Just realized my neighbor's budget tip backfired on me

My neighbor Betty told me last January to cancel my renters insurance to save $25 a month. She said nobody ever uses it and it's a waste. Well, my basement pipe burst in March and flooded my couch and TV. I lost about $1,200 worth of stuff because I had no coverage. Now I pay the $25 again and feel dumb for listening to her. Has anyone else taken bad advice from someone who seemed sure of themselves?

3 comments

3 Comments

paige33125d ago

The $25 thing gets you too. I literally just filed a claim after a tree branch went through my kitchen window during a storm. Cost me about $1,800 in damage and my deductible was way less than that. @angela587, I tried the bangs thing too except I used kitchen scissors and it looked way worse than a startled hedgehog. My advice is to call your insurance agent once a year and just ask them to shop around for a better rate for the same coverage. That way you keep protecting your stuff without overpaying.

jade51725d ago

Betty owes you twelve hundred bucks honestly. That's a rough lesson to learn, I'm sorry. I had a buddy who skipped car insurance for six months to save cash and then rear-ended someone at a stoplight. He ended up paying for years. Your landlord's probably not thrilled either if the water damage went past your unit. Hope you at least got a newer TV out of the replacement.

angela58725d ago

Followed my sister's advice to trim my own bangs to save on haircuts. Still look like a startled hedgehog four months later.