After graduating from college, I got my first apartment. It was very charming – basically it was half a house in an older neighborhood in Evansville, Indiana. I had saved money from a summer job and used it to purchase a brand new sofa and chair. My parents found a really nice used kitchen table, which they bought for me. I took my bedroom furniture from home, and my parents helped me stock the kitchen with all the supplies I would need. It was a big investment. It never occurred to me, until my dad pressed the issue, that I should get renter’s insurance.
My guess is that many folks think either the way I did or perhaps don’t see the importance of having renter’s insurance. Chuck Brammer, Owner/President of A Cleaner World Restoration Dry Cleaning confirmed that thought during a recent conversation. “Most people don’t think about it until something happens,” said Brammer. “Then it is too late.”
Renter’s insurance is designed to protect tenants from loss of personal property. If there is a fire in your apartment or rented home or perhaps a burglary, renter’s insurance provides money for the value of the damaged or stolen items. It can also protect against liability to the rented property if someone is hurt while at your place.
Renter’s insurance is pretty inexpensive. “Usually you can get it for about the price of a soda per day,” said Brammer. “Then you have the coverage and peace of mind should something catastrophic happen.” Wise words – from both Chuck and my dad. Of course, I purchased renter’s insurance shortly after moving into my first apartment. Thankfully I never needed to use it.