The mere word insurance is enough to strike fear into the hearts of many. Health insurance, car insurance, dental insurance, life insurance, home owners insurance, renter’s insurance…. There are so many different types of insurance that most people don’t even know where to start! When you are a renter, one would assume that the owner or property manager would have the insurance to cover your belongings if something were to happen to the house, condominium, or town house where the contents of the house were damaged. This however, is a common misconception.

In most cases, home owners have home owners insurance on their rental property. However, the insurance that they have only covers the structure of the home and the land it sits on, not the contents. For town homes and condos, the home owner’s insurance only covers the interior structure, but not the tenant’s personal property, as the Home Owners Associations that manage the exterior of the properties would cover the main structure. In section 20 of your lease for Bergan Realty, it states that it is up to the tenant to provide renters insurance on their belongings and not the owner. Remember, the policies held by the homeowner do not cover any personal property that is owned by the tenant. This would be where renter’s insurance comes into play!

Having a renters insurance policy can help you recover your personal property in cases of fire, natural disaster (such as a tornado), and theft. Some policies even cover the cost of displacement if you have to stay at a hotel while the property is being repaired from damage. They can also help cover liability costs if a person is hurt at the property, as you could also be named in a lawsuit even if you are the renter and not the owner of the home. Your policy could even cover a lost or stolen suitcase when you travel! It all depends on what kind of policy you decide to get.

Some might consider that their belongings aren’t valuable enough to insure, but consider if the home floods and you have to replace a TV, DVD player, the furniture in the house, or your clothing! All the little items add up to a lot at one time. The good news is that renter’s insurance isn’t all that unmanageable. The average cost of a renter’s insurance policy is around $12.00 a month, depending on your area. You could also check with the company that you have your car insurance with, as many companies will allow you to bundle the policies to save money. $12.00 a month compared to replacing your belongings isn’t really all that much in the long run!

If you have any questions that need answering or would like a quote on renters insurance, you can contact your insurance company or Jenny Scholes from Pruett Scholes Insurance Group would be happy to answer your questions and give you a quote!

You may contact her by phone at 303.778.1900 or email at