Renters insurance is one of the most forgotten types of insurance. It is important that you understand the greatest myth that surrounds this type of policy. Many people make the assumption that it is not needed. After all, the apartment complex has insurance, as does a homeowner who is renting their home.

While it is true that there is insurance in place for apartment buildings, condominiums, and homes through homeowners insurance, this does not provide protection for the renter. Renters insurance in Ponte Vedra Beach is still very much needed.

WHY SPEND THE MONEY ON RENTERS INSURANCE?

Renters insurance is going to protect you and your belongings. The structure of the property that you are renting is covered through the owner’s insurance. However, this doesn't account for anything that happens within your space. For example, if there is a flood in the apartment above you, the structure will be covered through the owner’s insurance policy. However, your furniture that gets damaged is not covered because it is not something that belongs to the owner – it belongs to you. Renters insurance will provide you protection so that you can file a claim.

The same goes for various forms of theft. If someone breaks in your apartment and steals your big screen TV and all of your jewelry, you want renters insurance to fall back on. It is very similar to homeowners insurance in regards to what it will cover. However, since you are not an owner, you need to obtain renters insurance.

WHAT IT'S GOING TO COST YOU

The cost of renters insurance is minimal when compared to what you pay for various other types of insurance premiums. Much of the policy premium is going to be based upon where you live and the value of your belongings. It is a small price to pay to know that you have sufficient protection against your belongings.

Certain apartment and condo buildings may even require you to show proof of a renter’s policy. This is done to educate residents on the need for this type of insurance and also to ensure everyone is protected in the event that something does go wrong. In addition to showing proof, there may be limits that you must obtain as well – and then it is up to you whether you exceed those limits or not.

Many companies offer renters insurance and you can work with an independent insurance agent in Ponte Vedra Beach in order to learn about the best companies and make rate comparisons. Additionally, you may qualify for discounts, particularly if you choose to purchase renters insurance from the same company that you have auto or life insurance from. Working with an agent will ensure you are aware of the discounts and the various options that exist within a renter’s insurance policy.