Caprice who is in her first apartment, wrote us about Forth Worth, TX renters insurance. She asks,
Should I get renters insurance? I’m in my first apartment and I don’t really have anything of value. What I do have is all secondhand so since there’s not really much worth protecting, should I get renters insurance?”
Well Caprice, we get that question often. Invariably, the answer is the same and here’s why.
Should I Get Renters Insurance?
Once in a while, someone asks us should I get renters insurance? While the reasons and benefits may vary from person to person, our answer remains the same.
You might want to take a look at our question what is renters insurance for a brief reminder of what renters insurance is. Once you know what renters insurance is and what it does, the answer to your question will be clear. “Yes.” Why, you ask? Well, come with us as we dig a bit deeper.
Should I Get Renters Insurance? Well, Do You Own Stuff?
If you own anything at all, you should get renters insurance. Sure, your property may not be worth much in and of itself, but what would it cost you to go to the store and replace it all at once? A lot of money, right? Renters insurance pays for replacement cost, so you get the cost to replace the item, not the actual cash value. The actual cash value of that secondhand couch might be five dollars, but after suffering a loss it’s going to cost you far more than that to replace it new.
Should I Get Renters Insurance? Do You Live In An Apartment?
If you live in an apartment, you should always have renters insurance. Remember that you’re in very close proximity to the lives of many other people. One act of negligence in their lives could wipe out everything you own. By the same token, one act of your own negligence could wipe out twenty, thirty, or more families lives. You need renters insurance with personal property coverage in case something happens to your things, as well as renters insurance with liability coverage in case you damage someone else’s property. So if you live in an apartment, or a rental home then yes you should get renters insurance.
Should I Get Renters Insurance? Do You Have Money? Any Money At all?
If you have money, a job, student loans, tax refunds, or any source of income at all, you should have renters insurance. If you’re in college, take this story to heart. One of our insureds was playing Nerf darts with some friends in his apartment. A Nerf dart went into a friend’s eye, resulting in significant medical expenses for the friend, and liability exposure for our insured. Without renters insurance, our insured would have been personally responsible for all that money and therefore, all his future wages and income could be garnished to pay for it. We assure you, this is not a good way to start life after college. So yes, if you have an income you should get renters insurance.
Should I Get Renters Insurance? Do You Have Friends?
If you have friends, you may not have them for very long after they trip and fall in your house and are trying to pay their medical bills out of pocket. Crazy things happen, and you want to avoid being sued for those crazy things. So if you have friends, acquaintances, or anyone at all ever steps foot in your apartment then yes you should get renters insurance.
Effective Coverage has years of experience matching tenants with the right policies for their needs at the correct stage of life. Make sure that you and your future are protected, and get renters insurance! Contact Effective Coverage at (800)892-4308 for more information or click above for a free online renters insurance quote in Texas or anywhere else nationwide!