6 Stories That Will Make Clients Reconsider Doing Without Renters Insurance
Renters insurance is too often seen as an unnecessary add-on by people who live in apartments or homes where they pay rent instead of mortgage. Part of the reason for the oversight is that many renters are more cost conscious and want to cut out as many expenses as they can. However, this is one area where it is irresponsible to do so. While we’ve covered the benefits of renters insurance in the past, nothing puts it in perspective like actual examples. For that, we’ve turned to the commenters on AskReddit. The question: Is renters insurance worth it? Here are some of our favorite responses.
- “Absolutely, yes. I didn’t have renter’s insurance for years, because I was too lazy to call anyone and actually get it. Then a fire erupted in my apartment building, and destroyed a few dozen units. Now, thankfully, they were all on the other side of the building. None of my stuff was harmed. But it was sobering reminder that if the fire had been on our side of the building, absolutely everything I owned would be gone. I’d have started over from scratch. I called for renter’s insurance that day. Turns out, it’s freakishly cheap. There is absolutely no reason to not have it. None at all.”
- “A friend of mine was renting an apartment, and decided to go on vacation for several weeks. Their kitchen sink had a slow-drip leak. Unfortunately, they packed up and left while a plate was sitting in the sink, waiting to be washed. At some point, the plate shifted and covered the drain. Needless to say, the sink eventually overflowed, for weeks, and caused thousands of dollars in damage to the apartment below theirs, in addition to their own apartment. They had no renters insurance, and neither did their neighbor.”
- “Someone broke into my place and stole some of my s***. I’m glad I had insurance to cover the cost of it.”
- “I’m getting mine for $9/mo. It is definitely worth it. I had 2 friends lose all their stuff in a fire, and didn’t have renters insurance. They literally lost everything but the clothes on their back, and it took years to replace everything, even with a ton of help from friends and family.”
- “My girlfriend’s car got stolen a little while ago. They cleaned it out, EVERYTHING. When she went to claim on insurance they said she’d have to claim through her renter’s insurance for anything that wasn’t physically attached to the car (clothing, car kits). Keep that in mind. Also, if you ARE going to get it make sure you take photos of EVERYTHING that you own. That way you have proof that it existed when it goes missing or gets destroyed. Record serial numbers as well.”
- “My husband has several computers, we have a big screen tv and several game systems. We live in an apartment building with 11 other apartments. You never know who’s leaving their gas on or smoking in bed or what. We don’t have enough in an emergency fund to cover those things if there was a fire or something. I recommend taking pictures and saving receipts for anything new purchased (large items) after you get it.”
As an insurance agent, it can be difficult selling renters insurance to cost-conscious people who are unlikely to think about the worst-case scenarios. And with a large number of young people who rent, it’s possible you also have to overcome the “invincible” mindset. Sharing stories like the above can put renters insurance in very real terms to ensure a higher adoption rate. Feel free to pass along!