Renters Insurance Myths

Myth #1 - My personal belongings are covered by my landlord's insurance

Landlords have insurance for the building you live in whether it’s an apartment, condo or house but your belongings are NOT covered under this. The owner of the property you rent is only responsible for insuring the building structure and for his/her own liability coverage. Your landlord’s insurance covers his/her loss in a situation where the building is destroyed, but not the property inside of it such as your personal property (furniture, clothing, electronic equipment and other personal belongings).

In the event of a loss such as fire, theft or water damage, your personal possessions would not be covered.  Renters insurance can provide coverage for your personal belongings and personal liability.

Myth #2 - I don't need personal liability insurance

Your landlord's policy most likely does not include liability for something that happens in your rented residence. If you injure someone or damage their property, and they decide to sue, the money will be coming out of your pocket unless you carry liability insurance.  Without liability coverage, your current and future earnings could be at risk. Liability insurance, which is included with renters insurance, can also cover legal defense costs depending on the amount of liability in your policy. 

If you have questions about any of these myths, call us today at 800-922-8381 to get the facts straight!