Paying for renter's insurance is worth every penny - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Paying for renter's insurance is worth every penny

Posted: Updated:

Could $10 a month save you in a disaster? Insurance companies are stressing: if you rent in the Tri-Cities, think about renter's insurance.

Tuesday morning an apartment complex in Kennewick was destroyed in a fire, leaving three families homeless. Just one of those three families had renter's insurance and they got it just ten days before the fire.

The other families won't get cash for their lost valuables; that's something most renters don't even know they can get. If your things get stolen or lost in a disaster, your landlord is not responsible.

Renter's plans can be cheap; sometimes only $100 a year for thousands of dollars of coverage. It may be difficult for some renters to invest in, but experts say it's worth every penny.

Gary Paulson with Mid-Columbia Insurance says, "We'll write between 50 and 60 policies a month here in the Tri-Cities and most people don't have it. We're not telling them they need to replace what they have...they've been living for years and nobody's talked to them about getting renters insurance."

All of the people who lost their home in the fire are staying in a hotel, and insurance can pay for that too.