Importance of Renters Insurance

This post in not sponsored.

Do not under estimate the power of renters insurance. Make sure your family’s home is covered no matter the setting-even if you are renting a room.

I will cover two important reasons why I am passionate about having this coverage for your family and your home.

One of the biggest complaints I hear regarding base housing is how they always end up “ripping you off!”. The complaints continue on to “they charge an arm and a leg once you leave your home!”. “Base housing should never do this.”.

I have heard too many financial horror stories.

Base housing: I can tell you that these charges happen to everyone no matter where you live. The institution needs to charge for damages, wear and tear, and upgrades. Even if you kept the place in mint condition, there will be a charge. This is why you need renters insurance. Do not underestimate the power of renters insurance.

Do not glorify base housing. They do not necessarily pay for everything. A reminder, base housing is through a third party. For example, base housing on Camp Pendleton consists of both Lincoln and Hunt Housing.

If you are living in base housing, opting out of renters insurance is the worst decision you could make for financial future. As far as renter’s insurance goes, it is no different than living in an ordinary civilian apartment complex. They legally can, and will charge you for anything that they want. Is this unfair? Maybe. However the point remains equal. You must pay your dues. This is something that they do not tell you, nor do they put it on the pamphlet of things to get on base housing. It is no wonder why many people opt out and end up in debt once they move.

All of these financial horror stories can be prevented by renters insurance.

Costs: It is very affordable.

All costs, or nearly all costs, will be paid for if you opt in for renters insurance. The amount paid amount of pocket is according to the plan you select.

As a military family, the best decision my family has made is obtaining USAA products-including renters insurance.

My family opted for the highest coverage with USAA, which originally totaled to $15.00 per month (or you can pay for the year in full). Before switching to the highest amount ($15 per month), we had the standard which was about 1-2 dollars less. The wonderful thing about USAA is, they give you a discount for every year that you are with them. They also consider a discount if you have other products with them, and if you or someone on your plan is a student.

Our renter’s insurance gets reduced 1-2 dollars per year.

Selecting a plan: When selecting the plan that is right for you (I always recommend the highest)

Consider the area of the country you live in.

What elements are you exposed to?

Here in Southern CA, we have a high susceptibility to wildfires and earthquakes of various magnitudes.

Are you in the midwest? You have tornadoes and extreme weather conditions.

Are you in the South? You are susceptible to hurricane season.

Natural Disasters are always unpredictable and there is no way of stopping them. There is, however, a way to protect your family given the right resources and implementing a safety plan.

A big part of the safety plan is buying renters insurance.

My personal story and how renters insurance saved us thousands with USAA.

We were caught in the midst of the CA, Lilac Fire. It was absolutely terrifying. It first started about 35 miles away from us, and within an hour it rapidly spread towards our home us. I got a call at work saying emergency shutdown of all schools and daycares in my child’s district and to come get the children immediately. I signed out of work quickly and explained to my boss as I was shaking and my voice my rattling. I ran out of work and drove as compliantly as I could for driving on case in extreme conditions. As I got closer to the school, i could see that sky was red. There was debris everywhere in the streets and flying throughout the air. Some cars were driving 90 mph on base while some where going 15 mph to weave around fallen trees in a 35 mph zone. Cars were driving on the wrong side of the road to pass slow cars.

Everyone was in a panic, including myself.

I got my daughter. I attempted to get a hold of my husband, but he was on a field operation. No luck.

We went to get gasoline and a case of water. The line went into the street. The traffic heading East was jammed and car accidents were everywhere.

Finally we came home to clothes but it was too hard to breathe. I scooped up random clothes for everyone, my bucket or records, and canned food. In a matter of minutes and we left, assuming that our place would soon be burned to the ground.

The fire was now coming towards our house in two ways since the wind spread the embers.

I began driving towards the coast.

We could finally breathe, but we smelled of lingering smoke.

We got to a hotel and settled down. Next we contacted USAA. Not only were they sympathetic during this chaotic time, but they took care of everything.

They made things convenient and easy to understand.

After we got estimates on the hotel, food, and damages lost, USAA initiated a direct deposit into our account. We did not lose a dime.

After everything settled and the evacuation cleared, we returned home.

Upon coming home, nothing was burned down- just a lot of lingering smoke in the air, debris, and rotted food.  

We were very lucky.

Many think, “it will never happen to me”, but it just might. In the past 4 years I was in 2 fires with my daughter and I never thought we would have to experience something like that.

The best thing you can do is prepare.

Prepare: Prepare your family for a safety plan.

Think ahead and prepare for your financial well being. Do not get caught losing money during a natural disaster or upon moving out of your home when it could be prevented by obtaining renters insurance.