Alice is trying to save money, so she decides she'll only buy renters insurance if and when something bad happens at her apartment. Why won't her strategy work?
Renters insurance only provides coverage for dorms, not apartments.
Insurance companies will only cover damages to her apartment if she pays triple the premium for the first month.
Alice will only be able to recover costs of furniture if she buys renters insurance after something bad happens at her apartment.
Insurance companies will only cover losses suffered while the policy is already in place.
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Home » Business » Alice is trying to save money, so she decides she'll only buy renters insurance if and when something bad happens at her apartment. Why won't her strategy work? Renters insurance only provides coverage for dorms, not apartments.