Auto Renters Insurance and Bodily Injury Liability Per million
Shopping for auto and renters insurance can be a daunting task. However, there are many things you can do to make it easier on yourself. The first thing to do is to understand what auto and renters insurance is. Basically, auto insurance protects you when you are driving a car. There are two types of auto insurance, liability insurance and personal injury insurance. Typically, all auto and renters insurance comes with a deductible, which is the amount you pay when you file a claim with your insurance company.
Another way to save money on auto and renters insurance is to get your coverage and auto policies together. Most insurance companies offer discounts if you purchase your policies together. So, if you already have homeowners, life, and automobile insurance, why not combine your policies? Additionally, if you are a landlord or tenant, your landlord/tenant may offer you a multi-policy discount. If you already have homeowners, life, and automobile insurance through more than one company, ask your landlord or tenant if they would be willing to offer you a multi-policy discount.
Renter’s insurance is somewhat different than homeowner’s insurance. In order to qualify for the renter’s insurance discount, it must be required by the rental agreement. Some common types of coverage offered are personal liability coverage, personal property protection, and rental vehicle protection. The deductible is often an area of savings. Some insurance companies will increase your deductible, lowering your monthly premium but increasing your total coverage to compensate for that deductible.
Auto and renter’s insurance policy cover both collision damage and comprehensive coverage. Collision damage is the damage incurred to your vehicle due to a collision with another vehicle or object. Comprehensive coverage is damage caused by fire, theft, vandalism, or an act of nature. The cost of this coverage will depend on the amount of deductibles you choose to carry and the value of the car or other vehicle involved in the collision. You can usually reduce your premiums by installing anti-theft devices.
Most renters policies will provide you with some coverage for your belongings. Most policies provide coverage for your personal items, clothing, furniture, appliances, computers, jewelry, expensive jewelry, antiques, and sports equipment. Some companies will also provide coverage for other possessions lost or stolen during the time you rent your place. Usually, all of these types of coverage will be provided as part of a package. If the rental company does not offer you rental reimbursement, it may be possible to purchase separate coverage from individual insurance companies.
The limits of your auto insurance policy will be determined by the type of coverage you select. The liability coverage limits are generally the most expensive of the three types of coverage. Liability coverage is designed to pay for any medical expenses that occur as a result of you being injured in a car accident. It does not pay to fix your vehicle. If you own the car, you will be responsible for paying the repair costs.
Bodily injury liability per million is the maximum amount that your insurance company will pay if your body is injured or killed in a car accident. This type of coverage limits the amount of money that you will be compensated for bodily injury. To determine your pay out amount, divide the total compensation paid out by the number of persons injured. The lower the number of persons injured, the less your bodily injury liability per million policies will be.
Auto and renters insurance can be purchased from just two companies. However, before you purchase your policies from just two companies you should take a good look at what each offers. Comparison shopping will allow you to get the best deal possible on your auto and renters insurance. Choosing coverage from just two insurance companies will have you paying much more for your insurance than you need to be.