Renters Insurance Myths Busted – You Do Need Coverage

More than likely we have all said “it won’t happen to me” or “I don’t need renters insurance”. But, in Renters Insurancereality, whether we are a renter or a homeowner we all need insurance to cover our personal property and to provide us with liability coverage

In this post we are going to cover 4 of the most common myths for Renters Insurance.

1. I don’t have enough stuff to need insurance coverage

If you do a quick room-by-room inventory of everything you own, from dishtowels to dining room chairs, your total gets pretty big pretty fast. The average renter in a two-bedroom apartment has about $30,000 worth of belongings. Even if you are a college student renting an apartment you still have more than you think.

2. Since I am a renter, my landlord will cover property damage

Occasionally, that may be true, but it’s more likely that your landlord’s policy only covers the structure, not the contents of your apartment. A renters policy is not all about personal property, it also gives you liability coverage.

NOTE: If your landlord has a policy covering your personal property, ask for a certificate of insurance so you have proof!

3. Renter’s insurance only covers my belongings

Typically you will be living over or under another tenant, and if something in your apartment damages something in theirs, your renters insurance will cover the damage up to your liability limit. So, the renters policy is much more than just coverage for your personal property.

4. Renters insurance is too expensive

Compared to car insurance or homeowners insurance, renter’s insurance is a bargain. You can expect to pay about 50 cents a day for a policy. Renter’s policies offer a lot of coverage for a small amount.

Why risk the chance of having something to happen when you can pay a small amount of premium and have a little peace of mind knowing your stuff is covered.

 

Want a quote or more information?? Call Marketing Link Insurance at 800-944-3264

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