Choosing auto insurance coverage is a complicated matter. Somehow it became common knowledge for consumers to ask their insurance agent for "Full Coverage," and that would take care of all their insurance needs. I am not sure where the term "full coverage" originated from, but I am not a fan of it. In the insurance industry, there is no such thing as "full coverage." The insurance company will always limit the amount of coverage they offer. So when someone asks me for "full coverage," all they are telling me is that they do not know what they need or want.
Why do complexes require it? How much does it cost? What does it cover?
Recently more and more apartment, condo, and townhome complexes are requiring that their tenants carry renters insurance. This increase has created a lot of questions as to the cost and coverage of renters insurance. This week's article will discuss three fundamental questions, What does renters insurance cover? How much does it cost? And why do apartment complexes require tenants to carry it?