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How to Compare and Choose a Renters Insurance Provider
The average cost of renters insurance is about $42 a month, but the price of a renters policy can vary, and it shouldn’t be the only thing you take into consideration when picking a renters insurance provider.
You’ll also need to consider how much coverage you need when comparing renters insurance providers. A standard renters insurance policy will cover personal property, personal liability, loss of use, medical payments and legal fees if someone is injured on your property, and additional expenses for relocation. When you’re shopping for renters insurance quotes, make sure to enter the same limits of each type of coverage to get an accurate comparison.
homeowners insurance as well. But there are ways to save money on the latter.
Most mortgage lenders require you to have homeowners insurance policies for as long as your mortgage term lasts. Even if you don’t have a mortgage, it’s still a good idea to protect the equity you’ve built in your home with insurance, experts say.
“Homeowners insurance covers your house, your belongings, and typically additional expenses for temporary housing if your house is damaged,” says Ken Gregg, CEO of Orion180, an insurance provider that specializes in homeowner insurance in the Southeast. “You want an insurance company that offers appropriate coverage limits to fit your needs and has the financial means to pay out claims.”
Credit-Based Insurance Scores – The Battle Heats Up By Jerry Theodorou | May 20, 2021
Earlier this month, the Colorado Senate passed a bill prohibiting insurance companies from using any external consumer data and information source, algorithm or predictive model for insurance premium calculation found to be unfairly discriminatory.
Two weeks prior, on April 28, Washington State Insurance Commissioner Mike Kreidler sent a letter to members of the National Association of Insurance Commissioners, urging them to bar insurers in their states from using credit-based insurance scores in insurance premium calculations. At the end of March, Kreidler signed an executive order introducing such a ban in Washington for auto, home and renters’ insurance. Other states, including Maryland, West Virginia, Illinois, Oklahoma and Louisiana, have all seen legislative activity around the same restrictions of credit-related information. As even more states conti