tag:blogger.com,1999:blog-7366909960546184927.post2107978737692392301..comments2023-06-11T02:19:27.429-07:00Comments on Academic Cog: Apartment scavenger hunt!Sisyphushttp://www.blogger.com/profile/09880634753539329199noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-7366909960546184927.post-78051362451373640512013-07-09T08:35:32.236-07:002013-07-09T08:35:32.236-07:00I have renter's insurance on my apartment, and...I have renter's insurance on my apartment, and it's a $100,000 liability as well. I bought into whatever the apt complex offered (an additional $10 on my rent each month), but it only covers the building or structural issues. It does not protect against theft or damage to my possessions. But I would guess my apartment is quite similar to yours in terms of the value of your belongings. So you should be able to do $100,000 liability for about $150 a year (that was what I was quoted by an Allstate agent). Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7366909960546184927.post-66695020029402456162013-07-08T17:53:27.809-07:002013-07-08T17:53:27.809-07:00I've lived two places where renters insurance ...I've lived two places where renters insurance was required -- one in CA and one in the midwest. It was something like 25 dollars per month, through our car insurance company. We never made any claims with it, but it was nice to know that we'd be covered if something bad happened. Especially if you're like me and have a lot of school debt, you don't need to have any major losses over your head in addition to school debt when you could have had renters insurance for 25 bucks a month. Fie upon this quiet life!https://www.blogger.com/profile/12047096700049201873noreply@blogger.comtag:blogger.com,1999:blog-7366909960546184927.post-26894466938861096072013-07-07T18:15:40.025-07:002013-07-07T18:15:40.025-07:00In some rentals, renter's insurance isn't ...In some rentals, renter's insurance isn't really mandatory. However, some apartments do recommend it highly as do I. It's the smart thing to do especially when you've chosen to live in calamity prone areas. minneapolis apartments downtownhttp://www.symphonyplaceapts.com/noreply@blogger.comtag:blogger.com,1999:blog-7366909960546184927.post-27423695489147821262013-07-07T17:26:51.075-07:002013-07-07T17:26:51.075-07:00Oh, ok. So the 100k liability is standard? And the...Oh, ok. So the 100k liability is standard? And then, you think I'd need 50k for replacement coverage? Or maybe more like 10-20k replacement coverage?<br /><br />Belle, the virgin sacrifice is easy... I'm going to hand over one of my cats; they have caused me enough trouble on this move!Sisyphushttps://www.blogger.com/profile/09880634753539329199noreply@blogger.comtag:blogger.com,1999:blog-7366909960546184927.post-17968555567196806822013-07-07T15:36:08.254-07:002013-07-07T15:36:08.254-07:00The $100,000 renters insurance is to protect *you*...The $100,000 renters insurance is to protect *you* from your landlords (especially the big corporate ones) if something happens to your building, and they decide you are at fault. Most renters insurance also includes a separate "protect the value of your personal property" amount. Sapiencehttps://www.blogger.com/profile/09259871146375570988noreply@blogger.comtag:blogger.com,1999:blog-7366909960546184927.post-37469587014199802952013-07-07T15:02:44.474-07:002013-07-07T15:02:44.474-07:00I would check on the liability - is it to cover pr...I would check on the liability - is it to cover property? Or persons? My liability coverage is in case somebody gets hurt on my property. So if they break a leg, and come after me for not sweeping the sidewalk, the liability coverage covers that. The other is property damage; I'd be clear on what they want covered.<br /><br />The virgin sacrifice is a tough one!Bellehttps://www.blogger.com/profile/10849272391043604637noreply@blogger.comtag:blogger.com,1999:blog-7366909960546184927.post-67036396293693382182013-07-07T14:54:27.331-07:002013-07-07T14:54:27.331-07:00I think I own maybe ... $5,000 worth of stuff.
If...<i>I think I own maybe ... $5,000 worth of stuff.</i><br /><br />If you're like every other Lit Studies academic I know, you probably have at least $5000 worth of books alone. And if you had a catastrophic house fire, you'd need to buy new clothes, new furniture, new toiletries and cleaning supplies, a new computer, etc. etc. You might not need $100K, but I'm willing to bet you'd blow through a <br />$50,000 insurance settlement in a couple of months. (I lived through a house fire about a decade ago, when I was still a renter. My wife and I would have been ruined without the insurance. Just sayin'.)Shane in Utahnoreply@blogger.comtag:blogger.com,1999:blog-7366909960546184927.post-8185267458887169192013-07-07T13:51:49.631-07:002013-07-07T13:51:49.631-07:00Remember the liability part of the renter's in...Remember the liability part of the renter's insurance policy covers not *your* belongings, but the harm that you might do to the property, and/or to other residents (so, for instance, if you left a pot to boil dry on the stove, and the resulting fire damaged not only your belongings but your neighbors', and/or your own or neighboring apartments). The principle is basically the same as requiring auto liability insurance even if you choose not to insure a clunker that could be totaled by a fender-bender for damage to the car itself. <br /><br />This is purely a guess, but I suspect that insurance companies that cover the apartment complexes are pushing the renters' insurance requirement, because it adds a first line of reasonably-deep pockets (your insurer's) to dip into in the case of calamity, before the landlord's insurer is on the line. <br /><br />It is, indeed, fortunately usually fairly cheap. If you are eligible to be insured through USAA (you need to be a veteran, or to have a relative who is a veteran; I'm eligible through my peacetime-veteran father), I recommend them (they also offer very good banking services). Contingent Cassandrahttps://www.blogger.com/profile/08161652083031423415noreply@blogger.comtag:blogger.com,1999:blog-7366909960546184927.post-15094742636243283052013-07-07T11:31:34.369-07:002013-07-07T11:31:34.369-07:00Yes, renter's insurance is becoming pretty sta...Yes, renter's insurance is becoming pretty standard. I think it's because landlords want to protect themselves from renters who destroy property (or allow their pets to do it on their behalf). Lists of requirements like the one you received also are a way of gentrifying the apartment complex.<br /><br />Your auto insurance company might offer renter's insurance as a package deal; ours is actually affordable.<br /><br />Our current landlord didn't require insurance, but since we live in Tornado Alley City we deemed it wise to sign up. It also protects our stuff if the plumbing or wiring goes awry.<br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7366909960546184927.post-88850363313718654442013-07-07T10:14:35.473-07:002013-07-07T10:14:35.473-07:00We've had to have renters insurance before, an...We've had to have renters insurance before, and we were told to require it when we rented our place out on sabbatical. Last time we rented we had to get a cashier's check. We got one from our credit union (luckily we had money then). The first time we rented I had to borrow money from my mom for the deposit (which was the first thing we paid back with my first paycheck). Anonymousnoreply@blogger.com