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Post by Jim Stansel on Aug 24, 2009 11:15:48 GMT -5
My girl and I just moved into an apt that requires renters insurance and our insurer says we both need to have it. Is this true? or insurance propaganda?
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Post by Big BosskMan on Aug 24, 2009 12:26:10 GMT -5
A little bit of both. Insurance companies naturally want to sell you a product that makes them money via monthly premiums but it may be worth getting to have just in case.
If something happens to your apt building (fire, flood, tornado) and you lose all your stuff and don't have renter's insurance, you are SOL. If you are living in an older building (wiring, plumbing), you may want to think about it.
Personally I never had renter's insurance but did have a close call in college. Someone activated the sprinkler system over a weekend but it only affected a few floors of the dorm. Thankfully my room was above where it happened but those students who didn't have insurance got quite a bit of stuff ruined - and the college didn't have to pay a cent.
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Post by Red Impact on Aug 24, 2009 13:04:00 GMT -5
yeah, it's pretty much your only protection if something happened to your apartment. It's not expensive compared to other types of insurance.
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Post by Avalanche Alvarez on Aug 24, 2009 13:05:32 GMT -5
In this day and age, it IS important to have, that's for sure.
Where I work, we offer insurance but don't push it because it's not manditory but if someone's items get ruined, I have to be the bearer of bad news and tell them to go pound salt.
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