Is Renters Insurance A Waste?
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaInsurance is a pooled risk. Some people will take more from the pool than others. That is the nature of risk. It really has little to do with the practices of insurance companies. The risk that is shared is one that individuals cannot bear themselves. Most people cannot bear the cost of a lawsuit. Large corporations, routinely bear that cost and do not share their risk with others. That is called, “self-insuring.”Answered on March 17, 2014flag this answer
14231 POINTSview profileTom SheehanAgency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482Next time you read a story in a newspaper, or see one on the television news reports about a family who lost everything because thy had no insurance and had a fire in their apartment, think about what they lost. Think about how they are going to have to use their regular paycheck to find a new place fo live and replace all of the clothes, furnature and other personal belongings that they worked their lifetime to obtain. Then as yourself if Renters Insurance is a waste.Answered on March 17, 2014flag this answer
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