This month my girlfriend and I moved into a new apartment in Hawaii Kai. As you can imagine we were very excited to take the next step to move in with each other as well as to upgrade our living situation. It has been a goal of ours to eventually move to Hawaii Kai as we like the neighborhood, the location is convenient to practically everything (except town) and the apartment we are renting is much nicer (although more expensive) than our current living situations.
One of the requirements of moving into our new place was that we must get renters insurance. Although I've heard of renters insurance and have contemplated getting it it never seemed like much of a priority to me. Since we were forced to get it I began shopping around for renters insurance policies and was pretty surprised by what I found.
The terms of our lease agreement required that we have $300,000 dollars in personal liability coverage. This is to insure neighbors who may have damage caused to their units because of any accidents that we create such as a fire or water damage. The nice thing is it also covers our personal property so if we have damage to our unit due to a neighbor having an accident our damaged property will be replaced as well.
For all of this coverage the cost is only around $15 per month which you pay annually or bi-annually. Overall I think renters insurance is a great idea. Like I said I probably wouldn't have gotten it if we were not required to but once I figured out how much insurance coverage you get for about 50 cents per day I think it's a great idea. Even if I decide to move somewhere else I think renters insurance is something that I always plan on having as long as I rent.
