Question

Miles and Nina Baron both graduate students, moved into an apartment near the university. Nina wants to buy renters insurance, but Miles thinks they don't need it because their furniture isn't work much. Nina points out that, among other things, they have some expensive computer and stereo equipment. To help the Barons resolve their dilemma, suggest a plan for deciding how much insurance to buy, and give them some ideas for finding a policy.

Answer 1

ANSWER:

As Miles and Nina were moved on to their new appartment near university where Nina wants to buy the renters insurance. The renters insurance is that covers the all the personal belongings of the tenants and save them from the loss of fire, theft and many other accidental damages but the cost to buy such renters insurance is more depends on your coverage and the premium you pay on it. It would be better to buy the renters insurance but you must covers the expensive items like computer and stereo system.

As per the Insurance Information institute it would be better to buy renters insurance with limited coverage policy and other policy are property insurance which covers all the things including renters insurance but the property insurance would be costly as more premium needs to pay in property insurance.

Another one is homeowner insurance such insurance is typiclly for the owners and the tenants it covers all the things related to home damage but not covering act of god damages. If the cost of computer and stereo system is available than the renters insurance with the less coverage policy is best option with low cost. Miles and Nina can find such policy from my insurance companies as well as with insurance agents.