Excalibur Insurance
What is Tenant Insurance?

What in Tarnation Is Tenant Insurance, and Why Should I Care?

March 22, 2017

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So you’re ready to vacate your dorm, new diploma in-hand, venturing off to start your career. But first, a search for the most fantastical apartment you can get – with basically no money.

Let’s face it, your degree (especially frosh year) was a tad pricey. You must do this on the
el-cheapo until you start making bank. But, you start to notice every landlord is mentioning something about needing tenant insurance. “What’s the heck is that?” you wonder and “why do I need it?”

“I don’t own ANYTHING of value, a 20-year-old couch from my Aunt, a Laptop that was a year old BEFORE I started university, and clothes of the “thrift store” variety. Why would I spend money insuring this kinda stuff?”

Well in the case of fire or flooding, tenant insurance covers your non-valuable stuff at replacement value, not current value. Without tenant insurance, your bargain-bin Edwin jeans will still only cost you $2.75, but that 20-year-old couch will now cost hundreds, and that laptop (R.I.P gigs of home videos) will set you back a couple of G’s.

Now let’s talk about what happens when your attempt at impressing a first date with a candlelit fine dining experience ends up burning the place down. You better believe the other tenants and probably your landlord ain’t going to be happy. And guess who’s liable?  The inevitable lawsuit payout comes out of the pocket of those Edwin’s. Did somebody say garnished wages?  Ouch.

OK, you’re starting to see this is making sense, but are panicked thinking, “I CAN’T AFFORD IT!”

Unlike what you pay for Car Insurance, or your parents for their House Insurance; Tenant Insurance can cost as little as $5 per week…let that sink in… You know the Starbucks latte in your hand right now? Yeah…that Grande Double Something Skinny Mocha Latte cost more than that.

Interested in getting a Tenant’s Insurance quote now? Well, with our online quoting option you can now get Tenant’s Insurance in just 5 MINUTES! SWEET!

Jeff Roy - Author or Post