Any of you have homeowner's/renter's insurance?

Discussion in 'General Discussion' started by Sixshot, Sep 17, 2008.

  1. Sixshot

    Sixshot Jeff Goldbluman Group

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    Just wondered if any of you had homeowner's insurance or renter's insurance. My parents pay about 500 bucks a year for their homeowner's insurance.

    I ask because I am thinking of moving in with my buddy into an apartment. I have three guitars with MSRPs each of 2000-4000 dollars, along with my large transformer collection, which I am not sure of exactly, but if I had to estimate I would say is worth maybe around 5,000 dollars at least? Plus I have numerous electronics, two computers, PS3, 360, Wii, all with way too many games. Prime break in suspect here.

    What do you all pay for homeowner's/renter's insurance? Thanks. I like to be an informed buyer.
     
  2. llamatron

    llamatron Shut up, Nigel. TFW2005 Supporter

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    I have no idea what it's like in the USA/Canada but I have my home insured against fire / destruction etc and my contents insured against theft. Costs about $60 per month. I never bothered with insurance until I owned a house though.
     
  3. Moonscream

    Moonscream YES, We EXIST!

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    It depends on things like where you live, how long you've been with the insurance company, etc, etc. You need to call companies and ask.

    And its dumbass to NOT get it.

    --Moony
     
  4. Caterwaul

    Caterwaul Busou Shinki Loremaster

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    Where I live, it's illegal to NOT have renter's insurance if you're renting an apartment.
    It's illegal to not have car insurance if you own a vehicle too.
     
  5. Joe Moore

    Joe Moore Is Not Jim... Administrator

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    In Philadelphia, Homeowners Insurance is required for the amount your house was appraised for.
     
  6. nkelsch

    nkelsch Do you know this Icon? TFW2005 Supporter

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    You can't buy a home and sign the papers without proof of insurance. Most mortgage companies require it.

    Renters insurance you should also have. I had friends who's college house burned down... No renters insurance. They lost everything. You never realize how much it costs to replace basic stuff like clothes and such. Sure losing a 2000$ guitar is hard, imagine if you had to replace 100% of your clothes... that is easily 2000$ I suspect.
     
  7. CripNite

    CripNite That Whack Canuck Dude

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    My girlfriend and I have renter's insurance... we up the amount it's for a little bit every year as we buy more things (IE last year we bought a new computer, this year, a PS3, more movies, hopefully a new TV). It's about $55 a month, which we split. It's good piece of mind as we were both robbed growing up and like our "nice things". Unfortunately, a good portion of my comic and transformers collections are at my mom's place, and she's got nothing. Fortunately, most robbers don't look at toys and comics to steal.
     
  8. seeker311

    seeker311 The Collector

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    Yes and definitely worth it.
     
  9. ams

    ams Generation All Veteran

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    You can ask the company carrying your homeowner's insurance for a rider for just about anything. I have my wife's jewelry, my CD collection, several dozen vintage guitars, and a significant part of my TF collection covered. It's been a few years since I've looked at mine, but a conversation with an insurance rep and a detailed list with pictures and values should get you started.

    As I get into my mid 30's with a growing family, I've been doing a lot more with both property and life insurance, and would recommend others look into it as well. Knowing that we're taken care of in the event of a catastrophic loss of our home, or that the wife and kids are set for life if something should ever happen to me is very reassuring.
     
  10. Drake

    Drake Smooth Is Smooth Baby

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    You almost need to sell 2/3 of your blood and organs to pay for insurance in Florida.
     
  11. Grimlock_13

    Grimlock_13 Reformed Geewunner

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    This

    And this.

    Even if it wasn't required, I'd have still gotten it with all my electronics, my Transformers and even more music gear. I've spent WAY too much onthat stuff not to cover my ass. Whatever I spent on my 1000+ Transformer collection, I'd say double or triple that and it's what I've paid for my music gear. That's really depressing to think about lol...

    I can't remember how much I pay, it's included in my mortage.
     
  12. Smasher

    Smasher HUNKY BEATS

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    I can't carry a mortgage without it.

    I pay about $1600\year for it, but unless you live in my area, that is no frame of reference.
    A similar valued policy could cost twice as much in another area.
    It's all about the zip code, baby.
     
  13. Scantron

    Scantron Well-Known Member

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    I have renter's insurance for the stuff in my apartment and have had renter's insurance of some kind since I started undergraduate (near the end of graduate school now). I pay ~$200 a year for my policy, as I don't have a lot of expensive items (major electronics, jewelry, etc). Nothing's happened yet that I've ever actually needed to use my policy, but the expense is definitely worth the peace of mind.
     
  14. drippy

    drippy is a freethinker.

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    That sounds extremely high. My understanding is that the bulk of homeowner's insurance premiums are based on the estimated cost to replace the building/improvements. The value of the land isn't taken into account.

    I'm paying $750 a year to State Farm Insurance for $375,000 in coverage with a $1,000 deductible. In my area, generally speaking, the land is much more valuable than the building/improvements. Minimum 60%/40% land to building.

    In fact, for example, when we're allocating the purchase price of a rental property to land and building, generally we're using 70%/30% for anything local. And by local, I mean most places in the S.F. Bay Area.

    What's a typical sale price right now of a single family residence in your zip code? You should be able to get that info at Zillow.
     
  15. jourdo

    jourdo TFW2005 Supporter

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    This pretty much sums it up. You would be stupid NOT to get insurance. I know when I was in school we had renters insurance, with additional coverage for some specific items. It wasn't all that bad cost wise, and well worth the peace of mind on the off chance something happened.

    Homeowners insurance is another no brainer, cost can vary as above. Phone around and get a few quote. If you have car/life/whatever other insurance, ask about a multi-policy discount as most companies will give you a deal if all of your insurance is through them.
     
  16. Voiceroy

    Voiceroy Trans-fo-mahs!

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    When my wife and I had an apartment, we got renters' insurance for $17 a month in a package deal since we already had two cars insured with the same company (State Farm). I can't remember if we had a $500 or $750 deductible, and coverage was around $10K (we didn't own much then).

    Two years later, we bought a house, changed insurance companies (now with Travelers), and now have another package deal that includes both cars and the house for around $130 a month, I believe. But at the moment I've forgotten what the deductible is and how much total coverage we have though.
     
  17. Chaos Muffin

    Chaos Muffin Misadventure Veteran

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  18. pscoop

    pscoop Dead inside

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    We got it last year since I too have a few nice guitars, and electronics. We got higher coverage for my wife's jewelery too. I think we pay about $50 a month for our renter's insurance.
     
  19. Sixshot

    Sixshot Jeff Goldbluman Group

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    Thanks everyone for the replies. Talked to the smoking hot apartment girl lady, whewy. She says it's pretty cheap as she lives in the apartments, and the area is relatively crime free.

    Pscoop we need to meet up and jam and geek over transformers. Come on, it'll be fun. What guitars are you pimping? I've got three EB Music Man Petrucci guitars. Check 'em out. I love them so.
    [​IMG]
     
  20. Chaos Muffin

    Chaos Muffin Misadventure Veteran

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    speaking of guitars, just bought a Digitech RP200 foot pedal/processor and a little tech21 amp for the crib.


    Good times
     

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