Contents Insurance for People Who Rent?
By megs85
@megs85 (3142)
Australia
July 19, 2007 1:31am CST
I am currently renting with my partner. We are in the process of saving for a deposit for a house. My sister in law is also renting.
I am curious as to how many people who rent actually have contents insurance?
My sister in law does, however we do not. I suppose the truth of the matter is it is something we have never really thought about.
I tend to think of contents insurance being worthwhile for people who have things such as antiques or other valuables, but my sister in law thinks everyone should have contents insurance for their day to day items...
What do you think?
Are things like tv's, computers, dvd players, stereos and cd's worth paying contents insurance for?
There are two ways I can look at it.
1. If someone were to break in and steal all of our possessions we would have ahard time replacing it all in one go...
2. On the other hand, say we pay 100 bucks amonth insurance, and never get robbed... after 10 yeards we would have forked out over 12,000 dollars... for nothing?!
So two questions really.... i/ do you have contents insurance (and areyou renting?) and ii/ why/ why don't you think it is/ isn't worthwhile?
4 people like this
7 responses
@horsesrule (1957)
• United States
19 Jul 07
I wish that we had contents insurance. It would be such a huge burden off the back of my mind. It's not just about burglars breaking in and stealing our stuff, it's also about the house burning down or some other disaster and the landlord with get their house back or the insurance money but we would end up with absolutely nothing. It's scary when I think about it. I had a friend who did have a fire in their garage and they did have contents insurance and they ended up with quite a chunk of change plus cleaner who came and packed up their stuff and cleaned up the smoke damage. Because only the garage was destroyed but the house had smoke everywhere. So I know it works and I do wish we had the money to invest in contents insurance. Just for the peace of mind.
2 people like this
@megs85 (3142)
• Australia
19 Jul 07
I hadn't really thought of it from that perspective. Considering the droughts, and bushfires and floods here in Aus, you think that would be something that would cross my mind- duh!
Perhaps we should look into investing in it...
Hmmm, thanks for the fresh perspective to chew on :)
2 people like this
@Calais (10893)
• Australia
19 Jul 07
I own my own home now, but many years ago when I did rent, of couse ZI had contents insurance..Theres no way that I wouldnt..Everything in the house is mine and all that I own, how could you afford to replace it if it was burnt, stolen, or ruined..I think that its absoltely silly not to have it.
2 people like this
@rusty2rusty (6763)
• Defiance, Ohio
19 Jul 07
No, I don't have conetent insurance. To be honest we couldn't afford right now anyways. The only thing that I would really want to save are pictures. My family has copies of everything of pictures I get. So I can reprint them. Other that ...my family, and pets out safe and I am a happy camper. I could start over..no problem. I have started out with less without a fire.
1 person likes this
@megs85 (3142)
• Australia
19 Jul 07
Pictures are irreplacable, i agree...
As I mentioned above, I am worried about how i personally would do it with two young kids, as I have never been in that situation before. We have never had a lot, but I think the neccessities I have had have made me almost lazy... if that makes sense. Like, for example.... washing clothes by hand (I do it only when they are delicates) without a washing machine I would have to... And how would i keep food cold and milk for my son cold were I to have no fridge? See, its things like that that do my head in lol...
2 people like this
@meme0907 (3481)
• United States
19 Jul 07
Hey megs,
I just came from owning my home one month ago & of course I had all my property in the home insured but now that I'm back renting again I don't think I'll get renters insurance simply b/c I can't afford it.It's like you said by the time I've paid for insurance if somthing were to break then I could have just bought a new whatever.I think the only way it could be worth it if some disaster happened & you lost everything & nobody anticipates that happening to them besides I've lost everything once before & I'm still alive w/ my family,my posessions are not more important than life.
+'s |:)
1 person likes this
@megs85 (3142)
• Australia
19 Jul 07
I know what you mean, life IS more important than possessions, I'm thinking about how I would go without a fridge with anewborn and a toddler. Or a washing machine. Or a car. Or car seat. Or pram... you get the picture...
I'm thinking, what if my family couldn't help because it was a national disaster or something...
Touch wood here lol
I dunno, its definitely something I am thinking about...
2 people like this
@mada9898 (193)
• United States
20 Jul 07
It is called renters insurance. I have it and I pay only $18.00 per month. It covers everything our jewelry and other items. It also covers floods, and acts of nature. Just think if you were in huricane katrina and had insurance at least you would have stuff.
@petermason2000 (238)
• United States
20 Jul 07
Get the renters insurance. Starting all over sucks. If your rental burns to the ground, the landlord's insurance does not cover your losses. You'll be stuck homeless and with no possessions. Get the insurance.
@cloud_kicker_32 (4635)
• United States
19 Jul 07
Although its a great idea..i agree with you..I would spend all that money a month and never have anything ever happen..and if something were to happen, that6 hundred a mth i woul duse for insurance i could save and buy what i lost.,.but then again it also depends on where u live..if major catasrophies happen alot..and flooding and etc..bad neighborhood..yea i would without a doubt..but where i live in PA..i really have nothing to fear..KNOCK KNOCK!! LOL LOL!!
