It just occurred to me that I’d be pretty screwed if my stuff decided to get up and leave. In particular, my computer and video equipment would be fairly expensive to replace.
So can anybody recommend a good company for renter’s insurance? To me, “good” mostly means I can pay online, or have it automatically deducted from my checking account. A good cost/coverage ratio is appreciated, too.
Many policies also contain sub-limits for certain items. I’m especially thinking of your camera & video equipment. Discuss this with your broker, and they can advise you if you need to schedule them on your policy.
Renter’s insurance in quite cheap, at usually <$300/year for $30,000 in coverage. If the matter of $20-30 is not significant to you, then pick an insurer you already work with for a matter of convenience. You might even get a multi-line discount with is even more savings.
My girlfriend and I moved in together into an old apartment building in Brooklyn and thought we should get renters insurance. We put the word out on Facebook and asked around and decided to go with State Farm.
The policy we got was $180 per year, which was about what most of them were.
I am a musician and I have a small music production room. Last week there was an issue with rain water build up on the roof and my girlfriend woke me up really upset. Water had filled up the ceiling of my music studio during the night and then burst through making a hole and blowing the light fixture out of the ceiling shattering it along with lots of nasty dirty water, debris and plaster all over my studio, my computer, instruments and music equipment was all messed up. The only comfort I had was as I went through all my destroyed stuff was that it was covered by my renters insurance. After a long time on the phone, State Farm said it was not covered. They said that whoever fixed the roof improperly was liable and I would have to go after them.
Like a good neighbor State Farm was there. I am in this weird state of shock and disbelief.
That’s the right answer, and I think the claim handler interpreted the flood exclusion wrong. Contrary to reason “Flood” does not just mean, “The existing nearby body of water got all crazy and damaged your stuff.” I can totally see not wanting to cover someone’s stuff when they build right next to a river–a floodplain is just a dumb place to put your house. But if you do build there, you (should) know to buy a FEMA flood insurance policy. Unfortunately, the real definition of “Flood” is water that is on the ground that damages your stuff. An example is: rain blowing through an open window = covered, rain flowing along the ground into a basement window = flood, not covered. This is a real bitch sometimes, especially when (as happened recently in Colorado Springs) you live on a hillside where there is zero chance of a flood and a wildfire burns off all the ground cover. Rains come, flash flood happens and your house washed away. You can try saying the proximate cause was the fire that removed the ground cover that allowed the flash flood, but good luck with that.
That said, rain damage caused by leaking roofs is covered all the time. Not only to structures, but interior contents as well. That denial is certainly curious.
OP: Go with whoever insures your car. Most places offer a multi-line discount if they get to write both.