Hi Buddy,
Even though tenants reside in rental houses, they should still get tenant insurance. If they are the owners of the household goods, they would suffer a monetary loss if those goods were misplaced, stolen, or harmed. Alternately, the renter is financially responsible for ensuring that the owner’s contents are not harmed. They might be required to reimburse the landlord for any damage or theft to the contents. Renter's insurance, and learning how much does tenant insurance cost, is useful in this situation.
Click here to pay your utility bills using credit cards through NoBroker and earn reward points on your card.What does renters insurance imply:
The contents of the home where a tenant resides may be lost or damaged, and this is covered by a renter's insurance policy. These are home insurance plans that only provide coverage for the home's contents. The reason they are termed renter's insurance is that tenants typically get a home insurance policy that covers their belongings.
How much does the tenant liability insurance cost?
A renter's insurance policy's premiums are determined by several variables. The list is as follows:
The premium is influenced by the contents' worth, which must be insured. The premiums would be high if the value was high.
The premium is directly impacted by the risks that the property faces as a result of its location, age, safety and security features, etc. If add-ons are chosen together with the basic insurance, the premiums will rise if the risk is considered to be high.
However, one of my friends opted for the HDFC ERGO home insurance, which was Rs. 250 per annum. Also, when I was researching the same, I discovered Policy Bazaar was providing home insurance and the renters insurance cost was Rs. 125 per annum.
I would like to conclude my answer here about how much does tenant insurance cost. I hope this helps:)
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How Much does Tenant Insurance Cost?
ramit
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2 Year
2022-07-21T17:50:34+00:00 2022-07-21T17:50:35+00:00Comment
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