If you rent your home in Salt Lake City, UT, you should carry renters insurance for financial protection. We offer renters insurance policies at M8 Insurance.

Here are four common inaccurate assumptions you don’t want to make about renters insurance.

Renters’ insurance policies cover everyone living in a rental unit.

You cannot rely on a roommate’s policy to provide you with renters insurance coverage. Renters’ insurance policies typically only cover the policyholder. Those living in a rental unit with an insured tenant need to buy their own policy if they want coverage. 

You can use renters insurance to cover the costs of dealing with a pest infestation.

While renters’ insurance can compensate you for the loss of personal property due to an incident like a fire, renters’ insurance does not cover damages caused by a pest infestation. 

If you experience a pest infestation in your rental unit, you’ll have to pay any resulting costs out of your own pocket if your landlord won’t cover them. 

Renters insurance only covers you for liability costs.

While liability coverage is one of the most important features of renters insurance, liability expenses aren’t the only type of expenses that this type of insurance covers. Renters insurance also covers policyholders for other expenses, including loss of or damage to personal property. 

Renters insurance covers damage caused by flooding.

If your rental unit is in an area prone to flooding, you’ll need to buy separate flood coverage. Standard renters insurance policies typically do not offer any coverage for flood damage. 

Find the right renters insurance in Salt Lake City, UT, with our help at M8 Insurance. Get in touch now, and we can quote you a policy that will cover your rental unit.