Insurance, The Home 

A Reason To Get Renters Insurance

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I’m not longer renting but when I did, I felt the $10 or so a month to cover my belongings wasn’t really worth it (I didn’t have much in the way of valuables). Luckily, in the two years I rented, there were no fires, floods, thefts or anything that could’ve damaged my property or my apartment. But for those of you who do rent and don’t have renter’s insurance, a good reason to get renter’s insurance is that it covers items stolen from your car in the event of a break-in. In fact, your comprehensive auto insurance will only cover items physically attached to your car (such as the stereo)… so consider me officially flipped from the “renter’s insurance is a waste” camp to the “renter’s insurance is probably a good idea, especially at a mere $10 a month” camp… but now I have a home so the more costly homeowner’s insurance makes that defection moot. (speaking of which, I need to take an inventory)

{ 4 comments, please add your thoughts now! }

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4 Responses to “A Reason To Get Renters Insurance”

  1. JLP says:


    I think there’s something wrong with your email. I have tried sending you email and it keeps coming back to me. Just thought I’d let you know.


  2. Jose says:

    Take a video or plenty of photos of your house. That helps during insurance negotiations.

    Renters insurance sometimes covers things inside the car or things you loan to others.

    However, expensive jewelry, electronics, collections and cameras should be insured sepparately (as a rider to the policy).

    Also be wary about flods. not evey policy covers it. It may be extra.

    Money and Investing

  3. risk says:

    if it works similar as auto insurance, self-insure inexpensive items is better than buying insurance. small claims results in later premium hijacking, especially in areas where premiums are already high, like auto insurance in Maryland. I’d better off eatting any auto claims less than $1000 myself.

    Buying multiple insurance policy from the same carrier might be cheaper though. I know someone who basically get a free ride on renter’s insurance from Geico because of the multiple policy discount (also has auto insurance with Geico)

  4. I currently rent and I do not have renters insurance. Although, I am in a nice area and my building has a secure enterance so I am not really worried about break-ins. Maybe fires, maybe. But, like “risk” said, I am better-off self-insuring myself against those sort of losses.

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