Renter’s insurance protects your personal belongings from fire, storm damage, and other natural disasters, along with losses related to theft or vandalism. Unfortunately, based on widespread myths, many renters go without coverage, leaving them vulnerable to unexpected disasters. Here are some of the most common misunderstandings you may have heard about these vital insurance policies.

3 Common Myths About Renter’s Insurance

1. Only Renters With Valuable Property Need Renter’s Insurance

Adding up the cost of everything you own may total more than you might think. Renter’s insurance does cover big-ticket items like your TV and computer, but it will also pay to replace your dishes, towels, clothing, furniture, and anything else you own. Even if you don’t own very much, replacing everything could cost tens of thousands of dollars, which most families can’t afford.

2. My Landlord Has Insurance

While your landlord probably does have coverage for the building itself, their policy almost certainly doesn’t extend to your personal possessions. If a storm tears off the roof of your rental home, their insurer will only pay for structural repairs — not belongings that were damaged or destroyed by water.

3. Renter’s Insurance Is Expensive

Many renters assume that the cost of coverage would be prohibitively expensive, but this is far from the case. In fact, because renter’s insurance doesn’t have to cover the building itself, these policies are typically much cheaper than homeowner’s coverage. The average renter can normally get all the coverage they need for just a few hundred dollars per year.
 

With years of experience and a commitment to helping you protect what matters most, Family First Insurance Services is one of Wesley Chapel, FL’s most trusted agencies. Their agents will provide various options and offer the insight you need to make the right choice. Visit their website for a look at their services, and call (813) 994-3900 to request your free renter’s insurance quote today.