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What You Might Be Getting Wrong About Your Renters Insurance

By Reata Insurance Group Archive Comments Off on What You Might Be Getting Wrong About Your Renters Insurance

inside of an apartment

Generally, insurance is confusing. There are so many different types, policies, coverages, exclusions, and carriers. While homeowners know they need home insurance to protect their property and belongings, it’s common for renters to overlook the importance of having insurance for their possessions and rented space. Here’s what you might be getting wrong about renters insurance coverage.


Your landlord is not responsible for your belongings.

Many renters believe that since the landlord has insurance, the tenant’s personal possessions are covered under their policy, too. However, the landlord has insurance for the property – not your belongings. That means if you have valuable items such as electronics, furniture, and clothing, you should take out an insurance policy to protect them.


Loss of use is not a bonus.

Renters insurance also covers your temporary living costs if a disaster displaces you from your home. This is known as ‘loss of use’ coverage. One of the most misunderstood things about loss of use coverage is that it will pay for any hotel stay and meal you have. For most standard policies, you’re only eligible for costs that go above your regular housing and food budget.


Your roommate’s property is not your property.

If your roommate’s belongings are damaged, lost, or stolen, he/she cannot turn to your renters insurance policy for help. Unless he or she is a named insured on your insurance plan, they will be on the hook for covering associated expenses of a peril.


Whatever your rented space, remember to properly insure it with reliable renters insurance. Contact the team at Reata Insurance Group. We can help you secure reliable renters coverage in Texas that suits your needs and budget.

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