It's absolutely worth it. Especially if you get it through the same company you get your car insurance through because you then qualify for a "multi-policy discount".
Dave
Dave
We just talked to someone this weekend who lost her first apartment and all possessions in a fire because some schmuck fell asleep with a cigarette in her mouth. She didn't have renters insurance.
SarcasticDwarf
Diamond Member
- Jun 8, 2001
- 9,574
- 2
- 76
But be sure to check your policy. IIRC with State Farm the policy can be written as EITHER replacement cost or value.
Brainonska511
Lifer
- Dec 10, 2005
- 28,736
- 13,901
- 136
How would you handle Renter's Insurance if you live with a few roommates? Would I be able to get it to just cover my stuff, or would we all have to go in as an apartment unit?
MikeyLSU
Platinum Member
- Dec 21, 2005
- 2,747
- 0
- 71
yes, if your stuff gets stolen/ruined.
no, if nothing happens
I thought about it when I was in college, but never got it, none of my friends got it either and nothing happened. That doesn't mean it is a bad buy, but it is never a bad idea to insure your stuff.
no, if nothing happens
I thought about it when I was in college, but never got it, none of my friends got it either and nothing happened. That doesn't mean it is a bad buy, but it is never a bad idea to insure your stuff.
You swear and sign under penalty of fraud (a felony) that the information you provide is correct.
Insurance fraud is a big deal.
Capt Caveman
Lifer
- Jan 30, 2005
- 34,543
- 651
- 126
Keep receipts, take pics, etc...
And keep them safe - fire safe, bank security box, online or parent's house, etc...
You'd just get it to cover your stuff.
They can get their own.
Again, if you just take the tiem to sit down with an insurance agent they will be able to explain all of this to you. If you have any questions, just ask them. That's all it took for me, 20 minute sit down and everything sorted out.
Brainonska511
Lifer
- Dec 10, 2005
- 28,736
- 13,901
- 136
TuxDave
Lifer
- Oct 8, 2002
- 10,571
- 3
- 71
Geez how ADD are you? I went through State Farm too and it took 1-2 minutes of Q&A on the phone to finish. Here's an easy mode solution, call the agent closest to your home, answer the dumb questions (does it have a fire alarm? are the doors deadbolted?) and any regional related questions the local agent will probably know and/or can find out himself.
Each of you need a policy to protect your OWN property. The insurance is taken out on YOUR property, along with personal liability protection. This means if YOU are taken to court over an injury (or have to pay for one) it will payout to cover costs and such.
Yes and no.
Besides signing that under penalty of insurance fraud you are being honest, they usually do go out and look at the remains. You should be there when they inspect the property and damage, when they do the adjuster will talk to you about what was lost in each room. If you say there was a 60 inch plasma in that room, and they don't see evidence of it good luck in getting money for it.
The best thing to do is make a list with serial numbers of everything. An item description, cost, date of purchase, serial number, and pictures will give a ton of help in getting money for an item. What you should do is make an excel spreadsheet with this info(brand/make/model should be included along with specs with stuff like computers), and then take pictures (at least a picture of each room with all the items in it, this way you can show that it was there). Once you do this either A) save it to cd/hard drive and keep it at a parents/childs/relatives house/safe deposit box, and/or B) save it all online at a secure place (this isn't my ideal option because there is a risk for data theft and losing passwords and such). Either way save copies remotely off site. That way unless you really piss "God" off and he fucks with both the home and remote location at the same time, you will have a copy.
Yes. Take it from my experience of just being burglarized and NOT having it. Signed up right after, it's cheap and well worth it.
sygyzy
Lifer
- Oct 21, 2000
- 14,001
- 4
- 76
How careful do they check? I mean will they really go out and say "Well, you know Costco has this plasma for $50 cheaper." What about things that are not replaceable and worth more than they actually "cost." For example, autographed prints or collectible shoes (serious).
Brainonska511
Lifer
- Dec 10, 2005
- 28,736
- 13,901
- 136
Pretty much, but never doubt the ability of an insurance company or the lengths they will go to in an effort to expose fraud. If you're gonna claim all sorts of things that seems well beyond the lifestyle of the typical resident of your area/apartment, you can expect them to dig a little deeper, as paying a private investigator is a lot cheaper than paying out an insurance claim for a total loss.
I didn't have it for a while but eventually moved into a place that required it, and I wish I got it earlier because it is so cheap: ~$150 a year for $35,000 in coverage. That's a serious bargain to cover everything I own. I use State Farm and the sign-up process was fairly easy. We got a discount because my family uses them for auto insurance.
My musical equipment, my fiancee's jewelry, our hi-fi systems, computers, etc, all covered for theft, fire, flood. I think there is even some coverage for thefts of property from our cars or from hotel rooms (gotta check on that). It buys a lot of piece of mind.
My musical equipment, my fiancee's jewelry, our hi-fi systems, computers, etc, all covered for theft, fire, flood. I think there is even some coverage for thefts of property from our cars or from hotel rooms (gotta check on that). It buys a lot of piece of mind.
Yes, this is the most logical idea. In terms of more "material" possessions, they may do it as fast as calling a couple locals stores and giving you the average or median non-sale price on the most comparable item. (Either the exact item, or if it's not quite in stock, the one closest to it of the same brand.) It varies somewhat, but they won't usually try and penny pinch for you.
Depends on the state.
In WI living next to the ghetto was less than $150 for renters insurance.
Austin, TX...rich neighborhood...$450 for renter insurance. Screw that.
I'll buy new with the money saved if I ever lost everything..which isn't much to begin with after my computer.
In WI living next to the ghetto was less than $150 for renters insurance.
Austin, TX...rich neighborhood...$450 for renter insurance. Screw that.
I'll buy new with the money saved if I ever lost everything..which isn't much to begin with after my computer.
Brainonska511
Lifer
- Dec 10, 2005
- 28,736
- 13,901
- 136
It looks like it would cost me $150 - $250 a year based on the quotes I've filled out online. I'm going to hit up a State Farm agent this Saturday - I might be able to get a discount as I'm listed on my parents' State Farm auto policy.
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