Friday, June 22, 2007
Do You Really Need Renters Property Insurance?
If a person is renting a house, an apartment or a condominium unit, the renters property insurance will cover the losses sustained by his or her personal property. The landlord's policy, also called the commercial property insurance, covers only the physical dwelling or the house itself. It does not insure all the contents of the house against fire, theft, flood and other natural disasters. These concerns are left to a renters property package to cover. Also called the tenant's policy, this insurance product offers liability protection covering unintentional bodily injury or property damage caused by the home contents to others.
Unlike the landlord's policy, the renters property insurance is inexpensive if you consider the amount of money and property one stands to lose in the event of a fire, theft or a national disaster. This type of policy offers tenants a means of protecting themselves against unexpected financial difficulties.
A renters' policy covers named perils. This simply means that the policy specifies what a policy-holder is insured against. Some of the more popular named perils are fire, theft, vandalism or malicious mischief. Some companies bundle coverage for national disasters under the heading allied perils, which can include lightning, flood, windstorm and earthquake.
Renters need to clarify whether their policy includes actual cash value or replacement cost. Actual cash value offers to pay for the cost of the property at the time it was damaged or stolen, while replacement cost covers the cost of replacing an item. Replacement cost will have a higher premium but the pay out is more substantial when a claim is made.
It is prudent for renters to declare the particularly valuable items they possess. Expensive items might need an altogether separate rider policy with a separate premium. Renters also need to take a thorough inventory of their belongings prior to taking out renters insurance. It may also be wise to take a video or photographs of their belongings for a more accurate documentation.
If a rented dwelling becomes unlivable due to a fire or any other reason, the renters property insurance will pay for additional living expenses, which basically means that the policy will shoulder the cost of renting another place to live in. Clearly, this type of insurance is a must for renters. We all work hard to acquire the things we like to have and it is only appropriate that we also set aside funds for an insurance that would protect our precious belongings against all kinds of losses.
The Lowdown on GM MasterCard
GM MasterCard would probably be the perfect credit card to have if you are a fan of GM products. With the GM MasterCard, users are able to earn a 5% rebate when they purchase or lease a new SUV, truck or car from General Motors. Also, earnings are not limited to any annual sum. However, rebates that are not redeemed within seven years will expire.
Furthermore, GM MasterCard cardholders should also be aware of the redemption allowance that is permitted for the specific type of GM vehicle. The allowance is dependent on the year of the model, which differs between alternate GM vehicles. Indeed, it is also not uncommon to find redemption allowances to be raised during promotional periods.
Other benefits of the GM MasterCard include the exemption from any annual fees or registration fees, and also 0% introductory rate for balance transfers or purchases made charged to the card within the first twelve months.
Once the promotion period is over, annual percentage rates will vary with each individual in accordance to the applicants credit history. Users with good credit histories are entitled for the lowest possible rates. However, the regular APR of the GM MasterCard is 12.74% for purchase charges and 23.15% for cash advances.
Nevertheless, a minimum cap is applied for credit card transactions regardless of the tie in with the Prime Rate. Also, fees are also payable for cash advances, balance transfers, surpassing the credit limit or for late payments. In return, the GM MasterCard provides its users with protection from unauthorized use of the card, replacements for emergency cash or card, automobile insurance, travel accident insurance of up to $1,000,000 and online access to manage all accounts pertaining to the card.
