Comments on: Renter’s Insurance: We go one better…

By: Rent vs Mortgage: Calculating Tangible and Intangible Costs | Frugal Dad

Rent vs Mortgage: Calculating Tangible and Intangible Costs | Frugal Dad — Tue, 18 Aug 2009 10:00:53 +0000

[...] the loan, and even if they didn’t it is still a good idea). Renters should investigate renters insurance as it is typically very cheap relative to the contents of your rented home. Since renter’s [...]

By: Laura

Laura — Fri, 14 Dec 2007 19:09:29 +0000

I need to get some for us! We could use the protection.

By: Becky

Becky — Fri, 14 Dec 2007 17:59:08 +0000

I’m so glad you got renter’s insurance! I would agree with frugal zeitgeist about taking pictures. Speaking of which, I haven’t done that since I moved! I’ll update them and keep them on Flickr so I can get to them if our house burned down.
I used to work in insurance, so a couple of thoughts. Make sure you have replacement coverage on your possessions. Hmmm, sounds like a topic I should do a post about
Also, I highly recommend increasing your liablity coverage to $500,000. It will probably only cost you another $10 or so PER YEAR and in today’s sue-happy world, it’s a really, really good idea. Might even be another post idea for me!

By: SavingDiva

SavingDiva — Fri, 14 Dec 2007 16:31:51 +0000

I have had renters insurance for about a year and a half. I pay about $8.50/month…I spend about that much on a burrito at Chipotle…my peace of mind is definitely worth a burrito every month.

By: mrsmicah

mrsmicah — Fri, 14 Dec 2007 15:15:59 +0000

Yeah, E. C., I got that one too, and they got my name right. It was funny, because I went there first, but there’s really not much you want to bring the SS card out for…so I couldn’t really prove my new name.

By: E.C.

E.C. — Fri, 14 Dec 2007 15:09:58 +0000

Have you changed your name with Social Security as well? When my mom did that, she messed up the paperwork, so now she’s First Middle Last to Social Security and First Maiden Last on most other documents in her life, including her driver’s license. It hasn’t caused any problems in the quarter century she’s been living with that situation, but she still worries that someday it will.

By: mapgirl

mapgirl — Fri, 14 Dec 2007 04:19:10 +0000

Amanda – *smacks forehead* Yes. That’s why it’s shocking that most ppl don’t have renters insurance. It’s less than one month’s rent!!!

YAY Mrs. Micah! That’s a lot done with one phone cal!

By: frugal zeitgeist

frugal zeitgeist — Fri, 14 Dec 2007 04:16:30 +0000

I would suggest taking pictures of the things you would want replaced in a disaster and putting them somewhere safe. Also, when my neighbor upstairs left a tap on for eight hours and completely destroyed my ceiling and walls, his insurance company (Allstate) tried to browbeat me into making a claim on my insurance instead of having my neighbor’s insurance pay for it. He didn’t back off until I pointed out that I’m also an Allstate customer and they would be paying in any case.

My neighbor’s policy did pay in the end, but be careful of dirty tricks like that. Insurance companies will often go to great lengths not to honor a claim, so if you ever need to make one, be prepared to fight.

By: Kacie

Kacie — Fri, 14 Dec 2007 03:23:51 +0000

Awesome! I went through All State as well. I may never need to file a claim, but the peace of mind is so worth it.

Plus, when we become homeowners, we might be able to get a discounted policy (I think).

By: Amanda (Me vs Debt)

Amanda (Me vs Debt) — Fri, 14 Dec 2007 03:22:02 +0000

Wow, I had no idea it was that cheap… now that I do know I have absolutely no excuse not to get it. Thanks for the post!