3 Common Myths About Rental Insurance Policies
There are several misunderstandings about renters insurance and who needs to be covered by it. These are the three most important myths about rental insurance policies we here at Schumacher Insurance Agency would like to debunk for you.
- I don’t have enough property. This is easily the most common misconceptions about renters insurance. You don’t think you have enough to spend money on coverage. But if you take a look around the room and do some quick math you might be very surprised by the results. Even in the most modest settings, items such as books and CD’s add up in value quickly. Add to that all the technical gadgets, including computers, tablets. etc. and you are quickly racking up quite a sum to cover.
- Surely, my landlord will cover property damage. Unfortunately, when disaster strikes a rental property, the landlord’s insurance policy will only cover the damage to the property and the grounds. Any personal belongings contained within are excluded because they are supposed to be covered by your renters insurance.
- Rental insurance policies only cover personal things. This is not true. Most renters insurance policies will cover liability costs such as slip & fall injuries or water damage caused by overflowing your tub. You could be out of a lot of money if you didn’t have this coverage to protect you. This may be the most important reason to get renters insurance in the first place.
We hope this clears up any misconceptions caused by myths about rental insurance policies. Please contact us at Schumacher Insurance Agency for any information or a free quote today.