Ran into my old landlord at a coffee shop and it changed how I think about renters insurance

I was sitting at a local spot in Portland last Tuesday and this guy I used to rent from sat down next to me. We got to talking and he told me about a tenant whose unit got flooded from a busted pipe above them. The tenant didn't have renters insurance and lost about $8,000 worth of stuff. Landlord's insurance only covered the building. I used to think renters insurance was just a $15 a month scam they push at move-in. Now I see it differently. That one story convinced me to finally sign up. Anyone else have a similar wake up call about something you thought was pointless?

2 comments

2 Comments

ivan_mason7h ago

Honestly, check if your policy covers replacement cost not just actual value cause that makes a huge difference.

wells.karen18h ago

Wait, $8,000? That's brutal. I always figured renters insurance was just a way for them to grab an extra $15 a month for nothing. But losing eight grand on stuff you already paid for? That's the kind of nightmare that keeps you up at night. Your landlord probably felt bad having to tell that tenant tough luck too. I think I might finally get off my ass and look into it after that story.