That's a great question! You know, in most situations, it really does. If you are living at home and paying rent, maybe not, but in almost every other case I'd recommend it. It is relatively inexpensive, and can be a total lifesaver if someone breaks into your apartment, or a neighbor catches the place on fire. Please find a good agent, and get a policy. Thanks for asking!
Principal Agent, First Insurance Agency Inc, United States
Renter insurance makes a lot of sense. If you apartment was on fire and all your personal belongings were gone, where will you stay temporally? Renters insurance will provide you with temporal hotel accommodation.
If you were having a party at your apartment and one your guest slips and falls on your wet kitchen floor and breaks their hip and ambulance came took them to hospital and the medical bill is $28,000 . Now who do think is responsible for that? YOU my friend!
Let say you loaded you car with your personal stuff worth say $5000 going on vacation to Florida . You car overheats at point and caught on fire and both your car and its content are gone. Assuming you have physical damage insurance on your car, your car insurance company with replace the fair market value of vehicle minus any applicable deductible. They will not replace your vehicle content of $5000. If you had renters insurance for your apartment , they will cover your personal stuff in vehicle.
Yes it makes sense to buy renters insurance.
Manager, Marindependent Insurance Services LLC, California
Renters Insurance can make good solid sense for three reasons:
1. Personal Property Protection. Make sure you request Replacement Cost protection.
2. Loss of Use
3. Liability protection - this would be the number one reason that many people without home or renters insurance should really consider it.
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If you were having a party at your apartment and one your guest slips and falls on your wet kitchen floor and breaks their hip and ambulance came took them to hospital and the medical bill is $28,000 . Now who do think is responsible for that? YOU my friend!
Let say you loaded you car with your personal stuff worth say $5000 going on vacation to Florida . You car overheats at point and caught on fire and both your car and its content are gone. Assuming you have physical damage insurance on your car, your car insurance company with replace the fair market value of vehicle minus any applicable deductible. They will not replace your vehicle content of $5000. If you had renters insurance for your apartment , they will cover your personal stuff in vehicle.
Yes it makes sense to buy renters insurance.
1. Personal Property Protection. Make sure you request Replacement Cost protection.
2. Loss of Use
3. Liability protection - this would be the number one reason that many people without home or renters insurance should really consider it.
Thanks for the Question.