The simple answer to this question is: Immediately. But let's look at why a bankruptcy will not affect your ability to purchase renters insurance so that you will understand both the importance of bankruptcy to home insurance and the importance of the insurance itself.
Having a bankruptcy in your credit report will have many adverse effects on your ability to buy things. Buying or renting a home may be affected by the bankruptcy because lenders and property owners are concerned about your ability to pay, but once you have been accepted for a rental or lease, your next step is going to protect what you have. If you are denied renters insurance and your home is burglarized, you are subject to great losses. Since the purpose of insurance is to protect you against financial loss, not having the policy could push you into financial ruin.
Financially speaking, bankruptcy is as low as most people can sink. The fact of bankruptcy is that you have reached a financial point in your life where you owe more money out than you are
capable of bringing in. In essence, you have become financially upside down and have been forced to seek legal recourse to prevent losing everything you own.
Renters insurance is meant to protect your personal property and to avoid financial ruin if a liability claim is filed against you. For instance, if your child accidentally breaks a window in your neighbor's house, the neighbor could take you to court and try to extract money from you. Since you have filed bankruptcy, your personal property may be the target of such a lawsuit. With renters insurance, you would be protected against this recourse, up to the value of the policy, bit without insurance, you could lose the last of what you have, leaving you completely ruined in a financial manner.
Insurance of all types exists to prevent you from sinking into financial ruin due to a loss or liability. After you have filed for bankruptcy, your personal possessions may be the only things you have left, and protecting them is what a renter's insurance policy is for.
answered Aug 19, 2013 by anonymous