Is my property covered if I live with Family or a Friend?

Renters Insurance

A common question we have been receiving quite often these days is, “I don’t need Renters Insurance… Is my personal property covered under my friend’s/family member’s policy if I am living in their house and they have a Homeowners Policy?”

The answer is no! If you are over the age of 24, not a student, and you are living in a house that you do not own, then your personal property is not covered. You will need a Renters Insurance policy, which is fairly inexpensive (see the previous blog post). Yes, Renters Insurance will cover you even if you technically do not pay rent! The policy is not only inexpensive, it can also cover you for personal liability and can give you a 15-20% (on average) discount on your car insurance if you bundle it with the same carrier as your auto insurance.  If you live in South Carolina, Renters Insurance can be especially cheap!

Don’t find this out the hard way by having a loss (fire, item stolen or damaged, etc.) and then finding you do not have any insurance coverage! In fact, a 2006 Insurance Research Council poll found that while 96 percent of homeowners have homeowners insurance, less than half of renters have a renter’s insurance policy. Many people incorrectly assume that their landlord’s insurance policy will cover their belongings. This is simply not true!  At some point in everyone’s life, you begin to accumulate items that will be hard to replace at once.  Renters Insurance or Homeowners Insurance is important! There are a lot of misconceptions about Renters Insurance and we hope that these two blog posts can help clear some up.

 Contact Us for a firm quick quote. All we will need is your name, address, contact information, and the approximate amount of property you want. A few minutes will be well worth your time!

About Joe Popkowski