What on earth does the Chinese stock market have to do with renters insurance? It’s not as if your insurance company invests premium dollars in that market, for obvious reasons. If you did, well, your Renters Insurance doesn’t cover investment loss. So what’s the connection? You’ll be shocked at this one small parallel that will show you why you need renters insurance today!
Reviewed over time, China has a long and storied history of making questionable decisions with regard to their currency and their economy. The recent repeated devaluation of the local currency is just the most current example of the same. It seems to be a national pastime of the leadership, actually. But we’re not here for an economic analysis, we’re here to try to figure out why this is relevant to renters insurance.
Wall Street wasn’t happy about the currency devaluation, but they sucked it up and marched onward. Then the Chinese stock market began to slide. As it slid, it set off a mild international panic. First Asian stocks started to slide. Then Europe took a hit. Then the Dow got nailed. Oh, and don’t forget that oil prices dropped precipitously on a worldwide level. The contagion may still be spreading, though hopefully the upcoming weekend will allow everyone some time to stop and take a breath and realize that panic is not an ideal response.
So what does this have to do with why you need Renters Insurance? The United States mostly has good neighbors who make sound fiscal policy. We live in an upscale neighborhood and we know that we can count on the UK, Germany, and the Swiss to generally make responsible policy decisions. But there’s always one in a neighborhood who poses a risk to everyone to literally burn down the house.
Think of the Chinese stock market as your neighbor down the hall. If he burns down his apartment because he walked away from something on the stove, that doesn’t impact you per se. You have a few neighbors in between you, though. Think of those as Singapore and Germany. When the flames, smoke, and water progress through Asian and European markets, then they start to pose a threat to your apartment.
The jiggery-pokery in the Chinese markets is equivalent to your neighbor a few doors down having a fire, because the damage isn’t just limited to your neighbor’s apartment. No matter how carefully you live, it can affect you and your apartment. When that happens, you’ll be glad that you have Renters Insurance. No matter how carefully you live, you can’t account for the behavior of your neighbors and other people in your community.
That’s why it’s so important to have the coverage to protect you from whatever happens, whether it’s your own doing or not. The odds of China taking responsibility for the damage they’ve done to foreign markets are not betting odds. The odds of your neighbor taking responsibility for the damage their fire does to your apartment are about the same. When you have renters insurance, you make a claim for the damage to your property, and then it’s up to your insurance company to recover the money they paid out – it’s just not your problem.
Trying to get a foreign nation to make you whole is no more difficult than trying to make your broke neighbor down the hall to make you whole, but no easier, either. Get coverage for yourself, and leave subrogation to your insurance company. That allows you to get back to the business of living with minimal disruption, and avoids all sorts of unpleasantness between neighbors. To find out just how easy it can be to get covered, and how affordable it can be, just call (800)892-4308 or click to get covered - whether you need renters insurance quotes online or coverage anywhere else!
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