From single family homes, to apartments and condominiums, the rental market in eastern North Carolina is fairly prominent. In the case of a fire, natural disaster or the unfortunate event that your home or belongings are destroyed, do you have a renters’ insurance policy that would replace your possessions? You may think that you don’t need insurance and that it’s not that big of a deal. However, we encourage you to think again. Take a look at these 5 renters’ insurance myths that we’ve busted.
1. It’s expensive.
Not true! Renters’ insurance policies are very affordable. Typically, people can insurance all of their personal belongings for under $20 each month.
2. My landlord has insurance, so I don’t need it.
True, your landlord does probably have home owners insurance that insures the structure. So, if the house were to burn down, the landlord’s insurance would pay to rebuild the house, however, it would not pay to replace all of your personal property that was destroyed.
3. It’s complicated.
It’s more simple than you may think. At Chalk and Gibbs, we do the shopping for you. We take your needs into account to find you the right coverage for the right price so that you don’t have to spend hours on the phone or searching for coverage you don’t need.
4. I don’t have a lot of stuff, so I don’t need it.
You may not have much stuff and you may think that what you do have is not worth a bunch of money. However, if you house or apartment was completely destroyed and you had to replace everything you owned, it would probably cost a lot of money. Think about a TV, computer, dishes, towels, clothes and everyday items that you would have to repurchase out of pocket. Renters’ insurance also pays for some hotel expense should you get displaced because of a fire, flood, etc. in the home temporarily.
5. My roommate has renters insurance, so I don’t need it.
Your roommate is smart! Just because they have an insurance policy to protect their belongings, doesn’t mean that yours will be covered as well. Make sure you have your own renters’ insurance policy to cover your own belongings.
Let our agents at Chalk and Gibbs assist you in finding the right rental insurance policy coverage you need. Call us today to speak with one of our agents!