What's the deal with Rental Insurance?
April 25, 2007 8:20 AM Subscribe
PhillyFilter: Moving to a new apartment in a slightly questionable neighborhood. What do I need to know about, and how much would I expect to pay for renter's insurance?
posted by SansPoint to Work & Money (16 answers total) 7 users marked this as a favorite
I'm moving to my first apartment, a 4 bedroom, shared with two other people in North Philadelphia, right by the North Philadelphia station on the R8 (16th St. and Glenwood Ave.). The neighborhood could be better, but it's not bad at all, what with a nice new shopping center and supermarket nearby. Still, I'm worried that, as a college student, I might risk getting broken-in.
It's been suggested that I get renter's insurance, and it makes sense, but I'm a student. I don't know the details of how this stuff works. How much would I expect to spend per month? Should the policy cover all three of us? Can it be extended to a fourth person if we get one? How much should the policy cover, monetarily? We're all college students with all the associated high tech gizmos (computers, TV, iPods, game consoles, etc.). None of us has a car, however. Also, what company should I get this insurance with?
Thanks for your help! I can't wait to move in.