3/25/2010

Renewed Tenants Insurance Today

Today Jordan and I renewed our tenants insurance!

I increased our contents coverage from $15,000 to $25,000 - and the cost only went up by $8 a year! The total was $152.  We decided it was worth it to increase it because, as of late, we've been purchasing more valuable items - such as our new couch and our new set of pots and pans.

On top of that, I had a great conversation with my mom and her sister this past weekend - and I realized that it would take a lot of $$ up front to replace everything that we have.  We have a house full of things - two bedrooms worth of furniture, camping gear, clothes etc.  Sure, a lot of that stuff we got on sale - but when it comes to insurance they coverage what you replace (at least the kind of insurance I have).  So - yes I got my kitchen table for $100 - but to replace it - maybe I'll have to spend $500, you  never know until you're in that place.

I love the feeling of knowing that if the worse happens (flood, fire, theft, my horse freaks out....whatever) - we're covered.

9 comments:

  1. Isn't it amazing how quickly stuff adds up? I just got the bill for my Renter's Insurance and I'm thinking of upping my coverage limits too.

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  2. I'm guessing the recent news coverage of the condo fire in Calgary got you thinking about renter's insurance??

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  3. Updating things like that is a fantastic way to remind yourself of the cost of things.

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  4. Well worth the extra $8, I say.

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  5. Well worth the extra $8, I say.

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  6. @ me in millions - it's a good idea to evaluate every now again that's for sure.

    @ Anonymous - nope, hadn't heard of that. I've had tenents/renter's insurance for a number of years. It's renewal was due today :)

    @ Rainy - me too!

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  7. Gosh, that is dirt cheap for 25k cover!

    I only have current value replacement cover, so if everything we had was wiped out it would probably not cover everything. But upgrading to full replacement insurance is a big jump in price.

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  8. I like knowing that our belongings are covered in case someone in our household is stupid or a tragedy happens :)

    Renters insurance is a brilliant thing and something I didnt live with for years.. then again Bachelors dont usually have stuff in their younger years :)

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  9. I don't know if we have this type of insurance in the US. I have homeowners' which covers our renters and us but I should look into this. A bad tenant could lead to serious damages.

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