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Can't believe everyone still discussing the ---gosh-darn--- insurance. If you read the article linked to WAY UP in the beginning of this thread, the guy SAYS he tried several times to get insurance but was turned down. Insurance companies do whatever is in their favor. That means turning down or charging an arm and leg for what they deem high risk or unclassifiable categories.
I run an online business and just "liability" insurance runs $8000 per year, just to cover the risk of what if some kid gets harassed through our site and the parents sue.
The guy didnt own the place, other relatives did. Let me ask any of you, if you're offered a space like that to live, would you turn it down (considering you can't afford your own house)? I sure as hell wouldn't turn it down. It was probably a real bargain too since its owned by relatives. But seeing as how I wouldn't own the place, I'd just be renting, I wouldn't be spending 5 figures on upgrading it. (When's the last time you upgraded an apartment you didn't own??)
I suggest the critics who are also renters go look at their lease agreements. Chances are it says you need to have apt content insurance, but I bet you don't. Most people don't, and most landlords dont enforce the clause until something happens.
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