Renters Insurance: Top 6 Reasons to Get It

Many people skip purchasing renters insurance because it isn’t required and there aren’t any seemingly immediate consequences to not having it. But there are plenty of reasons why this type of insurance can come in handy. When someone else owns a property, they might carry insurance to cover costs in the case of damage to their property; their insurance doesn’t cover the cost of replacement to renters’ possessions, however. This means that if you are a renter, you might have material goods worth hundreds or even thousands of dollars that can be lost in an instant, with no way to cover the cost of damage.

Renters insurance can provide peace of mind that, in the event of an emergency or damage to property, financial costs are covered. Some common reasons people purchase a policy include:

Covers Replacement Costs of Possessions

One of the most obvious reasons to purchase a policy is to cover replacement costs of possessions if they are damaged or destroyed. Furniture, clothing, and the like can be lost to fires or natural disasters in an instant. Because people typically accumulate items slowly, it doesn’t seem like it would be that difficult to replace these items. If everything has to be replaced at once, however, the costs can add up to several thousand dollars.

Might Cover Temporary Living Expenses

Another popular reason to buy a policy is that it can temporarily take care of living expenses if an apartment is no longer usable because of a natural disaster, fire, or some other reason the policy covers. This makes being temporarily displaced easier to handle.

Covers Gaps in Other Types of Insurance

Sometimes there are things that you thought were covered under one type of insurance, but they’re really not. For instance, something might be stolen from your vehicle. Think your car insurance will cover it? It might not; many insurance policies have stringent guidelines for vehicular theft, many there are many cases where you might not be covered. Renters insurance could fill in the gaps in such policies.

Landlord Might Require It

There are some landlords who require their tenants to have insurance. Other times, it is the landlord’s insurance provider that insists that all tenants have it. This is to defer as much liability away from the landlord or landlord’s insurance company in the case of an accident, such as a fire.

Covers Items in Your Possession

What would happen if you rented something from a company or borrowed it from a friend, and then it was damaged? You might have to cover the cost out of pocket. Some renters insurance policies might be able to cover these instances, however.

It Is Versatile

One of the most popular reasons that people purchase a policy is because it can often be tailored to an individual renter’s specific needs. It’s natural to be afraid of spending money on something that no one wants to see him/herself ever needing, but several companies and insurance providers allow customers to pick and choose what works for them.


History Facts - The Nuremberg Trials

  1. The Nuremberg trials were held against prominent Nazi Germany leaders, who planned out and orchestrated the mass killings of WWII. Allied forces set these tribunals in accordance with the laws of war and international regulations.
  2. The Bavarian City of Nuremberg had been flattened during WWII, but its Palace of Justice remained operational, holding over a thousand detainees. Being the birthplace of the Third Reich, it was a symbolic place to hold the military tribunals.
  3. A panel of four judges presided over the Nuremberg Trials. These judges were representatives of the US, Great Britain, the USSR, and France. The event was the first-ever set of international trials to deal with war criminals.
  4. Being the first international hearings of their kind, the Nuremberg Trials served as a model for prosecuting the war crimes committed in Japan. The event was also the first to handle crimes against humanity. The other category it dealt with was "crimes against the peace.
  5. The Nuremberg Trials were posed by language barriers. To resolve the issue, IBM came up with a translation system. Simultaneous translations were fed through headsets to avoid confusion, and the proceedings flowed with remarkably few interruptions, given the newness of the technology.
  6. The word genocide comes from the word 'genos', a Greek word for race or tribe, plus the suffix 'cide', which means killings in Latin. Genocide was coined by Raphael Lemkin, who worked alongside the chief American prosecutor, Robert Jackson, at the international tribunal.

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