5 Mistakes Florida Renters Make Choosing a Policy

Renters in Palm Beach County often underinsure or skip coverage entirely. Here are 5 common mistakes and how to avoid them, from Bea at B & B Insurance.

TL;DR:** Renters insurance in Florida is inexpensive, but a lot of folks buy it wrong or skip it entirely. The big mistakes: assuming the landlord's policy covers your stuff, underestimating flood risk, picking actual cash value instead of replacement cost, forgetting liability coverage, and not telling your insurer about a roommate or a dog. Fix these and a policy that costs less than a dinner out each month actually does its job. I talk to a lot of renters around Lantana, West Palm Beach, and the rest of Palm Beach County who think renters insurance is optional, or worse, think they already have it because their landlord has a policy. Neither is true. Your landlord's insurance covers the building. It does nothing for your couch, your laptop, or the guest who slips on your kitchen floor. The average renter owns somewhere between $20,000 and $30,000 worth of personal property when you actually sit down and add it up , electronics, furniture, clothes, kitchenware, bikes, jewelry. Most people are shocked by that number until they do the math themselves. Here's what I'd tell my own family before signing a lease or renewing a policy. 1. Assuming the Landlord's Policy Covers Your Belongings This is the number one mix-up I hear. A landlord's policy protects the structure, the roof, the plumbing, sometimes the appliances that came with the unit. It does not cover your TV, your clothes, your furniture, or anything else you own. If a pipe bursts, a fire starts, or someone breaks in, your personal property is on you unless you have your own renters insurance. To make this concrete: imagine a grease fire starts in your kitchen and spreads to the living room. Your landlord files a claim to repair the walls, the cabinets, and the flooring. That claim closes, the unit gets fixed,…