Also, does renter's insurance cover damage to your car?

I'm 24, rent an apt, and don;t really have too much stuff of value. Please share your experience or thoughts. Thanks!

 

Yes you should get renters insurance. I think mine costs me only $115 a year. I live in a 2br/2ba apartment by myself and most of my stereo and computer equipment is worth quite a bit. I almost had to use it this summer when the people upstair's a/c busted a hole in my ceiling and almost destroyed some speakers and furniture of mine. I think it's worth it for the $10/month.

It does not cover your car, only Items in your place of rental.

 

If you live in San Francisco, it's not going to cost $115 a year. I priced it in central LA a few years ago, and it was utterly absurd. Something around 4x or 5x that much.

The comprehensive section of your auto insurance covers your car, not renter's insurance.

 

definately get renters insurance.

 

Many leases *require* the renter to obtain renters insurance. You might want to check yours.

 

You should definitely get renter's insurance. It will cover water damages caused by water pipes, heater pipes, etc. Some renter's insurance, as in my case, also covers accidents that occurs around your apt. ie., stairs break and someone falls down, railing, etc. It may cover some outside stuff too i.e. car damages. Check with ur ins. company.

later.

 

My daughter had the same question. She lives in an apartment in Houston. She took my advice and as things would happen about two months later her apartment was broken into and they stole DVD player, PC, VCR, etc. Insurance paid replacement cost on all lost toys. To say the least it was a good investment for a few hundred $'s per year.

 

Go for it. $10/mo isn't going to kill you and you never know if some dumbass below you starts a fire and burns all your posessions to ashes.

My experienceL: It replaced a DVD player for me. Just like a car claim and home owner's claim, don't make a claim over something small like a $150 DVD player. When you go for home owner's insurance, they ask you if you have prior claims, which will increase your premium. Some insurance companies will dock you on this. So a $50 check back from State Farm, then they wouldn't let me purcahse Home Owner's through them.

 

It is well worth it. You may even be able to get a discount on your car insurance by having multiple policies.

 

You may not own much stuff but think of the financial burden you'll have if you need to replace it all tomorrow!