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Renter's Insurance/Home insurance?

 
 
Reply Wed 24 May, 2017 09:25 am
Does anybody here have renter's insurance or home insurance (not coverage for the actual home but for furniture, jewelry, electronics, etc...)?

Is it worth the price? I know Renter's Insurance is usually considerably cheaper than home owners insurance.

Just curious. I don't have that much that I'm concerned about (old tv, BluRay player, laptop [my most precious property], no jewelry).

Can anyone simplify the following insurance term:
Quote:
GIVEBACK

As a Lemonade policyholder you will have the right to select a ‘Giveback cause’, thereby joining a virtual group of people who made the same selection. Lemonade uses each group’s premiums to pay their claims and expenses, giving back leftover money to their common cause. While the availability and amount of leftover money is subject to Lemonade’s discretion, and applicable insurance regulations, our stated intention is to calculate the amount of leftover money by subtracting from the group’s collective premium, our flat fee (currently 20%), the costs of claims, a “rainy day fund” and other insurance expenses like reinsurance – and giving back what’s left (up to 40% of the group’s premiums). Giveback is Lemonade’s policy, and expression of intent, but it is not a contractual obligation to you, nor to the cause you selected. We reserve the right to suspend or amend the Giveback policy from time to time.
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Type: Question • Score: 1 • Views: 966 • Replies: 4
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ehBeth
 
  2  
Reply Wed 24 May, 2017 09:30 am
@tsarstepan,
http://www.dfs.ny.gov/consumer/homeown/homeown_006_renters.htm


Quote:
Moreover, if someone becomes injured while on the premises you rent, you could potentially be held liable for any medical and hospital expenses.


your landlord's liability insurance will generally not cover incidents inside your unit.

tenant's policies are generally very cheap and worth it - especially if you are in the US , where medical costs tend to be very high
0 Replies
 
ehBeth
 
  2  
Reply Wed 24 May, 2017 09:33 am
@tsarstepan,
Looks like you're looking at a policy with a clause that provides for a charitable donation (by the policy issuer, not the policy holder) if funds remain at the end of a specified term.
0 Replies
 
ehBeth
 
  1  
Reply Wed 24 May, 2017 09:34 am
@tsarstepan,
tsarstepan wrote:

Quote:
GIVEBACK Giveback is Lemonade’s policy, and expression of intent, but it is not a contractual obligation to you, nor to the cause you selected.



this bit ^ means it's what they intend to do, but not that they are required to do it
0 Replies
 
Walter Hinteler
 
  2  
Reply Wed 24 May, 2017 09:36 am
@tsarstepan,
It's thought to be an essential insurance here in Germany (more than 50% of the population lives in rented flats or houses), a "contents insurance" that covers the loss and/or damage of all household items against fire, tap water, storm, hail, burglary, robbery, vandalism .. . Bike theft is insured as well as damages ("overvoltage") due to lightnings.

It's the very same insurance for rented or owned flats/houses, however.
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