Don’t Forget Renters Insurance for Your First Apartment
When you leave home it’s more than likely that your first home will be rented, and most probable that it will be a shared apartment. It’s how most of us start out when we first set up a place, because it takes time to be in a position to buy property, and you also need to be settled enough to be ready to put down roots in a particular place before that happens. However, you need to set things up properly, which means getting organized and having renters’ insurance to protect your valuables.
Make a checklist to work through with your housemate:
• What furniture do you both have already, and how will you get what you need to make the place comfortable and functional?
• Work out how you’ll pay the rent and bills. Do you split them each time, or set up a common fund to cover everything.
• Discuss how you want to manage food and other groceries – what you’ll share and what is separate, how you’ll shop, and whether you’ll share some or all meals.
• Housework has to be managed as well – no Mom to clean up after you anymore! You should work out a schedule so you both contribute.
Call your local California insurance agency to get a quote for renters’ insurance. Don’t forget to have your housemate get a policy too – you each need to have your own coverage. Paying the premiums might seem like an extra monthly expense you could do without, but consider how much it would cost to replace everything you own – would you have enough money to cover it?