Armchair Millionaire Community Bulletin: Apartment Dweller? Learn How to Protect Your Stuff
A 2003 poll by the Independent Insurance Agents & Brokers of America found that 64 percent of renters had no renter's insurance. This is despite the fact that, according to the National Association of Insurance Commissioners, the average renter's insurance premium in 2002 was just $186. Renters tend to opt out buying rent for two reasons. First, many people mistakenly think that their landlords' insurance would cover any damage to their property. In fact, the landlords' insurance would cover their own property, but not their tenants' property.
Second, many renters assume that they simply don't have enough valuable to make insurance worthwhile. But take a good look around your apartment. That home computer, TV, stereo, CD collection, furniture and kitchen items can all add up to a substantial sum, even if you live in a one-room apartment. Just consider this story from the Armchair Millionaire community:"Years ago, a roommate and I were renting an apartment together. We were both gone one weekend and our place got burglarized.
They took our TVs, the stereo, both our computers and lots of little stuff. My roommate had renter's insurance and got reimbursed for everything he lost. I wish I could say the same thing about myself?" --TGSIf you're a renter, don't sell yourself short. Renter's insurance is just as important to you as homeowner's insurance is to those who own. Having the proper insurance coverage on your digs is one of the basic building blocks of financial security.
My guide provides the basics you need to know.The Armchair Millionaire's Guide to Renter's Insurance - Know what it covers. Most renter's policies cover three major types things: ????Personal property losses that occur from a long list of perils, including fire, theft, windstorms, hail, the weight of ice or snow, damage from electrical surges and damage from burst pipes, to name but some.????Living expenses, should your place become uninhabitable due to any reason covered by your policy. ????Liability protection, to cover expenses should anyone injure themselves at your apartment, including expenses for defending you against lawsuits brought by others.Get enough coverage. To make sure you buy enough coverage, do a thorough inventory of your belongings. List each item and estimate what it would cost to replace.
Don't overlook the small stuff--it all adds up. Get the right type coverage. Policies insure your belongings either for actual cash value or replacement cost. Actual cash value is the current value of the item lost, while replacement value is what it would cost to replace the item with a new one. So unless you want to replace your stuff by shopping at garage sales, get a replacement cost policy.
And if you have any expensive items such as jewelry or furs, check to make sure they're all covered. If not, you may need to obtain a rider to cover them. Keep the cost affordable. Many insurance companies will give you a break on your premium if your apartment has protective devices such as fire extinguishers, smoke alarms and security alarms. A higher deductible will also mean a lower premium.
You can often also get a discount if you buy both your renter's and auto insurance from the same company.Go Dutch. If you have a roommate, it's generally better for each of you to have your own policy. Joint policies are available, but can make things complicated when one person moves out or if one of you makes a substantial claim. The Bottom Line: Renters insurance is often overlooked by apartment dwellers, but is actually one of the most important types of insurance you can get. Given that it's also one of the least expensive types of insurance available, you don't have any reason to not get proper coverage.
The Armchair Millionaire Weekly Survey: What kind of retirement plan do you use?
Log on to www.armchairmillionaire.com and let us know.Lewis Schiff founded the Armchair Millionaire Web site in 1997. His first book, The Armchair Millionaire, was published in 2001. Schiff's newest report, "How to Know When You Are Rich," is now available at www.armchairmillionaire.com.Contact Information:Lewis SchiffArmchair Millionaire877-833-2823http://www.armchairmillionaire.com.
What Bowling and Success Have In Common
was flying home from a seminar in Atlanta yesterdayafternoon on Delta and they have TVs on each seat.It was 1pm and I was a bit tired, so I was channel surfing andwouldn't have minded if I just fell asleep for the trip.But as I was surfing, I came across ESPN, the sports network,and they were having the finals of a bowling tournament.I'm not a huge bowling fan, I do try to 'hit the lanes' onceor twice a year, but I caught the end of an interview with oneof the bowlers and it got my attention.Here's why.He was talking about how important staying focused andhaving a positive attitude is, but then he said something thatI know to be so helpful.I call them, S.R.P.'s.S.R.P. stands for ?Success Reference Points.'Here's what he said:He said that he thinks about a time in the past when he wasbowling and 'on fire', and he was doing great.He puts himself back in that mindset.What was he saying to himself?How was he standing, how was his posture?He even watched old bowling videos of him doing great.We...
