Johnny_M

Attention Home Renters.. do you have insurance?

I recently moved into a 50 yr old house that I am renting and it got me thinking, with all this expensive HT stuff I have, and all my other expensive hobbies, I wonder if I should be setting up renters insurance. It's an old house so I worry about fires and things like that, but its a very quiet neighborhood (mostly retired folks) so I'm too concerned about theft.

Do you guys have renters insurance? Or do you take your chances and hope for the best.

Johnny

Pamela

I have renters insurance. I pay around $240 for $30,000 in coverage. It gives me peace of mind.

Johnny_M

wow thats a good deal. i called 1 place and and they wanted about 350/year for only 20,000.

who are you using?


Johnny

Kami

mark alan

If you are renting a house and someone slips on the icy sidewalk, guess who is potentially liable (hint, it ain't the landlord). Renters insurance will give you liability protection that you will want to have.

Johnny_M

well, we dont get much ice here in california, but i think i will look into getting the insurance regardless, its cheap enough I'd be crazy not too. My car ins. company does not offer it, any good recommendations of west coast companies that offer renters insurance by itself? many places (like AAA) want you to sign up with their other offerings also.

also, how do you generally prove what you own? do you need receipts for everything? that could be hard to dig up as I am not a good record keeper.

Johnny

CRyan

It amazes me at all those that do not have renters insurance. It costs so little and it covers so much really. I got mine through Nationwide - got a discount with having car insurance with them as well. Mine was only $180 a year for $20,000 coverage with $300,000 liability.

Anyway, simply take pictures of everything and keep a log of everything you own with serial numbers etc.

Get it.

C. Ryan

Kevin Eckhardt

Just like auto insurance renter's insurance premiums can vary for quite a number of reasons. What state/city/neighborhood you live in, the age and construction of the dwelling, proximity to fire and police stations, whether or not you have a security system, etc. You should call around and get quotes from several different companies.

You'll need to do an inventory of all of your belongings to figure out how much coverage you need to get. This doesn't need to be a listing of every single thing you own, but go through the house room by room and make a guess at how much would cost to replace your furniture, your kitchen appliances/plates/cups/etc, your clothing, books, CD's, HT equipment, etc. It often adds up to more than you think. To insure collectibles, antiques, artwork, jewelry and some other items above a certain amount you might have to add on additional coverages to the policy. Also you want to make sure that the insurance covers the replacement cost of your property and not its depreciated value (I think most polices cover replacement cost, but it's a good idea to make sure)

Pamela

Johnny, I use Mercury Insurance. I also have my auto insurance with them. I'm located in the L.A. area.

My insurance agent told me to make a spread sheet with everything I own, and include the serial numbers. He also told me to scan my receipts and take photos, then burn two CDs. One CD is kept at home and the other is in my desk drawer at work.

I just checked my policy, and it was $279.

Michael Hein

I got $35 000 for about $175.00 Cdn a year. Time to renew by the end of this month too...

Phil_L

A landlord IS likely responsible if someone falls on the ice outside your home. The law in your state most likely imposes a statutory duty upon landlords to provide for the safety of their premises. If they fail to do so, they are liable. Inside your apartment, you could be liable for injuries to guests, however. You still need renter's insurance to cover your personal property.