But then you got home from class today to a sobering
sight. Your stereo system is gone along with all of your CDs,
including that imported Jimi Hendrix disc it took you five years
to find. All of your Guess jeans, Tommy Hilfiger shirts, and
even your stylish Armani suits are gone.
So is your computer with your term paper and semester project
work in its hard drive. Your professor is never going to buy
this excuse without a copy of the police report.
Even the notebook with the phone number of that cute girl from
the party is gone.
One of those guys you didn’t know last night was casing
your place, and now they have made off with all your stuff.
What are you going to do now?
If you have renter’s insurance, you could call your agent
and get started replacing your things and moving on with your
You may not think your belongings have much value, but consider
the cost of the outfit you are wearing right now. Take into
consideration how much you paid for your shirt, pants, shoes
and any jewelry
that you are wearing. The shirt may be from Macy’s and
may have cost you $60. The pants from Banana Republic, another
$30. If you are wearing your favorite Nikes, they may have
set you back $50. The Diesel watch cost $60. Now take these
and multiply them by your entire wardrobe.
Even if you are into thrift shop chic, the collection of antique
Hawaiian shirts you scored for only $5 will be hard to replace.
That’s a lot of nights at Pipeline you will have to skip
if all your cash is going to replacing your stolen stuff.
Then add in your personal computer, stereo and music collection.
And what about those five textbooks that total more than $400.
And the television—how are you going to find out who the
last “Survivor” is now? The costs are starting
to add up!
Renter’s insurance protects your belongings from unexpected
losses such as theft, fire, or vandalism. Many people are under
the assumption that their landlord’s insurance will cover
these losses, but this is not so. The insurance that a landlord
carries is to repair the space that you are occupying if it is
damaged. If someone breaks into your room and steals all your
stuff, the landlord’s insurance will pay for the window
that the thieves broke. And that’s all.
Additionally, renter’s insurance covers your belongings
while you are travelling. This insurance will help you to recover
if you ever are faced with the trauma of waiting at an airport
baggage carousel for a suitcase that never arrives.
When you think insurance, you probably expect a major hit to
your wallet. Not true for renter’s insurance, which will
average less than $15 for $25,000 in coverage.
So the next time you spend $3 a cup of coffee, consider that
one-week’s worth of Starbucks could pay to replace everything
you might lose in a robbery or a fire.
Renter’s insurance won’t help you with your professor,
and it won’t find that cute girl’s phone number,
but it will help replace the physical things you’ve lost.
And peace of mind is worth a lot more than a double latte.