Walk through your house and take a close look at what you own.  You may think, “I don’t own much at all, very little is of any real value, why do I need renter’s insurance?”  Some things on an individual basis may not be expensive, and you may think they aren’t worth much, but what if you lost several things all at the same time, it could end up being very expensive to replace, especially at a time when every penny might be needed.  This is where renters insurance pays for itself many times over. 

Lets consider an example where renter’s insurance would be invaluable.  A fire occurs, part of the house and some of the contents is burned, and there is a great deal of smoke damage.  Renters insurance will not cover the structure of the house or apartment (that comes under the owners policy) but it does cover the contents that you own.  Think what it would cost to replace a sofa, lamps, tables and chairs, pictures, dishes, pots and pans, towels, all the things you have in the kitchen, or any other room in your home. How about tapes or CD’s?  These are just some of the things renters insurance covers.

Another thing to consider is your clothing.  Loss or damage to clothing is very expensive.  Renter’s insurance is there to help cover the cost of replacing or cleaning your clothes.  Even buying clothes the least expensive way possible, at a thrift store or discount store, can run into hundreds or  even thousands of dollars.   

Now, take a walk through your house.  Itemize your kitchen, living room, den, bathroom or any other rooms. Can you really afford not to have renter’s insurance?