Lately, I’ve seen several online funds set up for families who have lost everything in apartment fires.
With apparently no renter’s insurance, these families are in a terrible place with limited, or no funds to rebuild their lives.
My heart hurts for these families, so I try to help when I can.
However, this is a perfect opportunity to tell all renters, GET INSURANCE!
When I was a renter, my auto insurance agent suggested renter’s insurance, but I was leary.
At that time, I worked for a very large life insurance company. I tracked down a trusted co-worker and asked him if renter’s insurance was worth having.
He said, “As a general rule, if you cannot afford to replace it, insure it.”
Wow. That was some of the best advice I ever received.
As a recent college graduate with no savings, student loan payments, and so little money the only bed I could afford was a $200 futon, there was no way I could replace anything lost in a fire or other calamity involving my apartment.
I immediately called my insurance agent and wrote the $125 check for the coverage.
The $125 covered me for a year – A YEAR! This insurance covered $25,000 of my personal belongings, expenses to live in a hotel for up to 30 days while I found a new place to live and many other expenses.
My last renter’s insurance policy was over 20 years ago, so I’m sure it may cost more these days, but even if it’s $250 per year, isn’t that worth it?
I think it is.
The American Red Cross helps people if there is a fire, or other disaster, but they can only do so much.
The landlord’s insurance only covers the building, not your stuff.
If you rent, get insurance. That way, you won’t need to rely on a gofundme account and the charity of others to get back on your feet.
1 Timothy 5:8 (ESV)
8 But if anyone does not provide for his relatives, and especially for members of his household, he has denied the faith and is worse than an unbeliever.
Hebrews 13:5 (ESV)
5 Keep your life free from love of money, and be content with what you have, for he has said, “I will never leave you nor forsake you.”
Do you rent? Do you have insurance?
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