Common myths keep some renters uninsured

Three common myths keep some renters from getting insurance, according to the Independent Insurance Agents of America.

Myth No. 1 - Insurance is too expensive. Some renters don't insure their personal possessions because they believe insurance is too expensive, but renters' insurance is typically available for as little as $100 a year.

Myth No. 2 - My landlord's insurance protects me. Many renters think they are protected under their landlord's policy. Usually, the property owner's insurance covers only the building itself, not a tenant's possessions. Clarify this with your landlord before signing a lease.

Myth No. 3 - My landlord is liable if someone in my apartment is injured. Again, the owner's policy may specifically exclude liability for something that occurs within your rented residence. You could be held liable for injury to another person or damage to another's property if the incident occurs within your rented residence.

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Quick Tip # 9

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