That time my renters insurance saved me $2,800 after a pipe burst in Chicago

I was living in a second floor apartment in Lincoln Park back in January. Woke up to water dripping through the ceiling from the unit above. The neighbor's pipe had frozen and burst at 3 AM. Landlord said I was on my own for replacing my soaked couch and ruined TV. I almost didn't file a claim because I thought renters insurance was a waste of $15 a month. But I called my agent anyway and they cut me a check for $2,800 in under two weeks. Covers the couch, the TV, and some clothes that got moldy. Has anyone else had a surprise moment where insurance actually paid off big?

2 comments

2 Comments

diana_moore7512d ago

Always thought renters insurance was a scam but this totally changed my mind.

jake_chen12d ago

That $2,800 check must have felt like a lifeline at 3 AM with water everywhere. I had a similar thing happen with my own place a few years back, and @diana_moore75, I felt the same way before I actually needed it. I was lucky my agent talked me into a basic policy, and it covered a busted water heater that flooded my whole kitchen. It was about $1,500 total, and I remember thinking how stupid I was for almost skipping it. Now I tell everyone to at least get a cheap policy because it really does pay off when you least expect it.