Let’s back up for a minute, and allow us to introduce you to Betteridge’s law of headlines, which states;
Any headline that ends in a question mark can be answered by the word no.
The reason why journalists use this style of headline is that they know a story is probably false, but still want to run it. With this in mind, let’s consider the title of this article and again ask–will building safety advances make renters insurance obsolete? Of course not!
No, renters insurance will not become obsolete because there are still many real risks of loss or damage no matter how safely a building is constructed. Despite how well designed they are, building safety advances will never fully protect against damage caused by arsonists, thieves, or natural disasters, to name a few. If people stopped stealing, or stopped suing each other for the most minor of things, or if natural disasters were a thing of the past, then and only then might renters insurance become obsolete.
With the availability of instant online renters insurance, the old way of buying coverage has certainly transformed. But in 2016 and even in 2116 insurance policies are not a thing that will ever become extinct. Who would have thought ten years ago that we’d write a story on renters insurance covering drone liability or insurance company drone surveillance or even how your fridge will spy on you in the future? What gets covered might change over the years, but the basic necessity of the coverage won’t.
Now that we’ve established the answer to the headline is no, the question is why won’t advances in building safety make renters insurance obsolete? Because, reasons. Many, many reasons. The list goes on and on, but below are a few selected examples.
Regardless of Newer And Safer Buildings, There Will Always Be Someone In An Older One
This is thanks in part to social stratification. When fancy new high-rise buildings with all the safety features you could ever want are built, rents are reduced on the older (and sometimes less safe) buildings. People who can’t afford to live in the new high rises move into the older ones. Guess who gets the short end of that deal?
There are still many people in this country who live in apartments without firewalls. Not only are older communities still in use that are built that way, but it’s also just about every single-family residence that’s been converted into an apartment. Those frame constructed buildings are little more than tinderboxes, and landlords are cramming multiple families into them. That’s a classic example of “your neighbor’s kitchen fire is your problem.”
Building Safety Advances Are Great, But Only If They’re Incorporated Into Construction Practices
In America, apartment communities are still being built with light-frame construction. Someone is nailing together pieces of wood, framing out apartments with it, and covering it with brick and drywall. What happens if maintenance uses a torch to fix a pipe? That apartment turns into a pile of rubble.
Why aren’t companies incorporating the safest and most fire-resistant construction into their new buildings? Because they aren’t obligated to, and doing so is expensive. With that in mind, why would they bother to use better materials? Renters insurance will never be obsolete so long as apartment buildings and their contents are flammable. At this rate that’s…..well, forever!
Any Safety Systems In Your Building Are Designed To Protect Life, Not Property
That’s right, the sprinklers in your apartment aren’t there to protect your computer. They’re there to give you enough time to get out of the building. So what protects your computer and your other valuables? Renters insurance policies. These policies are written in such a way that you’re under no obligation to stay and try to fight the fire. You get yourself and other people out, the insurance replaces your stuff.
Sure, you have to mitigate the loss, if you’re able to do so safely. But mitigation means turning off the water if there’s a leak, and reporting any damage. It doesn’t mean fighting a fire that you’re neither trained nor equipped to fight. Besides, no company will ever guarantee their safety systems will save lives, even if it may be true, because they’d be sued into oblivion.
Contractors Cut Corners
Yes, we said it. Subcontractors who build apartments will cut corners where they can. Does that mean you’ve got half-inch drywall instead of three-quarter? Maybe not, but it’s not unheard of. When it comes to life and death, though, you should assume that someone cut a corner somewhere along the way, and prepare for the worst. The worst case scenario is that it will impact you negatively at the worst possible moment à la Murphy’s Law.
Obviously such occurrences are in the minority, but it would be foolish to think that they simply don’t happen. Renters insurance will never become obsolete, so long as it’s possible to have an accident.
As Long As There Are People, There Will Be Dishonest People
It’s unfortunate to say, but another reason you need renters insurance is because someone out there has their eye on your stuff. Maybe they want your electronics, or maybe they want the cash those electronics will bring at the local Steal ‘N’ Pawn, but either way, they’re going to try to take what you have.
You can install alarms, you can be aware of your surroundings, but there is no foolproof way to safeguard your property from theft. As soon as you design a foolproof method, someone else designs a better fool. Renters insurance won’t be obsolete so long as there’s someone willing to steal from you.
Negligence Can’t Be Bred Out Of Humans – Evolution Has Tried For Millions Of Years
Sometimes, your head is just not where it should be. You’re walking along, thinking about something, and next thing you know someone has ridden their bike over your foot. You want them to make you whole again, right? They owe you! That’s what liability coverage on your renters insurance policy is for.
Ultimately, there are thousands of reasons why building safety advances will never take the place of Glendale Renters Insurance. Most of those reasons are related to human error and negligence, some are related to the bad side of humanity in general, and some are related to the fact that your life is impacted by random chance on a daily basis. Lightning fires are a perfect example of that.
As long as there is random chance, and as long as buildings are flammable, and as along as there are people who are willing to take what you have rather than earn something on their own, you’ll need renters insurance. The best way to get it is with Effective Coverage, where you can get affordable renters insurance in just sixty seconds online just by clicking above.
Effective Coverage offers the nation's only completely mobile platform to quote and purchase renters insurance right from your phone or tablet in just one minute. Get an online renters insurance quote today and protect your family.Photo Credit: US Army Corps of Engineers USACE continues construction... CC BY 2.0