Do you think if we have a bottom floor apartment we need renters insurance?

Question

Do you think if we have a bottom floor apartment we need renters insurance?

Answer 1

Yes you need it no matter where you are if you are renting, it will cover you if someone breaks in and steals things from your home as well as the personal property in your car. It will cover your things if the apartment complex burns down!! You should carry it no matter what. It only costs about $15 a month or less.

Answer 2

The answers you are getting are correct in that you should get renters insurance but the other answers are leaving out the most important part.............LIABILITY COVERAGE.

My company represents insurance companies in seeking reimbursement (the process is called subrogation) from uninsured people who cause damages, including apt renters. That is the real protection of a renters policy.

You would be surprised how many renters start fires with candles or while cooking. The liability coverage would cover you if you ever s***w up and damage the apt building or gouse you rent in.

Imagine starting a kitchen fire and it damages $15,000 of your own personal property, but it also causes $150,000 damages the building that you are legally liable for. Which do you think is more important to have coverage on?

Buy the renters insurance with at least $20,000 coverage for your personal property but AT LEAST $300,000 of liability coverage to protect you if you damage the building.

Answer 3

Not only do you need renter's insurance to cover the landlord, but what happens if there's a flood/fire and you have to be relocated?  It's not your landlord's job to pay your rent if the building is not inhabitiable.  Also, I learned the hard way, that the landlord's insurance does not cover my posessions, so if there is a claim from their building, and it damages my stuff, I am not covered for my losses.

You would be if you had renters insurance.

Answer 4

You need it regardless of what floor you're on.

Answer 5

Short answer: Yes.

Long answer: Not to freak you out, but ground floor and basement apartments are the ones most usually broken into. They are also the most susceptible to flooding.

For these two reasons alone you should consider investing in renters insurance. It's not all that expensive, and the peace of mind you will have will be worth it.

Answer 6

I think you should have it no matter what, burglary,flood or fire.

Answer 7

Yes.It covers what you are thinking and burglary.On the bottom you are prone to this and floods.

Answer 8

No matter what floor you live on .. you should always have renters insurance.

Answer 9

ok i agree you need the coverage no matter what floor you live on, but everyone keeps mentioning in case of flood...IT DOES NOT COVER THAT!!!  you would need a seperate flood policy for that.  so yes get renters and if you want to be completely safe, get a flood policy also.

Answer 10

You should get renters insurance no matter what floor you are on.  Not only for water damage, but for fire, theft, shoddy plumbing or wiring by the management, etc.  

Renter's insurance will protect your belongings so that if there is a fire you can at least recoup some of what you lost.

Do you really want to start over from scratch and try to replace things?  

Think about it.