap. Have you ponied up to protect yourself?

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Primer: Renter's Insurance

CasaSugar — Fri, 10 Aug 2007 10:45:00 -0700

I bought a renter's insurance policy when I moved into my first apartment out of college, and I've since become a sort of evangelist for the cause. It's so cheap and easy to protect all of your belongings from theft, fire, and water damage, yet most of the renters I know still don't have insurance. (Note: Policies do not cover natural disasters like earthquakes.)

Even if your most prized possessions seem frivolous - a $400 pair of shoes, a portrait of John Krasinksi -that doesn’t mean you don’t deserve to have them replaced. Here are five things you need to know about renter's insurance.

Getting a policy is incredibly easy. You can go online to obtain quotes from most providers, including State Farm, AAA, and Geico, then follow up with an in-person meeting to do the paperwork. The whole thing takes less than an hour.
It's also incredibly cheap: If you're a single or co-habitating apartment-dweller, your rate will probably be between $150 and $250 a year. That's about $20 a month or less.

Three more renter's insurance insights, so read more

A policy insures your stuff, not your place. If your landlord has insurance on the building, it won't do you any good if you lose your possessions in a fire. But since it's not tied to a specific apartment, it's easy to transfer the policy when you move.
There are two ways to get cash. You can opt for actual cash value coverage, which pays out according to the current value of the lost items, or replacement cost coverage, which considers how much it would cost to replace all of your possessions if you bought them brand new.
Use photos to itemize. A renter's policy isn't itemized; it covers a lump sum based on the estimated worth of your possessions. So you should also take photos of the items covered by your policy and keep them somewhere safe besides your house. That way, if something does happen, you’ll have proof to show the insurance company.

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10 Tips For Short-Term Rental and Sublet Agreements

CasaSugar — Fri, 09 Jan 2009 07:00:23 -0800

Did you know that Washington DC residents are renting out their homes for the Jan. 20 presidential inauguration? Residents can stand to earn a pretty penny: the pictured home is renting for $550 a day! The practice is becoming so popular that there's even a website dedicated to the cause. Whether you're a DC resident looking to rent out your house for inauguration weekend, or a homeowner or renter who'd like to do a short-term sublet for an upcoming vacation, it's better to be safe than sorry when offering your home to a stranger. Douglas Culkin, president of the National Apartment Association, notes that, "By taking some basic precautions, people can leave their homes feeling like they have done their due diligence to ensure a smooth renting experience.”

To see tips from the National Apartment Association, read more.

Draw up a basic, legally binding agreement to secure payment that includes a damaged property clause. Get 50 percent deposit in advance.
Give strong consideration to doing a background check of the resident. It costs about $30 to $40 and can be done in minutes. Search for “resident screening” to find a vendor. Incorporate the cost of the screening into what you are charging for “rent.”
Make sure you're protected with insurance - if someone injures themselves in your home you may be liable. Check your policy.
If you currently rent your home and are thinking of sub-letting it for the week, check with your landlord to make sure you are legally allowed to do so before you post your advertisement.
Make a duplicate set of keys. Send them via an insured carrier service but do not include your home address anywhere in the package, in case it gets lost or stolen before reaching its intended recipient.
Change the locks after they leave. Incorporate this cost into what you charge for rent.
What about pets? If your lease agreement allows them, you'll have to decide if you want to let a renter bring their pet for the week, but be clear if no pets are allowed so there are no surprises upon your return.
As a courtesy, alert your neighbors, who will see strangers entering and exiting your home during their stay, so they don't call the police.
You'll exchange emergency numbers with your renters, but in case you are not immediately reachable, leave a second local emergency contact number, especially if you plan to leave the area.
Clean out the fridge, make some closet space, etc. Schedule to have a cleaning company come before the renters arrive and after they leave. No one wants to see the other's leftovers.

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Ask Casa: A Home Security System for My Rental? (Part 2)

CasaSugar — Thu, 15 Nov 2007 16:00:22 -0800

Recently Arielb38 wrote to me asking about whether or not a home security system was necessary for her new rental home. You can read the first half of my response here.

To see the rest of my tips, just read more

Are all of your window and door locks in working order? When you move into a rental unit, the landlord should be willing to either change the locks or have the tumblers replaced. If he or she is not, invest the money and do it yourself. Many communities now require rental properties to have deadbolts that can only be opened with a key. Check your local and state rental laws and request that your landlord meet these standards.
Additionally, if you live in a sketchy neighborhood, you may want to request that your home has bars installed on ground-floor windows. Though not the prettiest to look at, they do deter theft.
Make friends with your neighbors - they are your best allies in keeping your neighborhood safe. Join or consider founding a neighborhood watch organization in your building or on your block.
Buy renters insurance! It's cheap (as little as $150 a year) and is a small price to pay if you lose your belongings due to theft or natural disasters, such as a fire or earthquake. Most major insurance companies underwrite renters policies, and many online insurers specialize in providing coverage to renters.
If you still need a security system, and your landlord won't work with you to provide one, look into the company Protect America, which recently began offering its wireless GE home security systems with an innovative program that allows renters to take the system and the monitoring service with them when they move.

Good luck with your move, and be safe!
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Casa Capsule: The Week That Was

CasaSugar — Sat, 11 Aug 2007 05:00:16 -0700

You guys are even more excited than I am about the 2008 Ikea catalog.
For more upscale eye candy, check out Christian Lacroix's home wares for La Redoute.
Are you a renter without renter's insurance? Well, get some already!
Brighten your walls with a trendy starburst mirror.
Or try some decal-icious wall decor for commitment phobes.
Craving a challenge? Help our dorm-dwellers outfit their digs.

Link Time!

CasaSugar — Fri, 21 Mar 2008 09:45:22 -0700

Curbly advises you to use kitchen items for decluttering.
AT:SF revisits renters insurance.
2Modern chats about Art Dubai 2008.
Desire to Inspire showcases Stephen Shadley.
Girl Meets Glamour rounds up some plumage-covered pillows.
More Ways to Waste Time is wanderlusting for Portland.
FitSugar offers tips on a healthier Easter basket.
SFGirlByBay takes a look at photographer Alicia Bock.
FreshPinkStyle brings us a pleasing pink palette for the home

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