Renters Insurance

[jorken]

I just got my 1st apt and was wondering how many of you other renters have insurance. Would you consider it a must or should I not even really bother with it?

 

[minendo]

I got renter's insurance through Allstate because it is fairly inexpensive. For $190 per year, I get $20000 coverage with $500 liability (if anyone gets hurt in my apartment).

 

[Smaulz]

Not a choice. It's cheap and easy, and you'd be sorely mistaken to dismiss it. It's like a firearm... better to have it and not need it, then need it and not have it.

 

[LSUfan]

I have it and used it. Get the replacement cost policy for a few more bucks. They really get you on depreciation if you dont.

 

[rgwalt]

It depends on how much stuff you have in your appt. If you start calculating the value of everything you own, it adds up pretty quickly. Electronics, computers, furniture, clothes, and school books. I have about $1000 worth of textbooks alone. You can get coverage at a very reasonable price. I have $10K of coverage with a $500 deductable, and I pay around $75 a year. Check with your car insurance company and see if they offer property insurance, as you can get discounts for multiple types of coverage.

Ryan

 

[rgwalt]

Originally posted by: LSUfan
I have it and used it. Get the replacement cost policy for a few more bucks. They really get you on depreciation if you dont.

Good point... I'll have to look into that when I renew.

Ryan

 

[DaveSimmons]

I've had it for a decade and thankfully have never needed it. The liability coverage is a nice bonus if some door to door salesguy sues you after tripping at your doorstep. I pay $148 from State Farm but I get a discount for the good claim history.

 

[HappyPuppy]

I lived in many apartments and never had renters insurance. I had very little and if someone wanted to sue me the would have gotten nothing.

 

[Yossarian]

Yeah it's definitely worth it. See if your auto insurance company offers it, you usually get a discount if you get both from the same place.

 

[Yossarian]

Originally posted by: HappyPuppy
I lived in many apartments and never had renters insurance. I had very little and if someone wanted to sue me the would have gotten nothing.

future wages can be taken from you!

 

[LaLaLand]

it's cheap like $100 or $125 a year i pay something like that. I hope to never use it BUT apartment living anything can happen, I saw a whole building of apartments get burned up because of 1 small child playing with candles. Half the residents were uninsured.................

 

[tm37]

Originally posted by: PipBoy

Originally posted by: HappyPuppy
I lived in many apartments and never had renters insurance. I had very little and if someone wanted to sue me the would have gotten nothing.

future wages can be taken from you!

He also has no Aspirations

 

[RossMAN]

Yes it's worth it. I pay $114/yr for $16,000 coverage AND get a 20% discount on my car insurance through American Family Insurance.

 

[Double Trouble]

If you can afford it, it's a pretty good idea. You never know when you'll come home to discover someone's broken into your place and taken all your stuff... or a fire has burned everything... You also never know if something might happen to someone when they're at your place. The litigation that might follow from that can be extremely expensive.....

Just my .02

 

[HomeBrewerDude]

ya its worth it. many policies will cover theft of bicycles and computer equipement, even if stolen/destroyed away from home.

 

[Cyco]

Another vote for getting it. You never know what can happen in this arbitrary world.

 

[Led Zeppelin]

I vote for getting it also. I live in a two-story condo complex in the upper unit, but there is an old lady living below me. I'm afraid one day I'm going to come home and see my place burnt to the ground because this old bitty refused to put herself in the nursing home where she belongs. You never know when a neighbor will do something stupid in their haste when they're running late, like leave the iron on, forget to turn the stove off, etc. Better to be safe than sorry.

 

[bozo1]

In many cases you can get it for free. Most insurance companies will give you 10-20 % off your car insurance if you have renters. Often, that more than pays for the cost.

 

[FoBoT]

you should have it for the liability if nothing else, ie if you stuff is worthless, at least you are covered for whatever the liability covers

 

[edro]

I have no idea what my deductible is and the cash limits either, but mine is $130 a year and it is tacked onto my Car insurance bill. (Nationwide)

 

[rgwalt]

Originally posted by: LedZeppelin
I vote for getting it also. I live in a two-story condo complex in the upper unit, but there is an old lady living below me. I'm afraid one day I'm going to come home and see my place burnt to the ground because this old bitty refused to put herself in the nursing home where she belongs. You never know when a neighbor will do something stupid in their haste when they're running late, like leave the iron on, forget to turn the stove off, etc. Better to be safe than sorry.

Great point... no matter how careful you are, you still have 3 or more people living around you that are complete idiots.

Ryan