FMB - Insurance and Investment Day (34/2)

About Renters Insurance

Unfortunately, sometimes bad things happen. We get car insurance, homeowners insurance and health insurance to be on the safe side. But what if you are a renter? Who protects your belongings and makes sure you are not held responsible for personal or property damage at your apartment?  If you rent an apartment, condo, or home, rental insurance is your safeguard against property loss and personal liability.
Imagine the following scenarios:

• What if all your clothes, TV, computer, furniture, and other belongings were destroyed by fire? Could you replace them, immediately, out of pocket?
• Could you be held liable if your friends or family were injured on the apartment grounds or in your apartment?
• What if your apartment unit was broken into and your personal property was stolen, how would your belongings be replaced?

Fire. Injury. Robbery. These are just a few reasons why people get apartment renters insurance. It is up to you to protect your belongings and prepare for the unexpected with rental insurance. Whether you are looking for apartment rental insurance or insurance to cover your storage rental you need to consider these:

• protect you against the financial risk associated with property damage
• insure full replacement value for your personal property and that of your neighbors
• provide you with quick payment for approved claims
• provide you with temporary living expenses over and above your normal living expenses if your apartment is covered in the loss
• give you peace of mind!

Use this calculator to total up the value of everything in your apartment and think about how you would replace it in the event of a disaster or problems:
http://www.residentshield.com/contentscalculatorequote

PICK YOUR DREAM CAR and then use this calculator to find out how much you might pay annually for insurance: (If you have a car in this budget, enter the amount of your monthly payment estimate)

http://money.msn.com/auto-insurance/auto-insurance-quotes.aspx

Use this calculator to estimate your monthly payment.  You must estimate using a 48-month loan at 7% interest.  Good Luck!

http://www.bankrate.com/calculators/auto/simple-loan-payment-calculator.aspx

NOW use the following calculator to think about how much Savings you will need to set aside while you are earning a living (your starting amount is the amount left over from your shopping trip on moving day:

http://www.bankrate.com/calculators/savings/simple-savings-calculator.aspx

Add your monthly savings into your budget.

You might also need some life insurance, but that is normally handled with your employee benefits people.  Your new jobs could include Life, Health, and other benefits we will discuss today.

Finally, you can now add 10% of your earnings from our Investopedia Stock Market Game.  Call me over to make the withdrawl if you want.  I will have today's print out with totals and will approve all withdrawls.

Enter all of your items on your budget and save it for tomorrow!!

-Mr. S