Changing Priorities: Time for Renters Insurance

Posted by abie on 9:58 AM in
Apartment dwellers around the well must fear the day when their personal belongings get damaged. Almost every homeowner has house insurance, but renters usually try to get by without renters insurance. That’s largely because they see the insurance as an unnecessary expense. After all, if they had a lot of money to throw around, they would probably buy their own homes.

Sometimes it really pays to spend a little extra on quality coverage, though. Sure, it costs a bit, but it isn’t really all that expensive. Plus, good coverage means that you don’t have to fret about coming home to a flooded home. Not that flooding is ever good, whether you do or do not have insurance, but it’s certainly an easier event to handle when you know you will get some compensation.

There is nothing you can do to save your photo albums and heirlooms, but there are plenty of expensive items that you wouldn’t want to use. Gastronomes will suffer stomach pangs to think about losing their KitchenAid mixers or their food processors. These items, as dear to your heart as they are, are easily replaceable when you have renters insurance.

Without insurance, though, you can write off some of your most cherished belongings. When it comes down to it, you are going to buy a new couch over a new food processor, regardless of how much you love your kitchen toys.

As people start to mature, it seems that they take this issue more seriously. It seems unlikely that many 20-year-olds spend their money on insurance. Once a person hits their 30s, though, something changes at a chemical level. Suddenly, they start thinking “what if.” The risks of that game are pretty high. A person stops wondering “What if I can’t get a date for Friday?” and start fretting about “How am I going to replace this busted refrigerator?”


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