HOUSEHOLD INSURANCE. Renter’s Insurance  Protection of personal belongings; also provides liability coverage  Liability: Bodily damage or property damage.

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Presentation transcript:

HOUSEHOLD INSURANCE

Renter’s Insurance  Protection of personal belongings; also provides liability coverage  Liability: Bodily damage or property damage  About $12.00/month

Peril: Something that might cause loss or damage  Explosion  Vandalism  Theft  Volcanic Eruptions  Falling Objects  Water Related Damage  Explosion  Vandalism  Theft  Volcanic Eruptions  Falling Objects  Water Related Damage

Qualifying Event: Situation or event that triggers your coverage  Burglary  Apartment Fire  Burst Pipe

Replacement Cost on Contents Endorsement that insures for actual replacement cost

Total Loss Loss so large that no value is left in the property or posessions. The loss merits paying out the maximum amount on the policy.

Appraisal Evaluation to determine the insurable value of property or to determine the amount of loss

Depreciation Decrease in value of property due to age, wear and tear

Actual Cash Value Present property value replacement cost, minus depreciation

Home Inventory Record of personal posessions

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