I’m sure the majority of us are always looking for a way to save; whether that be clipping coupons, unplugging electrical appliances and even bundling renters insurance with auto insurance. But what if bundling doesn’t do everything it’s supposed to? What happens to personal belongings when you only think you’re covered?
According to Jay Stoltz, Director of Market Development for LeasingDesk Insurance, renters need to be aware of bundles as they are “common for premium hikes or cancellations based on claims filed”. As an added concern, with the continuing majority of tenants choosing “e-bills”, most wouldn’t recognize a bill change if it did happen when it came to their policies, which leaves property managers, owners, and other landlords open for disaster.
With several different types of coverage’s available, some might not even know that such a small difference in wording, like theft and burglary, can mean a massive difference in what your policy covers.
Becoming knowledgeable should become a top priority when it comes to your policy coverage, and understanding the basics is the first step.
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