Do you rent? If you do, please read this poll and vote.

**Greebo** · 10-07-2010, 08:43 AM

Recently on another forum, I conducted a survey of renters and found that fully 25% of them did not have renters insurance.

I have asked this question here in the past, and I think it's time to bring the subject up again.

Renters Insurance is a product that reimburses you for your lost possessions should you lose them in a fire or other catastrophic event.

You should be aware, your landlord's insurance will not replace your possessions!

Renter's insurance is dirt cheap - the most expensive I've EVER heard of was in really bad neighborhoods for a few hundred a year - most places you can get it for a few dollars a month.

Do yourself a favor - DO THE MATH - go through your house and add up what it would cost you to replace the following:
- All of your clothing - shoes, pants, suits, dresses, skirts, underwear, shirts, hats, coats, belts, ALL of it
- All of your personal care items - toothbrushes, hairbrushes, hair dryers, curling irons, combs,
- All of your accessories - jewelry and the like
- All of your furniture - chairs, tables, beds, couches, dressers, etc
- All of your electronics - TV, stereo, alarm clocks, microwave, etc

NONE of those possessions will be replaced in a fire by your landlord's policy. Do the math and you'll quickly hit a scary big number.

Most renter's policies start at $25,000 *replacement* value - that's cost to replace, not value of good now. For dollars a month, can YOU afford NOT to be protected?

If you don't have it, please - call your insurance agent today and start the process. Shop around a bit to get the best value.

But please - get it today if you don't already. You don't want to be left after a fire with nothing *and* no way to replace it.

**frugal is fun** · 10-07-2010, 08:56 AM

Good advice Greebo. When I was renting I always had renters insurance and you're right, its dirt cheap and well worth the peace of mind.

**Momto5RN** · 10-07-2010, 11:48 AM

my son rented an apt and then for 2 years a house nearby his college ( with roommates splitting the costs )
he always had apt insurance on his stuff .

**Darlene** · 10-07-2010, 01:26 PM

Greebo's right about having insurance, yes I said you are right. Ds sells insurance and after hounding a couple of friends they finally agreed to get the insurance. Day before the appointment they were robbed & left high and dry. It really does cost usually less than $10 a month and can mean bunches. Don't delay. Sure you can do all the right things but if you live in a populated building you have no control over all those other tenants. Things can happen no matter where you live & you need to protect yourself.

**Greebo** · 10-07-2010, 01:35 PM

Originally Posted by Darlene

Greebo's right

Get used to it.

yes I said you are right.

You love saying that

**Darlene** · 10-07-2010, 01:39 PM

Originally Posted by Greebo

Get used to it.

You love saying that

I knew it would take you seconds to root out this post where someone said something nice about you.

**Greebo** · 10-07-2010, 01:42 PM

Originally Posted by Darlene

I knew it would take you seconds to root out this post where someone said something nice about you.

I have a web service which constantly monitors new posts on FV and alerts me on my cell phone.

When YOU post it, the ringer is extra special.

**jennordhavn** · 10-07-2010, 02:02 PM

We have renter's insurance. It is $154/yr. and I believe it's $25,000 replacement value (I don't have the policy in front of me). Because we got it through our auto insurer, we got a discount on auto insurance that basically makes our renter's insurance free.

**frugalfriend** · 10-07-2010, 02:10 PM

It IS so important! One of my good friends had an upstairs bathroom pipe leak while they were away and flooded their house. No renter's insurance, and they lost almost everything. It was very sad. Thankfully a lot of friends rallied around to help them, but they quickly realized for just a few dollars a month they would have had everything replaced.

**Kitten20** · 10-07-2010, 02:15 PM

Our apartment requires us to have renter's insurance. It's $12/mo for $25k iirc. We chose to go through their provider, so the amount is just added to the rent. I called the auto insurance company we use and it wasn't any cheaper.

I will admit that before moving here, we did not have any renter's insurance. Knowing now how affordable (and important) it is, I won't be doing w/o any more.

**frugalfranny** · 10-08-2010, 01:31 AM

And I have to add........

I truly don't think I could count the number of complexes here that have caught fire DUE TO CANDLES in the last two years. Either that or Bar-B Q's.......even more than with the portable heaters.

Your apt. might not burn........but if you are a neighbor you will have water damage.

**dcompton** · 10-08-2010, 08:37 PM

Ditto to all the above.

**Nana2two** · 10-09-2010, 12:55 AM

I made the mistake of not getting rental insurance after i divorced many years ago. I had a apartment fire lost alot of stuff because of smoke damage. So yeah i tell everyone that rents for $15 to $25 a month u can get some great coverage. Wish i did.

**mndtrp** · 10-11-2010, 09:14 PM

When I rented, I had insurance. Whenever someone I know gets an apartment, I strongly recommend it as well. Very rarely does anyone listen.

**KeithBC** · 10-12-2010, 12:18 AM

In addition to all the above, insurance is doubly important if you rent an apartment rather than a house. You may be doing everything you can to ensure that you are low risk - secure locks, no candles, etc. - but if the twit down the hall smokes in bed, you are at risk.