Renters Insurance...got some finally

O

OBIO

Retired SOH Admin
Deb and I are renters...would love to be home owners, but that's not how our cookie crumbled. We have discussed the need for renters insurance a few times, but never really got serious about it. Well, last night we had that discussion again...and this time I opened a six-pack of serious all over it. Today, I got us covered and covered well. The annual premium is $229, or $19.09 a month. For that, we have the maximum level renters insurance Progressive offers (we have our auto insurance through Progressive, so went with them for renters insurance...got a discount by doing so!). 75 thousand dollars personal property coverage, 100 thousand dollar personal liability coverage, medical coverage (can't recall the dollar figure on that....but the max level).

Deb and I don't own much...but we do want to protect what we do have. And we know that we could never afford to replace our stuff if we lost it through fire, flood, theft, etc. And with last year's tax return bringing our new HD tv into the house and this year's return bringing in new living room furniture...it was time we got our property covered. I have no idea how much it would cost to replace our 5 piece solid oak bedroom suite....now we don't have to worry about that. If my PC gets toasted by a power surge, it's covered. If one of our fish tanks breaks and the water damages the floor, dry wall, etc...it's covered.

A small price to pay for piece of mind and the knowledge that we will continue to have what we have.

OBIO
 
OBIO,....I think you made a wise move in getting the renters insurance. You can't go wrong and for it's cost,...well worth it. Before I had bought the home and was an apartment dweller,...I always had renters insurance. Hopefully, you'll never have to use it. It's the ace up the sleeve sort to speak.
 
yup i am also a renter
and believe me its worth every penny
good decision
H
 
Good decision. you probably have a lot invested in all the things you own in the house and it would probably be very hard to financial to replace it all.
 
Deb and I sat down last night at the kitchen table, and looking into the living room, began to write down what we thought it would take to replace all the stuff in the living room. We were surprised when it came to about $13,000. A $1500 television, nearly $4,000 worth of DVDs, some antiques and art glass that would not be all that cheap to replace, the new furniture that we just bought and waiting to be delivered.

We did the same thing for the bed room, my office/sim room, garage (all my tools, washer and dryer). Then add in stuff like clothing, the little decorating items, kitchen stuff, cook ware, dishes....and it was surprising just how much we would need to replace our stuff. In the event of a fire or major disaster, some things could never be replaced....our dogs for instance...sure we could buy two new dogs...but they would never be Brutus and Hazel...but we can't find insurance that could give us another Brutus or Hazel.

Seeing those numbers add up on paper is what got us serious about insuring our stuff....there is no way we could ever afford it all...heck, if my PC got nailed by a power spike, we don't have the money to replace it. Same for the TV, our 5-disc DVD changer.

OBIO
 
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