This post is part of a series on Dave Ramsey’s Financial Peace University (FPU). The following is my impression of small pieces of the class. For more, I highly recommend taking the class for yourself.
Insurance is the one thing you buy and hope to never need. When (not if) you do need it, you are certainly glad you have it. The implications of not having insurance can be catastrophic. Its something none of us like to think about. If you don’t have homeowners insurance, you are out of luck if your house burns down. Even not having renter’s insurance can be disastrous, especially for a younger person just starting out (and more likely to be renting). If your apartment is subject to theft, a hurricane, earthquake, flood, tornado, or fire, it could take a year and thousands of dollars to replace all the furniture, appliances, clothes, computers, and pictures.