Is Renters Insurance Really Necessary?

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   Mark Bartlett CLCS

   Branch Owner, TWFG Insurance Services, Fremont California and the Greater Bay Area Representing Dozens of Insurance Carriers

   If you can afford a financial loss of your personal items and can easily repurchase what may have been lost due to a potential event such as fire, water, wind, theft and so on as there are many perils that are covered then renters insurance is not necessary. If you can  absorb the costs of a potential law suit for bodily injury and/or property damage that can run well into the thousands or hundreds of thousands even if the suit is only alleged then renters insurance is not necessary.  If you can pay your loss of use (substitute housing) if you are potentially displaced from your home for a loss as mentioned above then renters insurance is not necessary. If you said no to any of these you may wish to consider renters insurance. Renters insurance has to be the most affordable insurance on the market that covers so much for so little.

   Answered on June 21, 2013

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