1. 16470 POINTS
    David OsgoodPRO
    Agent, Rural Mutual Insurance Co., Union Grove, WI
    As with any insurance it is considered by many as worthless if they never need it, but that one time that you do need it; it is worth every penny you ever spent for it. How much would it cost you to replace everything that you own if you experienced a fire other covered peril? Would you have the money necessary to secure another place to live? Would you be able to pay the medical bills for a vistor to your premise that is injured while on your premise? This is just a small portion of the coverages provided by renters insurance.
    Answered on October 17, 2013
  2. 14231 POINTS
    Tom SheehanPRO
    Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
    "Worth" having something really is based upon one's own point of view and circumstances.  As an insurance professional who is responsible for providing advice and service to my clients, frankly I believe that dollar for dollar, Renters Insurance can be invaluable and is certainly "worth" the cost. Look, you work hard to obtain the things you buy , so obviously, you have already made the decision that these things are "worth" having. If you came home one day and your apartment or the house you were renting was completey destroyed and all those personal items that you valued were gone, I suspect you would not be questionning the worth of your renters' policy.
    Answered on October 18, 2013
  3. 37376 POINTS
    David G. Pipes, CLU®, RICP®PRO
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Insurance is away to transfer a risk from yourself to a pool of people with similar exposures. If the loss of your personal property would create a significant risk to your net worth, you might consider transfering that risk to a pool of other people. For some people the value of their property that is contained in a rented unit is insignificant and they would not suffer too much. For others, loss of their personal property would be a financial disaster. If value is measured in dollars and cents, you would have to endure a loss and claim to make a renter’s policy a “value.” You might enjoy a great deal of peace of mind if you know that a fire would not destroy your accumulated assets.
    Answered on August 15, 2015
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