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Yeah, renter's insurance covers your personal property. Most leases include a clause that says they aren't responsible for your things, and suggest getting renter's insuarnce. I have renter's insurance with a very low deductible and it's still only $15/month, and even includes putting me up in a hotel if, for example, the upstairs tenant were to flood the place. Landlord has to fix the problem, but not put me up in a hotel or replace my things. The landlord would have to abate my rent (not charge me rent until I could move back in), but is not responsible for the damage to my personal things, or pay for me to stay in a hotel until I can move back in.
Many landlords now require insurance by tenants, just to avoid this type of situation.
Many renter's insurance policies will cover the cost of food lost through a power outage. If you have renter's insurance, check your policy. f you don't have renter's insurance, now would be a good time to look into it as if offers a lot of protection for a very minimal premium.
I got an online quote of $35 per month, that does not sound minimal to me.
My renter's insurance was $115/year. A $35/month premium is ridiculous.
Mine is $115/yr, but with AAA it's billed over 3 months, making it $38 and change for those 3 months. Perhaps there was some confusion when freemkt got his/her quote?
I got an online quote of $35 per month, that does not sound minimal to me.
Well, if you lose everything, and you didn't have insurance did you come out ahead? That's the bottom line.
My renter's insurance is about $15/month with zero deductible. This includes about $3,000 if I'm displaced due to something other than a flood from outside (as in a tsunami or major storm). The additional coverage for a flood or tsunami isn't worth it to me.
But, the bottom line is, it's your choice on how much you want to insure.
Mine is $115/yr, but with AAA it's billed over 3 months, making it $38 and change for those 3 months. Perhaps there was some confusion when freemkt got his/her quote?
he has awful credit and insurance scores put heavy weight on credit scores in most states .
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