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Ask an Expert – What Insurance Do I Need?

Answered By

Tina Hurst – State Farm Agent

Question

I'm single and an entrepreneur living on a shoe-string budget. I don’t have a car but I do rent an apartment and have renters insurance.

So, as far as insurance, I'm covered – right?

Answer

You go girl! There are a lot of people out there renting without any insurance at all, so you did the right thing. All of your “stuff” is covered -- your clothes, furniture, electronics -- everything that you own is covered by a renters insurance policy. And it's covered anywhere in the world; whether you're on vacation or it’s in your car (after your deductible of course).

You're also covered for liability through your renters insurance policy. Let’s say that someone slipped and fell inside your apartment and was seriously injured – your renters insurance would first pay some of their medical bills and if you are found liable, there’s additional coverage for that too.

Sitting down with an insurance professional and deciding which is most critical, given your budget, would be important.

Next, you didn’t mention if you have life, health, and disability insurance. All three are critical, especially given the fact that at you’re self-employed. Sitting down with an insurance professional and deciding which is most critical, given your budget, would be important.

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