ASK BBB
By Rodney Davis BBB CEO, BBB serving Southeast Florida and the Caribbean
E
very day new questions are submitted to us at BBB by consumers. Some questions are trying to get information to determine if a business or offer are legitimate, and, if the business and/or product and service will be top quality. Other questions come to us after a purchase and the consumer is trying to manage a not so great outcome. Since we learn from experience it can be helpful for consumers to learn from situations other consumers have already encountered. Let’s review a few of the questions coming to BBB recently and what every consumer should learn to avoid or resolve potential problems.
Question from Maggie G:
insurance if I am renting?
The rate will vary based on the coverage, deductible, and the insurer.
1.
Rates:
2.
Deductible: The higher the deductible (i.e. the amount you pay out before insurance coverage begins to pay for the losses) the less costly your coverage will be since you self-insure that initial amount.
3.
Actual Cash Value vs. Replacement Value: If your coverage is based on actual
Do I need building
Hello Maggie. The owner of your building should have insurance on the property. You should ask the landlord for a copy to know
Answer:
what coverage exists on the property. Some renters will add rental insurance to cover theft of property, but that is a different kind of insurance and for a different purpose. If you decide to obtain rental insurance you should obtain several quotes so you are able to compare some of the key variables:
cash value the amount you will receive to replace a sofa or TV will be reduced
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