Is Renters Insurance Worth the Trouble?
As with any insurance policy, it is always wise to seek coverage for your rental property and the possessions within. You want to have a safety net to pay for damages not only to the home or apartment itself, but also your own things and even personal injury to persons on the property.. That’s right, most renters insurance policies protect the residents’ personal property from losses, and also cover certain injuries to individuals on their property who might, for example, be hurt during the same events which damage the property itself.
There’s a wide variety of circumstances that renters insurance covers. These include, but are not limited to:
- Unintentional fire damage
- Lightning strikes
- Damage from snow and/or ice
- Damage from hail, flooding, heavy rains
- Wind damage
- Property theft
- Smoke damage
- Falling objects, such as trees or other items
- Water damage due to leaks or faulty plumbing
Again, the above are only a few items which may be covered by a renters insurance policy, and certainly it is therefore a smart move to try and buy at least basic coverage. But remember, such policies also usually cover bodily injury as well as certain costly medical payments for anyone hurt on the property, so long as it was an accident. That is why we strongly advise considering the investment of getting a policy…if you can.
As we mentioned in our other articles about the various types of insurance felons may desire to obtain, getting a renters insurance policy can at times be problematic. And some felons may simply believe it isn’t worth that effort, that maybe they don’t have enough assets to bother covering, or, if the person is really down on their luck, they may feel as if things “can’t get any worse,” so why bother with the hassle of arguing with an insurance company? Why try to convince some kid in a suit and tie that they should underwrite a policy to cover a convict?
You Have More Than You Think
Well, we’re here to tell you–it’s worth the trouble. According to one basic estimate we uncovered, an average person’s home assets within a two bedroom apartment can cost at least $40,000 to replace if damaged. Thus the question becomes, can one afford NOT to have insurance?
Of course we aren’t here to sell you anything but simply to give the facts and let you make the decision for yourself. If you don’t mind the risk of a permanent financial burden due to total property loss or due to some non-insured person getting hurt at your home, then forget the policy and roll the dice. That’s the great thing about being free from prison–you have the ability to make your own choices!