In Case of Sharknado, You're Covered

Consumer News recently asked those at the Insurance Information Institute if insurance policies would cover a Sharknado. Good news! most accidents that could occur in the event of this Syfy based catastrophe would actually be covered under a standard policy.

For example, the tornado itself is actually considered a wind event along with hurricanes. The falling sharks, on the other hand, that are creating a brand new type of disaster are considered "falling objects." Apparently, a falling asteroid falls into the same category under homeowners insurance.

Basic comprehensive coverage on your vehicle can protect you from the damage that will occur from the Sharknado's violent winds. This could also protect your car or truck from "animal damage;" although, your agent probably never thought of falling sharks when you asked for comprehensive coverage in the beginning.

The group also asked about any missing limbs that might be chomped off in the event a falling shark decided to eat you on its imminent fall to the ground. This would have to be a claim filed under your health insurance. Hopefully, this would only happen as a freak accident, though. Who would actively seek out to fight a Sharknado?

All About Renters Insurance

Many people believe that in order to have insurance for their personal living space and personal articles inside that they must own their own home or condo. This is not the case at all. Renters insurance exists to protect renters in the same manner that it protects homeowners. Whether you live alone or live with roommates, having renters insurance is important in protecting your property from accidents, natural hazards, and thefts.

How Renters Insurance Works

Just like homeowners insurance, renters insurance protects you from financial losses such as a burglary or a fire. This will usually include personal liability insurance that will protect you from lawsuits or medical bills that might result if someone is injured or harmed in your home. 

It is important to know exactly what your policy will cover as some types of protection like for floods and earthquakes are not standard. If you live in an area that is prone to certain types of weather patterns, it is wise to get extra coverage included in your renters insurance.

Where to Search for Renter's Insurance

One of the best places to start your search for renters insurance is online. You can check out numerous websites such as Main Line Insurance in Paoli, PA to get an idea of what they cover under a policy. There is also usually an option to get a quote on most websites. This will include providing your location, what type of dwelling you live in, and your age among other factors. 

If you are adding a renters insurance policy to existing policies, depending on your provider you might be able to receive a discount for having multiple types of insurance. Once you get a quote from one company, call other agents in the area to see what the competitive prices are that offer all you will need.

Renters Insurance Limits

There are usually limits that exist for certain types of items with renters insurance. It is important to make sure that your items can be covered under the specific policy limits concerning different types of personal items. If you have something that goes over the allowed limit, talk to your agent about "scheduled items." These are items that will allow you to get additional coverage for an additional fee.

Create an Inventory

When a disaster happens, it is important to be prepared. In order to file a claim with your insurance agent, you will need to verify what happened and what was lost. This means having an inventory of items you want covered prepared ahead of time. This should be of everything you own - especially your expensive items.

Your inventory list will help your insurance agent determine how much money you will receive. It is important to fill this list out when you first find your agent. Whenever you make large purchases, you should update your list so your agent will have it on file what you own. Taking pictures of your place to accompany the list is also a good way for your agent to see what you own.

Resources: Kiboo