Many renters feel that since they don't own the property the live in, there is no need for insurance. Surveys have revealed that over half of those who rent a house, apartment or condo have not bought renters insurance. Let's look at some of the common reasons people don't buy renters insurance.
Some Feel That Renters Insurance is Too Expensive
You can probably purchase $30,000 in renters insurance for under $20 per month. It's a very small expense when you think about having to replace all of your furniture, appliances, electronics, clothes and every other item within your unit.
College Students Think Their Property is Covered Under Their Parents' Home Policy
Under certain circumstances this may be true. If you are a full-time student and live in a college dorm, your personal items are probably covered under your parents' home insurance. However, if you should decide to move off-campus or change your enrollment to part-time, you will need to buy a renters policy to cover your personal possessions.
Some Renters Feel Their Property is Insured by the Landlord
Your landlord may have property insurance to protect the building structure and common areas, but this insurance offers no protection for your furniture and other belongings inside your rented property.
Some Feel They Don't Have Enough Property to Insure
If you take an inventory of everything you own inside your home, you will probably be very surprised. Most people own more personal property than they think. It really doesn't take a lot of property to amount to $20,000 or more. A renters insurance policy will not only replace things, but it also offers liability protection.
Even though you rent your home, you probably own all the expensive stuff inside. If your house, condo or apartment were totally destroyed by fire, who would replace everything you own? By making a small investment in renters insurance, you have the peace of mind in knowing that you are protected from a potential loss.
Get your coverage today. Call Strawn and Co. at 770-957-9005 for more information on McDonough renters insurance.