Best Ways to Find Insurance for Items on Loan
In order to purchase the right amount of coverage on items that are on loan, you must know the requirements or terms for borrowing the item. In knowing the terms, you can determine an estimated amount of coverage and the amount of time you will need this coverage.
Formal Wear. If you are renting a tuxedo, prom dress, or evening gown, you can pay a small fee at the rental boutique to cover possible damages to this item. Any time you rent formal wear, you should prepare for all possibilities.
Wedding decorations. Most floral outlets and bridal accessories stores rent statuary, columns, flower arrangements, and such for weddings and other special events. At the time you sign the rental agreement, you will be required to pay a deposit. This deposit is used in place of insurance and is returned to you when you return the items on loan.
Jewelry. If you borrow jewelry from jewelry stores and boutiques often, you may consider purchasing a long term borrower's policy. This will allow for a discounted rate for insurance to cover all items you borrow during a specific time. This will prevent you from paying insurance fees later.
Rent-to-Own. When you enter a rent-to-own contract you have two options as per insurance. You can either have insurance fees added each time you make a payment. Or you can purchase renter's insurance through a private insurance provider.