Do you need tenant insurance? Here are some common myths about your coverage.

Myth: Tenant insurance is too expensive.

The truth is, a basic policy can be had for as little as $10.00 per month! This also includes your liability for injury to another person or damage to another person's property if an accident occured. If you are not insured, you need to be prepared to pay the damages to another person's property if an accident were to happen.

Myth: I don't need tenant insurance - my landlord has the property insured.

This is one of the most dangerous myths in that it has an element of truth. Yes, the landlord has an insurance policy, but that policy only covers the building itself. You are responsible for everything that is inside the property.

Myth: I don't have a lot of valuables - it's not worth it for me to buy insurance.

It costs a lot more than you'd think to replace everything you have. Basic plans can have varying amounts of coverage to ensure you are paying for more than your belongings are worth. Would you be able to replace everything you have if it all was destroyed?

We highly recommend getting tenant insurance. It's cheap, and gives you the peace of mind of knowing your belongings and your money are safe in the event of an accident.

So, where do I begin?

• Phone your local insurance broker, they can give you all the necessary information and help you get set up.
• Ask your property manager or leasing agent about how to set up your insurance coverage.
• Get a quote online! For example, you can send an email to info@cherryinsurance.net with your request for coverage.

Click here to visit SGI's website and learn more.