Unfortunately, there are many misconceptions surrounding renters insurance. In reality, this is both an easily manageable and expansive pieces of protection that any renter can carry. Let’s dispel some of those common renters insurance myths below.  

Myth: My landlord’s insurance will cover the damages to my belongings. 
Reality: Typically, a landlord’s insurance policy only covers the physical structure—not anything that’s within your walls or another tenant’s.  

Myth: My roommate’s insurance will cover the damages to my belongings. 
Reality: If you happen to have a roommate and they have renters insurance, only their items are covered—not yours. So, even though you may share household items and expenses, you can’t share renters insurance unless you’re listed on the policy.   

Myth: I don’t have enough valuable personal items to warrant renters insurance.  
Reality: Items add up fast! Your electronics, appliances and clothes are all large expenses that can be protected under your policy. 

Myth: My personal belongings are the only things covered under renters insurance. 
Reality: Renters insurance can also cover damage to someone else’s property within your home. And, depending on the limits of your personal liability coverage, it can help cover some or all of the medical expenses if someone happens to get injured on your property. 

Myth: Renters Insurance is too expensive.  
Reality: Because renters insurance covers only the value of your belongings, not the building, the premium is relatively inexpensive. For about the same cost as going to the movies once a month, you can gain peace of mind, regardless of life’s unexpected mishaps.  

Don’t Wait to Secure Coverage 
Remember, renters insurance exists to not only protect the belongings in your home, but so much more. We spend a lot of time and energy filling our living spaces with items that make it feel like home—but it only takes one unexpected event for damages to occur.  

Halkos Insurance Agency takes pride in providing quality personal insurance benefits throughout the state of Maryland. In today’s competitive property rental market, it’s a huge burden off of your shoulders to know that you have the right insurance benefits backing you up. We guarantee you’ll be able to get them easily when you work with us.