For the Wired, Renter's Insurance Is Worth a Look
If you had purchased a renters insurance policy, your re-entry into the wired world would be relatively painless and cheap. But without insurance coverage, the cost of replacing your electronic possessions is yours alone to pay.
Depending on where you live and your level of coverage, a renters insurance policy probably costs between $150 and $300 a year and may come with a deductible. Obtaining coverage for unusually expensive items will cost more than purchasing a basic policy but may be worth the money. And a policy that completely covers the expense of replacing your damaged belongings will cost more than insurance that reimburses you for just the depreciated value of your possessions.
In addition to protecting your electronic devices from power surges, a renters insurance policy typically covers losses from fire, theft, and other events that the industry calls "perils." Although renters insurance often covers losses caused by water damage from burst pipes in the home, flood protection is usually exemptedor provided at an extra cost.
What happens if your entertainment center collapses, depositing the television onto a visitors foot and breaking it? Relaxyour renters insurance policy most likely provides liability protection that will cover your friends emergency-department visit and up to $100,000 for any lawsuit arising from the accident.
To learn more about renters insurance, contact an insurance agent. If you have a car, start with the company that provides your automobile insurance; you may be eligible for a discount if you obtain renters insurance from a company with which you already do business.