Find the original quiz online here!

TRUE OR FALSE:  A renters’ insurance policy….

1. 

   Is not needed because the landlord’s insurance policy will pay for a renter’s personal belongings lost in a fire or theft.  FALSE – A landlord’s insurance does not insure your personal property items and will not replace them after a loss.

2. 

   Will pay your extra expenses if you are forced to temporarily move out of your unit after a covered loss. TRUE – The Loss of Use coverage will pay your extra expenses like extra rent, food, and laundry expenses related to temporary housing.
3. Will replace your Personal Property items, but only while inside your unit when stolen. FALSE – Your Personal Property items are insured on or off the premises including theft from inside a vehicle, subject to a per loss deductible.   

4. 

   Will pay medical expenses for a guest that is accidentally injured in your unit. TRUE – regardless of fault or liability, the medical expenses will be paid for your guest if accidentally injured in your unit, up to the limit purchased on the policy.
5. Provides Personal Liability protection for you or any family member living in your unit for accidents anywhere in the world. TRUE – The Personal Liability protection will defend and pay a claim if you or a family member living with you is liable for an accident that causes injury or property damage to others anywhere, not just at the rented premises.
6.  Is expensive and costs as much or more than Auto Insurance.  FALSE – Most Renter’s Insurance policies and very inexpensive and cost from just $10 to $25 per month in premium.  Far less than Auto Insurance policies.

So how did you do on our quiz? Post your score or what surprised you in our comments below. 

In the US there are more than 43 million renter-occupied units yet only 41% buy renters’ insurance according to an Insurance Information Institute poll. 

NOTE: Renters or Tenants Insurance refers to the typical HO-4 Policy Form available from all major insurance companies.

For specific coverage information and a quotation for your individual insurance needs, you are invited to Contact Us at American Insurance to speak to one of our helpful agents or find out more about Renters Insurance online here.