Common renters insurance myths, debunked.
Renting a home is a great way to enjoy a space of your own without having all the same responsibilities that owning a house comes with. However, just like owning a house, investing in the right insurance policies can help to make sure that your home and personal belongings are covered in case of any incident. Don’t believe these renters insurance myths to ensure that you are able to invest in the right policy to meet your needs.
- It is very expensive – in fact, renters insurance is one of the most affordable insurance policies out there. Typically, a year of coverage will only cost a couple hundred dollars.
- It doesn’t provide much coverage – typical renters insurance policies will provide protection for many perils, including theft, fire, smoke, vandalism, windstorms, and electrical surges. It will also provide liability coverage if someone sues you after getting injured at your home.
- My landlord’s insurance will protect everything – while your landlord should have an insurance policy for your home, it will only provide coverage for the structure of your home, not for anything that you keep inside. Relying on your landlord’s policy will leave you covering the bill for any of your furniture and personal belongings that are damaged.
- Nothing I have is worth protecting – many people, especially when just starting out on their own, don’t think that their belongings are worth much. While you may not have a cabinet filled with fine china, when you add up the value of all of your belongings, it will probably reach into the thousands. Knowing that you have coverage from your renters insurance policy can give you the peace of mind that you need in case of any damage.
For help finding the right renters insurance policy that will meet all of your needs, contact the insurance professionals at Phocus Companies in Phoenix, Arizona.
