You’re renting an apartment. You’ve been advised and maybe even required to carry renter’s insurance. You don’t have a lot of possessions and don’t really see the point, but there are plenty of great reasons why renter’s insurance is a good idea.
You’re not alone in this building. There are plenty of other tenants. Even if there’s only one other apartment in your particular building, you’re exposing yourself and your possessions to whatever risk is going on next door, upstairs, or downstairs from you.
What if they leave something on the stove? What if they don’t have a clue what they’re doing and something catches fire?
The fire department may arrive in time to put out the flames, but there could be a significant amount of smoke damage. You could lose everything due to that fire.
It’s not just fire that you have to worry about, but break-ins, busted plumbing pipes, and so much more. Take a look around you at whatever possessions you do have.
Maybe you have a basic couch, bed, a few dressers, a desk, your computer, tablet, and some other items. What if tomorrow morning you woke up and that was all destroyed?
What would you do?
That’s why it’s a good idea to make sure you have at least minimal renter’s insurance coverage. You don’t know what’s going to happen tomorrow. You may be safe and assume that since the building you live in is relatively new there’s little risk of something bad happening.
Maybe there is little risk, but any risk could be devastating. Is it worth taking that chance?