Whether you rent an apartment, a duplex, or a house, it’s wise to obtain a renters insurance policy. Not only are rental homes just as likely to sustain fire and theft losses as their owned counterparts, but tenants should protect their belongings and finances in case of disaster, too. A renters insurance policy can cover you in many ways – little did you know. Here’s what you might be getting wrong about your renters insurance in Vancouver, WA.
Common Misconceptions About Renters Insurance
The landlord has insurance.
The owner of the building is responsible for insuring the structure. That means if the house or apartment burns down, the landlord’s insurance would pay the cost of rebuilding the property. However, their insurance will not pay for your destroyed personal property. In a case of loss, you either have renters insurance to replace your belongings or you pay out of your own pocket.
I don’t own much stuff, so it’s not worth insuring.
Even if you don’t have a lot of belongings, take a moment to think about the value of your belongings around you right now. Do you have a computer? TV? iPad? Clothes? Furniture? If you had to replace everything in your household at once, what would your total replacement cost be? Do you have enough money on hand to cover it all? A renters insurance policy can step in to help during these hard times.
It costs too much.
Renters’ insurance coverage isn’t as much as you’d think. For most policies, it can be as affordable as you make it to be. Work with your insurance agent to find ways to save on coverage without sacrificing coverage.
Finding the right renters insurance doesn’t have to be difficult. The team at Action Insurance Group are here to help. We serve residents in WA, OR, CA, ID, and UT – Contact us today to get started.
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