Is renter’s insurance worth it?
by 
CousinVinny
ANSWERS: 6
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Yes absolutely it is and its dirt cheap.
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Yes, especially if your place catches fire and you lose a lot of your valuables. There are lots of other scenarios as well.
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OH YEA! Murphys' Law, remember. If it can go wrong, it will go wrong, and you have valuable possesions that need to be insured in case of a disaster.
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I always thought so..but I never had to use it. A friend of mine got robbed and they spilled wine all over his carpets and ruined his furniture and it cost him a fortune...insurance would've covered that.
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I suppose it depends on how much your property is worth. If the premises you are renting is broken into and everything is stolen, insurance would cover that. If there was a fire, the landlord would be compensated for the real estate, but you would get nothing from his insurance policy for the contents of the apartment that belongs to you. If all of your furniture is second or third hand and you buy your clothes at a resale shop and you have little or no jewelry or other valuables, then insurance might be not necessary. Think about it this way: if you came home one day and your entire apartment or house was empty, could you afford to replace it. Renters insurance normally isn't too expensive. It might be worth at the very least getting a quote and seeing if it is what you should do.
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You also want to pay attention to whether the insurance is for "replacement value" or full value. If you have a 20 year old stereo and an insurance policy that uses current market value of your existing items, then you're likely to get about $15, far short of what you'd want to buy a new stereo. The tradeoff, of course, is that those policies are cheaper.
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