Is Self-Insuring The Cheaper Alternative To Renters Insurance?

Is Self-Insuring The Cheaper Alternative To Renters Insurance

Is Self-Insuring The Cheaper Alternative To Renters Insurance

One of the objections to renters insurance that we often hear is along the lines of,

Well, I don’t have that much personal property, if there’s a loss I’ll just pay to buy new stuff out of my savings.  I’m saving that fifteen dollars a month that renters insurance would cost me, aren’t I awesomely frugal?  I can go buy a pizza with that money!

In other words, why buy renters insurance when you could just save that money and put it in a savings account to cover the losses you might suffer?  Interesting, but wrong.  Let’s look at why.

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Frequent Apartment Fires: Why You Need Florida Renters Insurance

Aftermath Of A Tampa Fire - Why You Need Florida Renters Insurance

Aftermath Of A Tampa Fire – Why You Need Florida Renters Insurance

At least once a day, we field a call from someone who says,

I’m moving into this great apartment on the coast, but my landlord is demanding that I have a Florida renters insurance policy before I can move in.  I can’t find one, because I’ll be living on the coast.  Do I really need renters insurance in Florida?

The answer is always yes.  You need a Florida coastal renters insurance policy.  But where are you going to get renters insurance in Tampa, St. Petersburg, Hialeah, or Miami?  These are all areas with coastal exposure, and many carriers have left the state in recent years.  It’s actually not nearly as difficult as you think!

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One Injured, Twelve Displaced In Fire, Shows Need For Richmond Renters Insurance

Richmond apartment fires are not uncommon.  A recent fire in Richmond displaced twelve people and destroyed the lives of six families.  A Richmond apartment fire can be devastating.  Effective Coverage works to protect tenants across the country, providing Richmond, CA renters insurance, Richmond, VA renters insurance, and coverage coast to coast in between.

Apartment Fire Demonstrates Need For Renters Insurance In Richmond

Apartment Fire Demonstrates Need For Renters Insurance In Richmond

Most of the time, the people affected by an apartment fire are not at fault.  It’s either “one of those things that just happen,” or it’s the result of someone else’s negligence.

In that situation, having coverage helps to start your life over after a significant loss in a Richmond apartment fire.  Think about how you’d respond once you were out of the fire. [Read more...]