5 Myths About Renters Insurance

One of the perks of renting a house, condo or apartment is the fact that you don’t have to be responsible for too much. Most renters think as long as the rent is paid and you take reasonably good care of the property, life is good. But there’s one other thing you need to be responsible for and that’s renters insurance. Many people wrongly believe some of these misconceptions about renters insurance: 

• The landlord’s insurance covers your belongings. The property owner’s insurance covers the building and structure, but not your belongings. 
• My parents’ homeowners insurance policy covers me. Many young people assume that a parent’s policy covers them. Sometimes that is the case in a college dorm, but in an apartment, you need your own policy.
• My roommate has a policy that covers our belongings. A renters policy covers a specific person’s belongings, so a roommate’s policy would only cover that person’s things.
• I live in a nice neighborhood where there aren’t any break-ins, and I don’t smoke or use candles so I don’t need insurance. Fires can be started by electrical appliances or someone in a nearby apartment, and there are other circumstances beyond your control (like weather-related incidents) that could damage your belongings.
• I can’t afford renters insurance. Renters insurance is one of the best deals in the insurance world. Order one less pizza per month and you’ve got the cost covered. 

Many people find out the truth of these misconceptions the hard way. Now that you know the facts, it’s time to take action. First, make an inventory of your belongings so you know what needs to be covered. If possible, take pictures or video. In the list, also include the brand, model numbers, serial numbers and value. Then contact your independent insurance agent to get your new renters insurance policy started. 

Still have questions? Call Vios Insurance Services at 818-779-4930 for more information on Van Nuys renters insurance.