How Necessary Is Renters Insurance?

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   David G. Pipes, CLU®, RICP®

   Business Development Officer, T.D. McNeil Insurance Services, Fresno, California

   Insurance may be required by your landlord.  Otherwise insurance is never “necessary.”  If you are able to sustain a large lawsuit with ease, then you don’t need a renter’s policy.  If your rental unit burns to the ground and you lose everything that you have in it, and it wouldn’t even merit an entry in your check book, then you don’t need a renter’s policy.  If you don’t need a friend to stand with you with money in their hand when things really go wrong, then you don’t need a renter’s policy.  

   Answered on March 13, 2014

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