$@%# happens! Though we cannot always prevent $@%# from happening to us… there are ways to protect us when it does. There are many types of insurances out there. Some we need… some we may not need. But most of us have at least one kind of insurance policy whether it be life, health or auto. Virtually every home owner has homeowner’s insurance. But very few renters invest in renter’s insurance.

I want tell you a true story. Last week a raging fire engulfed a quadreplex less than 5 miles from my home. One occupant of those apartments is a co-worker of mine. Thankfully no lives were taken in this tragedy, but unfortunately the apartments and all of its contents were completely lost.

The owner’s had insurance on the property which protected their interests… the apartment itself. The contents of the apartments are not covered by the owner’s insurance. Tenants are responsible for insuring their own interest.

In this case only one of the four apartments was covered by renter’s insurance. My coworker’s apartment was not one of the four. So now she is left with nothing. Today at work we held a fund raiser on her behalf. We collected a pretty decent amount of money, but it was nowhere near enough to get her back to her normal standard of living.

If only she would have had the foresight to know that this would happen… But since we can’t all be Sylvia Browne, we need to cushion the blow when $@%# does happens… and believe me it happens all the time. Protecting yourself makes a tragedy less tragic.

Why is renter’s insurance important?

1 - It covers your assets in the event of fire, theft, wind, and other events like lightening striking and sending a surge of electricity through the outlet straight to your brand new fancy big screen tv.

2 - It also comes with liability insurance. Why is this a big deal? Lil Suzy from across the street comes over to attend your baby’s 3^rd birthday party. As kids are known to do, she plays and runs around your home. Lil Darryl from next door is also at the party. He doesn’t like the strawberry ice cream so he tosses it in the trash. But he’s only 2 so his aim is not that good and it all winds up on the floor. He’s afraid to tell you he made a mess so he just leaves it there and it melts. Excited Lil Suzy, who’s still running around, races past the trash can and slips on the melted ice cream. She falls hard, hits the ceramic tile floors and bruises her butt and chips a tooth. Yes, simple childhood accident… only thing is that you are now liable for Lil Suzy’s medical bills and all of her pain and suffering. That can do your bank account some damage… that is unless you have renter’s insurance.

3 - It’s too cheap not to have. Most renters’ insurance policies are less than $20 month… which is nothing to protect your belongings. Some people may think their stuff is not worth enough to be insured, but if you start adding up how much it would cost to replace the items in your home… that number will get really big really quick.

If you get renter’s insurance, you will be doing yourself a big favor. Check here to find the best rates and coverage.