I own some high-priced photography equipment. How much personal property coverage does renters insurance provide? You can get from around $10,000 to $250,000 worth of personal property coverage within your renter’s insurance. How much of it you really need depends on the total worth of your personal possessions, your risk tolerance, and your budget. Price-wise, […]
I was pulled over for jumping a red light. Will my red light ticket affect my auto insurance rates? Like any other road incident, red light violation (generally considered a more serious violation than a parking or speeding ticket) can increase your auto insurance rates, but it depends on the insurer and your driving record. […]
This is my first year filing taxes after purchasing a property, and I’m unsure whether mortgage insurance tax is deductible. The legislation of December 20, 2019, makes private mortgage insurance (PMI) – known as mortgage insurance premium (MIP) – deductible and also applies it retroactively for the 2018 and 2019 tax years. American REIAFresh articles, […]
I have a hilltop home with a wonderful view of a pond. However, I’m getting concerned that erosion can eventually harm my house. Do homeowners’ policies cover erosion? Erosion isn’t among the listed perils, so most, if not all, homeowners’ policies won’t cover it. However, you can add erosion coverage as an endorsement to your […]
My parents advised me to consider purchasing renters insurance. But according to the Internet, it is not legally necessary. Should I buy it? Renters insurance isn’t mandatory by law, but landlords have the right to require renters insurance before they rent out apartments or homes. However, whether your landlord requires renters insurance or not, there […]
For the past five years, I’ve had my house insured by the same provider. My insurance rate was increased by $300 last month when I received my renewal notice. How can I lower my home insurance premium? First of all, there must be a reason for an increase in your premium. Possible reasons are: You […]
The prices for new house insurance that I’m researching are very excessive. Can my history of claims be the reason? Do home insurance providers exchange information about claims? Yes, insurance companies exchange claim information, especially regarding home and auto insurance, so your history of claims can be the reason for the plans and premiums you’re […]
I was told that installing a security system on my home could lower my home insurance premium. Is it true? How big a discount can I get? The discount you can get for installing a home security system on your home varies from one insurer to another, ranging from 2% to 20% of your premium. […]
I’m trying to calculate how much I owe in property taxes and homeowner’s insurance on top of my monthly mortgage payment. How are property taxes and insurance determined? The cost of insurance (monthly or annual premium) depends on many factors, including your location, credit score, claim history, marital status, type of house, and many more. […]
I’m trying to understand the amount of home contents insurance I need. For that, I must calculate the value of my home contents. How to do that? When taking out home contents insurance, an accurate estimate of the replacement cost of your home contents – furniture, computers, electronics, TV, jewelry, clothes, appliances, hand-me-downs, and every […]