What Bowling and Success Have In Common
Tvs > What Bowling and Success Have In Common
OnePAL Adds Searchable Coupons, Holiday Gift Idea Center
Minneapolis (ContentDesk) December 7, 2005 -- Online comparison shopping company OnePal LLC announces the addition of coupons from over 1,000 leading merchants for products such as electronics, computers, software, books, games and music to its website. Customers can search OnePAL.coms coupons by keyword, merchant or product and simply click on the resulting link to be redirected to the website of the participating merchant, where they can enter the coupon code to realize instant savings.Jamison Geisler, Director of Marketing for OnePal LLC, says the coupons give our users yet another tool to realize savings using the onePAL.com website.
OnePal gives its users a powerful, user-friendly format that harnesses the power of the Web to help them make the best shopping decisions. OnePAL.coms homepage shows dynamically updated lists of featured products based on popularity and products most recently searched. The site has pictures of featured products.
Both features are...
OnePAL Adds Searchable Coupons, Holiday Gift Idea Center
Tvs > OnePAL Adds Searchable Coupons, Holiday Gift Idea Center
Prestigio Releases New Widescreen Notebook-Based Multimedia Center with InstantON Support
Prestigio, one of the most dynamic international manufacturers of LCD displays and TVs, mobile computers, and plasma TVs, has unveiled a new high-performance notebook-based multimedia center featuring brilliantly sharp panoramic 15.4" WSXGA+ LCD screen, 256MB of dedicated video RAM for incredible gains in graphic performance, InstantON function, and sloped keyboard.The brand-new Nobile 159W is the second multimedia center in Prestigio's mobile computer line-up. Just like its predecessor Visconte 120 it is capable of instantly playing music CDs, DVD videos, MP3s and browsing digital photos without loading the operation system thanks to its InterVideo? InstantON? feature. And the PC Card remote control included into the basic configuration allows to control the machine from a distance in InstantON mode and even shut down Windows XP with a press of a button in Windows mode. The new model also supports internal (mini PCI) TV-tuner option. Another pleasant feature meant to provide comfortable...
Prestigio Releases New Widescreen Notebook-Based Multimedia Center with InstantON Support
Tvs > Prestigio Releases New Widescreen Notebook-Based Multimedia Center with InstantON Support
Curbing the Public Nuisance (Part 2)
Curbing the Public Nuisance (Part 2)By Yes, that pillar of society that has been with us since that slithery dude threw humanity for a curve in the Garden of Eden ? that cornerstone of society has been automated.I am speaking, of course, of the public nuisance ( I wrote about him in Part 1 at http://www.thehappyguy.com/nuisance1.html . )No longer do pests have to come around in restaurants and train stations and villages singing loudly and playing their harpsichords. We now have machines to do that for us ? machines like televisions and radios and elevator muzak and backfiring Mustangs.In the olden days, you could just throw a brick at a public nuisance, and that would usually shut him up for two minutes ? five if the brick hit its mark.But it's harder to throw a brick at a TV, because bar owners send bloodthirsty lawyers after you, something the old-fashioned public nuisances knew nothing about. And how can you throw a brick at the shadowy creature producing elevator muzak?So it was...
Curbing the Public Nuisance (Part 2)
Tvs > Curbing the Public Nuisance (Part 2)
Syntax Groups Expands Consumer Electronics Retail Channel with Addition of American TV for Value Priced Olevia LCD TV's
Syntax Groups Corporation(tm), a complete vertically-integrated R&D, manufacturing and channel sales company of digital convergence consumer electronics products, today announced its alliance with American TV to offer its retail consumers the high value HDTV-ready Olevia(tm) brand of 27-inch and 30-inch LCD TVs, and to strategically broaden the overall visibility of Olevia brand.
American TV, a leading "brick and mortar" retail store serving consumers in 11 Midwestern locations, selected the Syntax Olevia 27-inch and 30-inch models because of Olevia's unique, richly-appointed PC-like features at cost-effective prices. The Syntax Olevia 27-inch and 30-inch LCD TVs provide best of breed features including dual TV tuners, VGA and TV split screens, DVI inputs with HDCP, ultra-thin flat panel LCD screens, high contrast ratios, fast refresh rates and response times, and 14-16 rows of transistors for bright displays. With true split screen capability, consumers can connect the Olevia...
Tvs > Syntax Groups Expands Consumer Electronics Retail Channel with Addition of American TV for Value Priced Olevia LCD TV's