Monday, July 06, 1998

Why Have Renter's Insurance?
By Joann Floyd [email protected]

My best friend from college just had an experience that speaks for renter's insurance. She lived in an apartment complex that had wood-burning fireplaces. The apartment across the hall had a stray spark and caught fire. The fire spread both upward to the floor above and laterally to the neighboring apartments. The floor above was completely destroyed, as were the closest apartments.

Luckily no one was injured and my friend suffered only smoke and water damage, but the entire building was ruined and everyone had to move. The sad thing was my friend was one of the few who had renter's insurance, so while she stayed in a hotel for a month while her things were cleaned, repaired, and replaced, most of her neighbors were homeless and starting over with nothing. The trauma of being displaced and looking for a new apartment was bad enough, but having to worry about food, clothing, furnishings, and deposits would be worse.

Renter's Insurance is not a luxury. When we were renting I asked myself: Could I afford to start over for the price of the premium? And then I never questioned buying renter's insurance again.

Learning While I'm Earning, Always
Hunzi

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