Great question! Renters insurance is worth it the minute you have to file a claim. In the event that your apartment is damaged by fire, or some natural disaster, the claim helps pay for the cost of the things that you had. It will also cover the things that are stolen from your apartment. When you are standing there wondering where you will come up with the money to replace everything that you once had, and where you are going to stay, then you will appreciate the value of the insurance. If you have more questions, please feel free to contact me, I'm happy to help. Thanks for asking!
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
The value of any insurance policy is demonstrated when it pays your claim. The cost of an insurance policy is generally a fair distribution of the risk. Companies must demonstrate to the state insurance commissioner that they are accepting premiums, holding reserves and paying claims in a way that provides good value and provides for the financial stability of the company.
When paired with an auto policy it extends coverage to possessions not normally in the car. I had clients in the past that did not have a renter's policy and their car was broken into. Their laptop for work and other items were stolen. A renters' policy would have paid for those items. The auto policy did not cover the claim.
Manager, Marindependent Insurance Services LLC, California
Given the relative low cost of Renters Insurance - it is usually worth it.
Typically Renters Insurance will cover
- Loss of Use
- Personal Property Coverage
- Personal Liability
And the personal liability is really needed for everyone now a day. If you do not have a renters insurance policy and your rent, how are you covered from a liability claim?
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Typically Renters Insurance will cover
- Loss of Use
- Personal Property Coverage
- Personal Liability
And the personal liability is really needed for everyone now a day. If you do not have a renters insurance policy and your rent, how are you covered from a liability claim?