I saw it again on the news last night, people standing outside their home, tired, cold and hopeless. They are staring at their burning house, barefoot and in their jammies, with a blanket for their only warmth. The news announcer said they were renting the house, all of their possessions were destroyed and they had no renters insurance. The fire had also spread to the house next door and there was damage to that structure and contents as well.
Given this scenario, there is nothing that could be done with the loss of memories that have been destroyed in mementoes and pictures, but the rest could be restored with renters insurance. People think renters insurance is only to replace their property( the couch, clothes, etc). It’s that and so much more.
Also covered by that policy would have been the cost of a place for the family to temporarily stay, reimbursement for the restaurant food they need to eat and, depending on the cause of the fire, possibly pay for the repair of the neighbor’s home and contents.
It is also a popular thought that renters insurance is expensive. Given anyone’s financial condition and where they find themselves, ten to fifteen dollars a month might be termed expensive, but that could be the amount needed to do away with the hopelessness of the situation and for peace of mind. It would certainly help.