PASCO COUNTY, Fla. — After the home he was renting caught fire on January 3, Lloyd Putnam learned the hard lesson the renters insurance he was paying for didn't cover any of his personal belongings.
Back on December 30, Putnam put in a work order to his property manager, Invitation Homes, after an electrical switch on his circuit breaker kept switching off.
"It kept snapping, and then we would go back, and it just popped right back, so there was an issue," he said.
Putnam said Invitation Homes told him someone would come to check it out on January 10, but the home he was renting caught fire on January 3.
"This is where the gas line when it erupted, took out the ceiling," Putnam said. "The fire investigators said the fire was caused by a short in the wiring. The one we reported."
Days later, with no answers from Invitation Homes, Putnam reached out to us for help as he was now homeless, and a crumbling roof with several rainy days left most of his belongings destroyed.
And he said none of it was covered.
Confused over what he said was a misleading line on his monthly rent payment saying he was paying for renters insurance. It's why he let his personal renters insurance with Geico lapse when we renewed his lease in October.
"They charge you $10 and then another $5.50 for an admin fee for your renters insurance. So now, after we find out this happens, we find out it's not renters insurance."
On his bill, it's listed as "Renters Ins Hom Lia Policy Prem."
According to Invitation Homes' website, Putnam was automatically enrolled and was paying for home liability insurance, covering the property for Invitation Homes but not his personal belongings.
"What do you think when you are a renter and you see renters insurance?" Putnam said. "It didn't say homeowner's insurance. It doesn't say this is insurance to cover our house in case something happened. It doesn't say that. It says renters insurance."
Jay Wolfberg is the president of WE Insure Insurance Group.
"If you don't know the terms if you don't know property and liability, then it can be a little bit confusing for sure," Wolfberg said. "A lot of times, people will just be looking for the minimum to qualify for the lease, and that's where you can kind of run into trouble."
He recommends this as an example of why renters should not rely on property managers or their landlords to provide insurance.
"These are commercial policies. They are designed to protect the property manager, in my opinion," Wolfberg said. "It's very unfortunate. I think these property managers should have a little bit more disclaimer and due diligence behind what they are doing with insurance because they are definitely not insurance agents."
Instead, Wolfberg said to get your own policy in your name, recommending three main coverages in your policy: personal property, liability, and loss of use.
"Contents. That's going to be all of your stuff. The liability is if somebody gets hurt on your property," Wolfberg said. "Another important piece is called loss of use. So this is if there is a covered loss in your unit like what you're describing with a fire, this would pay for you to stay somewhere else either $1 amount or a specific time frame while your current place is being repaired."
Wolfberg said renters insurance is usually inexpensive and that you can find all three coverages in your policy at around $200 a year.
Something Putnam hopes others will learn.
"Don't make the mistake that I made. Go get renters insurance," he said. "They prey on people that don't pay attention, and I made the mistake of not paying attention."
After emailing Invitation Homes, a spokesperson released this statement to ABC Action News.
“Our goal, as always, is to offer high-quality homes and ensure our residents have great experiences. In this situation, we are working with our resident to relocate them to another home in the same area and to provide support as they go through this very challenging time.”
Invitation Homes then referred us to their website, which they say states the requirements for insurance for residents.
"We encourage residents to do their own research when it comes to renters insurance to determine the proper coverage needed for their individual situation," the email wrote.
Putnam also said since ABC Action News contacted Invitation Homes, they have moved him and his family into another home, credited two months' rent, and are reimbursing the costs for the hotel stay while they were out of the home.
As for the loss of their personal property, Putnam said the couple has retained an attorney to help navigate who can help or be liable to cover their losses.