3 Reasons You Need More Insurance Than You Think | Personal-finance

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2. Things magically disappear

It’s no coincidence that many of the items we value most have a tendency to disappear if not kept under close surveillance. As I mentioned in the intro, my bike was stolen a few months ago. It was taken right from my garage. I live in a safe area without much crime, and this is something you simply don’t wake up expecting.

Most renters’ insurance providers will offer the option to add bike coverage (as well as coverage for jewelry and other valuables), and I recommend making these small investments even if you believe the probability of theft is close to zero. There’s a good chance your valuables won’t just walk out the door, but what if they do? If premiums become too expensive, even having some minimal coverage will lessen the blow of misplacing your items or having them disappear as casualties of theft.

3. Peace of mind is priceless

As life becomes more complex in mid-adulthood, time becomes much more scarce and it’s increasingly important to know that your assets are protected. Most people don’t want to spend time arguing with an insurance company as to why the plan doesn’t cover their loss, and even more people don’t want to pay full cost to replace an item.

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