When it comes to purchasing renter’s insurance, there are a lot of misconceptions out there that might cause you to get the wrong coverage or not have an affordable rate. From not thinking you have enough to insure to assuming a landlord is responsible for coverage, these myths could cost you money in the long run.

Common Renter’s Insurance Myths

1. A Landlord’s Insurance Will Cover It

Even if your landlord has their own insurance — which they should — it doesn’t cover anything for you, your belongings, or your home.  Each renter needs their own individual insurance so that they’re fully protected.

2. You Don’t Have Enough to Cover

Even if you’re just starting out in an apartment, you probably have belongings you wouldn’t want to lose. Additionally, most renter’s insurance policies also provide personal liability in the case that someone gets injured at your space.

3. Lowest Price Is Best

Selecting the lowest premium can be tempting, but it might not provide enough coverage for your needs. It’s crucial to shop around and speak to an insurance agent about your coverage needs and what makes the most sense for you.

4. You Wouldn’t Ever Need It

While you don’t want an accident or a break in to happen, the reality is that it does. It’s always better to be more prepared than to have wished you had coverage. If your place is broken into, or someone gets injured at your home, you’ll be thankful that you are protected.

5. It’s Too Expensive

Purchasing insurance may seem like an extra cost you don’t need, but it could cost you more in the long run without it. If you wouldn’t be able to replace all of your belongings, you need coverage to help. Shop around for the best rates, and you can find a rate that fits in your budget.

If you’re searching for more information on renter’s insurance or you’re ready to get coverage, visit the team at K.L. Smith Agency. Since 1953, their team has provided premier insurance coverage for the Willimantic, CT, area. Whether you need life insurance, homeowner’s or renter’s insurance, or car insurance, their team is dedicated to helping you find the best coverage at the most affordable rates. To learn more about their coverage options, visit them online, or call (860) 423-9294 to speak with a trusted agent today for a free quote.