Saturday, January 9, 2010
Renters: get renters insurance!
After one in a series of house fires in Northampton, an insurance agent urges renters to buy a policy that could cost about $200/year. Fewer than half of renters get a policy, which is the only thing that would cover the loss of furniture, computers, etc. in their unit - the landlord's policy doesn't cover that. This is a huge issue! In many cases, people are renting because they can't afford to buy a condo or house. And moderate-income families are going to have an awfully hard time buying new living room furniture, electronics (toaster, microwave), clothing, etc., at the same time that they have to move while repairs are made to their unit.
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