Month: March 2021

When you are renting a place to live you need specialized insurance to protect you from a number of disasters and calamities. If you don’t yet have renters’ insurance, call us at THINK Insurance & Financial Services in Pomona, CA to talk to an agent about this must-have insurance type. 

Protecting Your Belongings

Unlike home insurance, renters’ insurance doesn’t cover the building itself. The building is the responsibility of the owner, and they must have insurance for it. As a renter, all you need is a renters’ policy. This will give you financial protection against your belongings being ruined or destroyed. It’s an important type of insurance to have to ensure your quality of life after a disaster happens.

Protecting You Financially

Part of a renters’ insurance policy is coverage for your liability to third parties. If someone were to become injured or ill in your rented home, you may be liable for the conditions that led to it. That’s where renters’ insurance comes in. It pays for the medical bills that are incurred during an incident that you are liable for. This is a much-needed type of financial protection that is far better to have in place than to simply go it alone and hope that an accident or other incident never happens. 

Protecting Your Standard of Living

If your rented home were to have a serious calamity that made your home uninhabitable, your renters’ insurance will pay for you to maintain your standard of living and to live elsewhere while the rented home is repaired or rebuilt. This allows for plenty of peace of mind as you don’t have to worry about what you would do if there were a serious catastrophe.

Talk to an Agent

If you don’t have renters’ insurance in place yet, you need to talk with an agent to learn more. Call us at THINK Insurance & Financial Services in Pomona, CA.

 

 

Buying a condo in Pomona, CA? There are a few things you should know before settling in, and a few myths we’d like to dispel.

1. You’re Covered Through Your Condo Association

Not exactly. Your condo association fees will cover insurance payments, but that is only on the building itself. That means that if the building were to catch on fire, if someone were to drive into it, if it were to be damaged by a storm, then your condo association’s insurance would kick in to cover the losses.

If your condo were to be broken into, on the other hand, the condo association policy would only cover the broken window. The lost items would have to come from your own personal condo insurance policy.

2. I Can Afford To Replace My Stuff, So I Don’t Need Condo Insurance

First of all, your condo association might require you to carry insurance, anyway. Secondly, the real concern is a liability. If someone is injured on your property, you’re going to be the one paying for it if you don’t have a personal condo policy.

3. My Policy Will Cover Tenants

If you’re renting your place out, either temporarily or on a permanent basis, your policy will only cover your tenants if it specifically states that it will. And it probably doesn’t. Your renters will need to get covered on their own renter’s policies. It’s not a bad idea to require this of your tenants.

If you have any questions, get in touch with THINK Insurance & Financial Services. THINK Insurance & Financial Services can get you the coverage you need for your condo in Pomona, CA.