04-25-2012, 12:49 AM
Matt,
If I remember correctly, the renter's policy I had when I was in a rental only cost me $150 or so per year. Dirt cheap. Because of that, I disagree with you on this. In the event of a serious issue, the amount you pay out of pocket to replace items damaged/stolen/etc will likely be far greater than the cost of renters insurance that will cover the cost of replacing said goods. Definitely worthwhile if you have expensive items like electronics, antiques, valuable area rugs, etc. I look at it this way... Why should you pay more out of pocket than it would cost you in insurance in the event of an issue.
A friend of mine found out the hard way that renter's insurance was very worthwhile. Someone broke into his apartment and stole a significant amount of his belongings including electronics. Fortunately, his landlord put a claim under his homeowners and everything was replaced. If that hadn't happened, he'd've had to pay a thousands to replace everything that was stolen. It was his experience that taught me that if you rent rather than own, you absolutely should have a renter's policy.
Robert
If I remember correctly, the renter's policy I had when I was in a rental only cost me $150 or so per year. Dirt cheap. Because of that, I disagree with you on this. In the event of a serious issue, the amount you pay out of pocket to replace items damaged/stolen/etc will likely be far greater than the cost of renters insurance that will cover the cost of replacing said goods. Definitely worthwhile if you have expensive items like electronics, antiques, valuable area rugs, etc. I look at it this way... Why should you pay more out of pocket than it would cost you in insurance in the event of an issue.
A friend of mine found out the hard way that renter's insurance was very worthwhile. Someone broke into his apartment and stole a significant amount of his belongings including electronics. Fortunately, his landlord put a claim under his homeowners and everything was replaced. If that hadn't happened, he'd've had to pay a thousands to replace everything that was stolen. It was his experience that taught me that if you rent rather than own, you absolutely should have a renter's policy.
Robert