Most homeowners purchase home insurance coverage as a matter of course, whether it’s because their lender requires it or because their home is such an important investment. However, too many renters forego renters insurance because of common misconceptions they have about it. Charles Adams Insurance Agency in Ashland, KY, hopes to correct these misunderstandings by addressing the most common ones in the sections below. This information should help you understand the benefits and the need for renters insurance.

Common Misconceptions About Renters Insurance

1. Your Landlord's Property Insurance Does Not Cover You

Many people believe their landlord's policy covers their own losses. It almost certainly does not. Most landlord policies protect the structure of the home or apartment building and any onsite equipment used to run the business. Your personal property is your responsibility. To protect it, you need to purchase a renters insurance policy.

2. You Need to Compare Rates

Another misconception is that rates for renters insurance coverage don't vary much from one insurer to the next. This is simply not true. As with any product, different providers charge different amounts, so it is imperative to compare rates instead of simply purchasing the first policy offered to you.

3. Renters Insurance Is for More Than Just Fires

Too many people associate renters insurance only with coverage in case of a fire; it offers other protection as well. For instance, it covers water damage in case a pipe burst in your apartment and damages your belongings, as well as mold damage up to the point that it could reasonably have been remediated. It also protects you against liability if someone gets injured on your premises or if you damage someone else's property.

If you're in the market for renters insurance coverage, contact one of the experienced agents at Charles Adams Insurance Agency in Ashland, KY. They have served clients throughout the region for more than 100 years, so they have the experience and expertise necessary to find you a home, life, renters, or auto insurance policy that meets your particular needs and fits your budget. Visit the Facebook page to view business hours and a map to their office, or call (606) 325-9709 to request an insurance quote.