How Renters Insurance Can Save Money Now and Later

Unlike car insurance or homeowners insurance policies, renters insurance is less expensive than many people realize. Plus, having a renters policy can allow you to get the auto and home discount on your auto policy. This discount can be savings of up to 20% off your automobile insurance.

Renters face many of the same risks as property owners when disaster strikes. Although your landlord probably has insurance, this only protects the building, not your belongings in it. A fire or thief could take away the personal contents you have spent years accumulating. If the unexpected happened, could you afford to replace everything? A renters policy covers clothing, furniture, appliances and many other personal belongings.

Common Misconceptions About Renters Insurance

Myth #1: I don't have enough stuff to justify insurance coverage.

A common reason individuals avoid renters insurance is that they don't think their belongings are worth that much. However, take an inventory of all of your belongings. What would it cost you if you had to replace all your furniture, clothes, and electronics? It adds up to much more than you think.

Myth #2: My landlord will cover my property.

Many incorrectly assume that their landlord's insurance policy will cover their belongings in the event of a fire. The landlord's insurance policy covers the structure, not the content or any of the tenants' belongings.

Myth #3: Renters insurance only covers my personal belongings.

Renter’s insurance also includes liability protection, so if someone was injured at your home and sued you, your legal expenses and any court award would be covered. Coverage is also provided for additional living expenses should you have to move out of your apartment due to a natural disaster or fire.

Myth #4: I take safety precautions, I don't need renters insurance.

You may do a great job protecting your belongings, however, accidents happen. If your next-door neighbor is careless and starts a fire, your entire apartment could also be damaged. You can't always predict the actions of the people around you.

Accidents, such as a burst pipe in your apartment, may damage property and can be costly. Renters insurance can protect you from these situations and help cover those unexpected costs.

We are local Dayton, Ohio insurance agents. Reno Insurance has been providing quality and affordable renters insurance for nearly 60 years. Contact Reno Insurance today to get the coverage to protect your apartment, furniture, clothes and more. We are here for you!