A 2012 Insurance Information Institute (III) poll found that 96% of homeowners had homeowners insurance but only 31% of renters had renters insurance.
Renters insurance can be an affordable policy that can provide a great deal of protection. Though one may not own an entire home, it should not mean that their personal possessions and liability are not a priority. If you are a renter, take a moment to think about the items that you own in your home. Just your laptop and television set together may run you at least a thousand dollars to replace. Having renters insurance in place can lessen the cost of replacement.
One reason renters decline coverage may be that they assume that their landlord’s insurance policy will have them covered. This is NOT the case. Your landlord’s insurance policy is designed to protect THEIR building structure and THEIR property. Your landlord is not responsible for your personal belongings… you are!
To be clear, a solid renters insurance policy is designed to protect you when it comes to:
- Personal possessions, belongings, etc.
- Liability (injuries and accidents on your property)
Bottom line: You are responsible for your assets in your apartment or rental, just as a homeowner is responsible for the property that they own. Looking at the statistics above, our agents believe that renters have some serious catching up to do!
If you are a renter in the state of South Carolina, we want to hear from you. We can also provide flood insurance and valuables (jewelry, art, collectibles, etc.) insurance to renters who need these additional policies.
At the McKenna Agency, Inc., we look forward to answering your questions and providing you with a free renters insurance quote. Please contact us by filling out the free form on this page or calling 843.795.0189.