Should I get flood coverage with my renter's insurance?

Credit and mortgage advice Forums Home Insurance Should I get flood coverage with my renter's insurance?

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      Anonymous
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      I live in Forest Park, IL, and I rent a garden apartment that is only 3 feet below ground. In the years that this house has been rented out–and it is about 80 years old–the garden apartment has never been flooded. Well, that changed last July, when a huge storm hit Cook County, and we had gotten 7 inches of rain. As a result, all of my neighbors had gotten 2-3 feet of water in their basements, and my apartment had gotten up to eight inches. I lost a couch and a coffee table, as well as some books, and my landlord did not charge rent for a month so that I could get some new furniture. My apartment is back in shape, and so I decided to get renter’s insurance. There is an agency that provides flood coverage, but I will be charged an extra $ 200 for this. People in my town have told me that floods are rare, and my landlord stated that it is unlikely that this would ever happen again.

      If it were you, would you get the extra coverage, or would you just take a risk?



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