Imagine for a moment you come home. Your apartment has been broken into and everything is gone. Or maybe even worse, the entire building has burned down. What do you do now?

Many local renters believe their belongings are covered in case of such an event. If they do not have renter’s insurance, however, they most likely are not.

Renters often are under the false impression their landlord’s insurance would cover their belongings in case of an incident. According to several local apartment complexes, including Star Properties, Suburban Apartments and Estates and Mason Properties, however, landlords’ insurance policies are limited to cover only their property. This means the actual building and any contents owned by the landlord itself are covered.

If it is not the landlord’s property, it is not covered, even if the damage is caused by natural disasters or structure fires.

Some students also may think they are covered under their parents’ homeowner’s insurance, or their roommate’s rental insurance. Most plans, however, cover children’s belongings while living in a residence hall, but not in a rental situation. Renter’s insurance also only covers the belongings of the policy holder; so if one roommate has insurance and another does not, only their belongings are covered.

Renter’s insurance also offers liability coverage for visitors, not just belongings.

According to a 2003 poll taken by the Independent Insurance Agents and Brokers of America, however, only 2 of every 3 renters has renter’s insurance.

“A lot of people don’t even know it’s available,” said Cary Boona, a representative from Country Financial in DeKalb.

Other misconceptions are that it is expensive or difficult to attain.

Renter’s insurance is available through any personal insurance provider for a very low cost. There are two options available for people looking for renter’s insurance: a stand-alone policy or a special tenant’s policy.

A special tenant’s policy is less expensive and it simply can be added to any current auto insurance plan.

“If you have an auto policy,” Boona said, “Just call your current company and tell them you want to add renter’s insurance. It’s not hard at all.”

These policies generally cost about $15.00 a month and have a set coverage amount.

The other option, a stand-alone policy, is more expensive. Depending on the building size and area, policies can cost around $100 a year. The coverage limit also can be raised if a renter has an individual item which is particularly expensive.

“I don’t have renter’s insurance because the chances of me needing that extra $100 is much higher than the chances of me getting robbed,” said DeKalb resident Eric Man.

According to a City of DeKalb Police Department report, there were 198 burglaries in 2004. Chances statistically are 132 of them did not have renter’s insurance.