Month: December 2020

Your apartment or home in Pomona, CA is everything you imagined. Not only is there enough space for everyone in the family, but there are added perks that make you want to return to your living quarters after a long day of work. Renters insurance’ may or may not be required by your landlord, but such coverage is certainly a necessity. The agents at THINK Insurance & Financial Services can help you understand the value of a good policy. 

What does renters’ insurance cover?

Renters’ insurance acts as a home insurance policy. A good plan may pay for lost or damaged items inside the unit as well as damages to the structure. A renters’ insurance policy does not cover certain aspects of plumbing and leaves out personal injuries sustained outside of the residential unit. A landlord’s insurance policy should cover these incidents. 

Is renters’ insurance required in California?

There is no state law requiring renters to obtain a renters’ indemnity plan. Some landlords, however, require tenants to purchase insurance as part of their lease agreement. 

You do well to buy a renters’ insurance plan even if your landlord does not require proof of a policy. A good indemnity plan can protect you from financial loss when your landlord’s insurance fails to cover all of your expenses when an incident takes place. You can also depend on a good renters’ insurance policy to pay if a guest at your home is injured inside the residence. 

Purchasing renters’ insurance is not required by state law in California. You should, however, consider a plan if you are renting an apartment or home in Pomona, CA. Call THINK Insurance & Financial Services today to get started with a quote for coverage.

If you own a condo, you need to familiarize yourself with what condo insurance is and how it works. We provide condo insurance policies to condo owners in Pomona, CA at THINK Insurance & Financial Services.

The following are three mistakes you don’t want to make when you purchase condo insurance in California. 

Failing to put enough consideration into the deducible amount

Too many condo owners assume they’re never going to have to file a claim. Therefore, they opt for a lower premium amount and accept a higher deductible. This is never a good idea. 

You need to choose a deductible amount that’s low enough that you’ll be able to afford it out of pocket. It’s worthwhile spending a little extra on monthly premiums if it can significantly bring your deductible amount down. 

Not purchasing enough coverage

You should have enough coverage to cover the value of the possessions you keep in your condo.

If you don’t purchase enough coverage, it could really cost you down the road if you have to file a claim. Make sure that you’ve carefully evaluated your possessions before you choose an overall coverage amount for your policy.

Purchasing actual cash value coverage

There are two major choices when you purchase a home insurance policy: actual cash value coverage and replacement cost coverage. It’s always best to opt for replacement cost coverage.

Actual cash value coverage will factor in home depreciation when compensating you for a claim. This means that actual cash value coverage will provide you with less for your claims than a replacement cost policy. 

We can help you to choose the right condo insurance policy in Pomona, CA. Contact us at THINK Insurance & Financial Services to get started.