Is Renters Insurance Worth It?

We’re often asked if renters insurance in is worth it.  Often enough that it deserves a post of its very own.  Is it worthwhile to have York, PA Renters Insurance?  We’ll let the facts speak for themselves.

Best Case Scenario: No Claims Ever

The average cost of renters insurance is about fifteen dollars a month.  With very basic coverage of $15,000 for personal property, you’d have to have the policy for a thousand months before having a loss, in order to not get more from your claim than you’ve paid in over the years.  How long is a thousand months? Eighty-three years (and change).

Now ask yourself, will medical science advance enough by the year 2100 that you can expect to live much beyond that?  It’s highly unlikely.  Renters insurance is a win-win proposition.  The base level of liability coverage is $100,000.  If you’re sued once for that amount, even if the claim isn’t paid because the suit is frivolous, the defense costs paid by the insurer more than make up for the money you paid in.

Another Scenario: Neighbor Has A Small Fire

“Small” is, of course, relative.  In an apartment, there is no such thing as a small fire because the damage can spread quickly and smoke and water can permeate the entire building.  In the last few months, we saw a liability claim for forty thousand dollars in damages from a fire.  That damage was mostly limited to one apartment, other than smoke and water.  What started the fire?  The resident turned a rice cooker and then ran to the store “just for a minute.”  A minute is all it takes for a fire to start and spread.

The smoke and water damage to your clothes and property may not be able to be repaired, which means you’d have to replace everything.  Can you afford to do that with the cash you have on hand right now?  Probably not – most people can’t.  That’s why renters insurance in Carbondale is worth it.

Another Scenario: An Older Person Trips Over Your Toddler At Church

You’re at Church on Sunday with your toddler.  You’re chatting with someone, and your three year old wanders off a few feet to go look at something interesting.  They don’t see the lady with a walker, they get tangled up in her walked, and she falls and breaks a hip.  You are now responsible for her medical bills, because your negligence caused your child to make her fall.  Can you pay her medical bills?  You shouldn’t have to, that’s what liability is for.  That’s why renters insurance in Carbondale is worth it.

An anonymous commenter on the internet had this to say about whether renters insurance is worth it and where to get the cheapest policy:

Yes, it’s worth it. It takes a couple of minutes and costs about fifteen bucks each month.  Where would you get the cheapest plan? Did you really just ask me that? Who cares? For fifteen or twenty bucks a month, my time is valuable enough that I’m not going to spend hours shopping around to save eighty cents a month, or even five bucks a month.

While blunt, that commenter is most definitely not wrong.

There are so many different ways that your renters insurance can be useful. While most people are quite careful, lapses in judgment do happen. In a litigious society, and with healthcare costs where they are, it’s wise to make sure that an injury or property damage you cause to someone else is not going to bankrupt you. With costs for renters insurance so low, there’s no reason not to have it.

A pain point used to be that it was difficult to get renters insurance. That’s no longer the case. You can now get renters insurance in just sixty seconds. The entire process, from entering your zip code to being covered, is that quick. Effective Coverage has taken the pain out of the process, and you can do it all online. All you have to do is click above.

There are infinitely more scenarios where the coverage would be helpful, but the bottom line is this: Renters insurance is worth is, and would be at any price.  Fortunately, that price is very, very low.  To find out how affordable your coverage can be, just call (800)892-4308 or click to get covered - whether you need PA renters insurance quotes online or coverage anywhere else!

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..

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