Enrichment · Life Skills

Compare what the policy
leaves out.

Insurance quotes are easy to compare on price and hard to compare on what they do not pay for. For each renters or homeowners policy, enter the premium, deductible and endorsements, then mark twelve commonly excluded or limited risks from the policy wording. The comparison shows the true yearly cost and how many gaps each policy has, and lists the questions to send the insurer.

Compare policiesWhat you get

Policies compared

The worked example is made up: three renters insurance quotes for the same apartment, called A, B and C. Saved on this device only.

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What you get

Enrichment · Life SkillsFree

What you finish with
A record per policy or quote: insurer, kind, premium, deductible, replacement cost or actual cash value, endorsements with yearly cost and twelve risks marked covered, excluded or not sure. Works out the true yearly cost and counts gaps; compares policies side by side; flags flood and earthquake, actual cash value, sewer backup, open questions and a deductible above half your savings.
Who it is for
Renters, first-time homeowners, young adults and families comparing home or renters insurance.
Format
Browser comparison with a saved record per policy. Prints one policy, all of them in a table or a blank sheet; downloads a spreadsheet (.csv); exports and imports a file.
Access
Free. No account, no sign-in and nothing to install. Everything you type stays in this browser; nothing is sent to Caveat.
Where it lives
The Life Skills space in Caveat Enrichment.
Support
Questions about access, an order or a correction: team@caveatacademic.com.

How to use it

  1. Get the full policy or sample policy, not just the quote page.
  2. Enter premium, deductible and how belongings are paid.
  3. Add each endorsement with its cost.
  4. Mark the twelve risks from the Exclusions section.
  5. Send the not-sure items to the insurer in writing.

Compare policies

Exclusions and limits

Three ways a loss goes unpaidExcludedNamed in the ExclusionssectionFlood, earthquake, wearand tearLimitedCovered up to a smallcapJewelry, cash,collectibles, businessgearBelow the deductibleA $700 loss on a $1,000deductiblePays nothingThree ways a loss goes unpaidExcludedNamed in the Exclusions sectionFlood, earthquake, wear and tearLimitedCovered up to a small capJewelry, cash, collectibles, business gearBelow the deductibleA $700 loss on a $1,000 deductiblePays nothing
The cheapest premium is often cheapest because one of these three is bigger. Compare all three, not just the price.

Replacement cost or actual cash value

Replacement cost pays what it costs to buy a similar new item; actual cash value subtracts depreciation. On older electronics, furniture and clothes the gap can be most of the claim. Many policies pay actual cash value first and the rest after you replace the item.

Flood is its own policy

Standard home and renters policies exclude flooding from rising water. Flood insurance is sold through the National Flood Insurance Program and private insurers, and an NFIP policy generally has a 30-day waiting period before it takes effect. Renters can buy contents-only flood cover.

Sources

  1. FEMA, National Flood Insurance Program (floodsmart.gov): what flood insurance covers; the 30-day waiting period.
  2. Insurance Information Institute (iii.org): what homeowners and renters insurance covers and excludes; replacement cost and actual cash value.
  3. National Association of Insurance Commissioners (content.naic.org): consumer guides to homeowners and renters insurance.
  4. ISO homeowners policy forms HO 00 03 and HO 00 04: Section I exclusions, in general terms.

The worked example is made up; quotes A, B and C are not real insurers. Policies differ and the policy wording governs; this is not insurance advice and makes no state-specific claims. Nothing you type is sent to Caveat. Support: team@caveatacademic.com.