There a many misconceptions about renters insurance and what it covers. To see if renters insurance is right for you, check out the biggest renters myths, debunked, below!


Myth #1: My landlord will replace my stuff if it’s lost or stolen

Truth: Unless stated otherwise, a landlord’s insurance policy usually only insures the building itself, and not the belongings stored within it. Having a renters policy is the best way to ensure that your personal belongings are covered.


Myth #2: Renters insurance is expensive

Truth: Because you’re only insuring your belongings (and not the building itself), renters insurance is actually quite affordable. Depending on the amount of coverage you select, a renters policy can cost as little as a specialty coffee a week.


Myth #3: Renters insurance only covers the stuff in my apartment

Truth: Renters insurance covers your belongings even when they’re not in your home. It covers things like your laptop, smartphone, bicycle, and more – when you’re at home or on the go!


Myth #4: Renters insurance only covers my belongings

Truth: Actually, a renters policy is much more than that! Your policy can include liability coverage and property damage coverage (if you cause accidental damage to your landlord’s property). It can even cover your living expenses if you’re displaced due to fire or other mishaps. Check out the full list of renters coverage available, here.


This information is provided for your convenience and is not intended as insurance advice. The views, opinions, and advice expressed in this article do not represent those of Homesite Group Incorporated. Please consult your insurance carrier or agent for information regarding your policy or coverages.