Is renters insurance worth it? 9 times you might need it

Is renters insurance worth it?
You’ve got plenty of monthly expenses already. Rent. Groceries. Netflix. Why would you want to pay for renters insurance? If that’s how you’re thinking about it, you’re not alone: Most millennials forgo renters insurance as a monthly expense.

And we get it. It’s easy to ask yourself, “Is renters insurance worth it?” when you’ve never been in a situation where you’ve needed it. But what you might not know is that renters insurance covers you in situations you wouldn’t expect. Not to mention, an average monthly plan could cost about as much as you’d spend on coffee a month—just one more reason to sign up. So when do you need renters insurance? Here are nine situations that help prove renters insurance coverage is worth it.

1. You crack your phone screen.

It’s a gorgeous day at a beer garden. In the midst of a heated game of Heads Up, your phone flies out of your BFF’s hands and onto the gravel, cracking your screen and potentially shattering your friendship. Fortunately, if you’ve opted into Jetty’s Portable Electronics Power-Up, one of those is likely part of your renters insurance coverage. (It’s the phone screen. Sorry, BFF!) So the next time you’re wondering, “Is renters insurance worth it?” just look at your brand new phone screen as the answer.

2. A tree falls and breaks your patio furniture.

We know how satisfying that outdoor dining set in your backyard is—finally, a comfortable place for everyone to gather. We also know how gut-wrenching it can be to wake up and find your outdoor oasis crushed by your neighbor’s white ash tree…woof. Good news—in times like these, when you need renters insurance coverage the most—we’d help you replace the table and get that backyard back in working order as soon as possible.

3. You throw a party and your guest breaks her arm.

We all have that friend. That delightful, funny, wild, and clumsy friend who somehow accidentally managed to break her arm in your place during your housewarming party. Yep, renters insurance coverage can even help cover Klutzy Kristy’s medical bill when she discovered that whole don’t-roller-skate-indoors thing the hard way.

4. Your place gets bedbugs.

Just the word “bedbugs” alone strikes fear into the hearts of both city and country dwellers. But fear not: With Jetty’s Bedbugs Coverage, you’ll get $300 toward the removal of those pests so you can get on with your life.

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5. Someone steals your bike.

Even if you’re not at home, a stolen bike is usually covered by renters insurance. Let’s say you lock up your bike outside your friend’s place for the evening, and when it’s time to go, it’s nowhere to be found. Defeat! You call an Uber and reluctantly get in, while looking around to make sure it’s definitely, really, 100% gone for good. Bright side: Renters insurance typically covers the cost of replacing your swiped bike.

6. You have to leave your apartment… NOW!

The upstairs neighbors left the faucet on. A pipe burst in the floor above yours. Maybe there was a fire somewhere else in the building. There are situations in life when you may be forced to find a new place to stay right away. It’s these times when you need renters insurance coverage. Plans typically offer financial assistance for a hotel or housing (within reason) if your place suddenly becomes uninhabitable due to a covered incident—it’s called loss of use renters insurance coverage.

7. Your laptop gets stolen from your car.

We definitely don’t recommend leaving valuables in your car, but when you’re trying to make kickboxing on time, it’s easy to forget your laptop in the backseat. If a thief breaks into your locked car and snatches the laptop, we’ve got you covered. (Just make sure to file a police report and take lots of pictures!) So do you really need renters insurance that covers items outside the home? Clearly, that answer is yes.

8. You lose your engagement ring on your honeymoon.

Did your wedding ring go missing on vacation? In the case of Jetty Renters Insurance (with the Valuables Protection Power-Up), if you lose your jewelry—even while out of the country—you’re likely covered. When the monthly cost of your plan is about the price of your favorite latte, the answer to “Is renters insurance worth it?” is a definitive yes in the case of a lost engagement ring.

9. The apartment above yours floods…and ruins everything in your closet.

You don’t have to know your neighbors well to be affected by their actions. When Ronald a floor up runs the bath and then falls asleep, cascading water into your (cherished) walk-in closet, this is when you need renters insurance. We’ll typically help pay for you to have your clothes professionally cleaned and replace anything that can’t be salvaged.

Again, it’s easy to ask the question, “Is renters insurance worth it?” if you’ve never had to use it before. That’s why so many renters find themselves wondering if they should have coverage. But just because you haven’t needed a policy in the past doesn’t mean you never will—and it’s always better to be safe than sorry.