Common Renters Insurance Myths

Whether you just moved into a new apartment, have lived in a rental property for years, or are just thinking about moving into a town home, you will definitely want to consider getting renters insurance. Renters insurance covers your property against things like fire, smoke, vandalism, theft, explosion, and windstorms.

But you just rent your apartment or house, so you’re off the hook when it comes to insurance, right? This is one of the myths surrounding renters insurance and may be the reason why 57 percent of renters don’t have this important coverage. Unfortunately, that is not where the myths end.

Myth #1—“My landlord’s insurance covers me.”

Contrary to popular belief, your landlord’s insurance only covers the rental building, not your stuff or your liability in the event of an accident.

Myth #2—“My roommate’s insurance policy will cover my possessions.”Your roommate’s insurance policy will cover his or her possessions, but not yours. To cover your belongings, you will need your own renters insurance policy.

Myth #3—“My stuff isn’t worth that much.”

Your belongings are worth more than you think. Take a quick look around your apartment and perform an inventory. Things add up faster than you think—your furniture, television, and even your clothes. You might be surprised at how much your possessions are worth.

Myth #4—“I don’t really need personal liability insurance.”

Accidents happen. Do you really want to pay the legal fees for a lawsuit or someone else’s medical bills? Renters insurance can assist in paying for those types of bills in the unfortunate case they occur.

Myth #5—“Renters insurance is an extra expense I don’t need.”

Renters insurance is actually very affordable. And when you bundle your rental insurance with your auto insurance, you can save even more money.

Renters insurance will cover all your belongings, including electronics, furniture, clothing, sporting goods, etc. And with renters insurance, your stuff is protected no matter where it is. Even property stolen out of your vehicle is covered! Optional coverages are also available, including personal property replacement cost, identity theft, and home business coverage. Free your mind and get an Acuity renters insurance quote today.