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I have thousands of dollars' worth of gear in my apartment and I would like to insure said gear against theft, fire, and what-have-you. There are a few different insurance companies in town, but only one with offices near where I live. I'm going to call them soon (like, say, tomorrow) to see about getting a quote. What sorts of questions do I need to ask? I've never had this sort of insurance before, because I've never had a place of my own before. Premiums and deductibles, obviously, yes. Am I likely to be presented with a range of options, or just a flat "take it or leave it" quote?
It's also likely that sometime this sumer I will become the owner of a well-maintained 1999 Toyota Camry and will require insurance for it. Should I ask them about this now or wait until it's closer?
On a completely unrelated note, should I go see Sin City tonight?
Posts: 10886 | Registered: Feb 2000
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posted
I don't know how much different insurance is in Canada vs. the US. But you don't necessarily need to go with someone entirely local. Hopefully they are a national company with a local branch. That tends to increase the likelihood should something happen that you will actually get money to cover it, even if there are a few more layers of Beuracracy.
Basically you are shopping for "renters insurance" You ask them up to what monetary amount the policy will cover, and do you need to add policy riders for things like the clavinova, and any other specific expensive object (normally they'll ask about jewelry.) Then you ask them, for their auto insuranc quotes, and do you get a percentage discount for carrying both renters and auto insurance with the same company (most places do) Go ahead and get a quote on the prospective car too.
But definitely shop around. You aren't in any way obligated to sign with the first company you talk to. And they should be able to give you first order estimates over the phone.
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I'm surprised actually that the place you are renting from, didn't require proof of renters insurance before you signed the lease. It's becoming a rather common thing.
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I had basic renter's insurance as a rider on my auto policy, back when I rented. So I would definitely bring up the possible car purchase, as I think renter's insurance is probably a pretty small thing for them, and they'll be more interested if they know you'll be looking for more insurance soon.
As far as "take it or leave it" they should give you a range of options for different coverage, and you pick the coverage level you want. There will probably not be "haggling" on the price within the options. But I certainly agree with AJ about getting multiple quotes.
Posts: 7954 | Registered: Mar 2004
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posted
The provinical law in Ontario says that they can't require me to have renter's insurance. The company that owns my building claims to require renter's insurance, but seeing as how that's against the law, I wouldn't have to get renter's insurance if I didn't want it anyway.
Posts: 10886 | Registered: Feb 2000
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posted
Not sure on Canadian v NZ insurance law but make sure you tell them EVERYTHING. If there's a question that says "any further information you think might be relevant" - tell them anything you can think of. And then tell them to contact your landlord if they have any further questions - they probably won't, but at least they can't say "you didn't tell us X", when it might be something you didn't know but your landlord did. You have a positive duty of full disclosure on formation of the policy (and at renewal) and you really don't want it to be void ab initio due to non-disclosure when you go to make a claim.
(In saying that, you shouldn't have too much trouble there with contents insurance, it's usually auto, house, or business that the problems arise. And I imagine you have no convictions, which are a common non-disclosure thing. Er, yeah. Anyway. Still though - a lot of people don't want to tell all the facts in case their premiums will be higher, but it's far better to have higher premiums than what would be essentially no insurance - even though you think you're insured. )
...Hope that all makes sense, sorry, rushing to study for an exam (guess what exam ). Good luck!
Posts: 1431 | Registered: Aug 2003
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I indeed have no convictions, though when it comes time for car insurance obviously I'll tell them about the one accident on my record.
Posts: 10886 | Registered: Feb 2000
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