I don’t know what I was thinking.
I am getting older. I finished my undergraduate education with a graduation ceremony about years ago. Since graduating, I’ve moved from apartment to apartment, first with a $400 per month one-bedroom place near my college, then back to New Jersey, sharing rent with a variety of roommates. I’ve roomed with friends and strangers in a variety of locations, from suburban apartment complexes to an urban railroad apartment above a grocery store. I’ve dealt with absent roommates, compulsive roommates, scary roommates, and even a few roommates with whom I got along well.
Despite making apartment-living my life, in the past ten years, I have never owner renter’s insurance. For some reason, this is one of those things I’ve managed to delay by allowing the part of my personality that prefers procrastination to prosper. Homeowner’s insurance is required in almost all circumstances, but renter’s insurance usually isn’t. In fact, insurance has never been required in any of the eight locations I’ve lived over the past ten years.
There was a snow storm overnight resulting in almost a foot of the white stuff on the ground, surely wreaking havoc in the roads. The facility managers at the office building where I work decided to close the location for the day. My boss and I determined this morning that there was no need for me to work from home, so I used the day to take care of a few personal tasks. One aspect of this plan was to research renter’s insurance. It was much easier than I had anticipated, and cheap.
I decided to work with the same company with which I have automobile insurance, Liberty Mutual. I originally found them after a long search for the most economical policy through some assistance with AAA. It took only ten minutes on the company’s website to answer a few questions about my living situation and decide how much should be covered by the policy. I received a quote right away that was so low I kicked myself for not taking care of this sooner.
If you rent, there’s no reason not to have renter’s insurance. Now that my home and possessions are covered, I can feel even better about my financial choices. I’ll also feel less nervous when leaving the apartment for weeks at a time.
Updated February 6, 2012 and originally published March 2, 2009.