{"id":1767,"date":"2012-02-07T15:54:22","date_gmt":"2012-02-07T20:54:22","guid":{"rendered":"http:\/\/www.noyeshallallen.com\/?p=1767"},"modified":"2017-11-09T08:52:01","modified_gmt":"2017-11-09T14:52:01","slug":"avoiding-used-underwear-red-cross-socks-for-10-a-month","status":"publish","type":"post","link":"https:\/\/www.noyeshallallen.com\/blog\/avoiding-used-underwear-red-cross-socks-for-10-a-month\/","title":{"rendered":"Avoiding Used Underwear & Red Cross Socks for $10 a Month"},"content":{"rendered":"

You rent a house, condo or apartment. Maybe you’ve been meaning to buy renters’ insurance<\/a>. \u00a0Or maybe, you’ve been thinking something like this:<\/p>\n

My Stuff Isn’t Worth Much<\/h3>\n

You think you have minimal furniture, electronics and clothes. But, you acquired it a little at a time; maybe you even bought some of it used. After a fire, you’re going to have to replace it all at once, and in a hurry. Even a 1-bedroom apartment easily holds $10,000 of stuff – more if you have a decent computer or a hobby like photography, mountain biking or music. That’s more than most of us have in the bank.<\/p>\n

When you get Maine property insurance<\/a> buy replacement cost coverage; it’s always worth it. Otherwise, the insurance company pays you “actual cash value”: the difference between replacement cost and depreciated value.<\/p>\n

Replacement cost = \u00a0cost of new underwear in the store.<\/strong><\/span><\/p>\n

Depreciated Value = what I’d pay for the stuff in your underwear drawer (not much).<\/strong><\/span><\/p>\n

My Landlord’s Policy Covers Me<\/h3>\n

Your landlord’s insurance (IF they have any) covers them, and them alone. Whether the plumbing leaks on your sofa, a fire burns up your apartment, someone steals your computer, or someone slips on an ice cube in your kitchen, you have no insurance unless you buy it yourself.<\/strong><\/p>\n

I Can’t Afford It<\/strong><\/h3>\n

Renters’ insurance is cheap: often less than $10.00 a month. That’s a few cups of coffee. Know what you really<\/em> can’t afford?<\/p>\n