Renters Insurance Overview

Renting a home or apartment? You might think the landlord’s insurance has you covered — but it usually only protects the building. Renters insurance protects your stuff and your liability if something goes wrong. It is an essential safeguard for anyone who rents, providing financial protection against unexpected events.

It’s one of the most affordable types of insurance — often less than $20/month.

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What Does Renters Insurance Cover?

Personal Property

Covers your belongings if they're damaged, destroyed, or stolen due to:

• Fire or smoke

• Water damage (like a burst pipe)

• Theft or vandalism

• Storms or lightning

Liability Protection

Pays legal or medical bills if someone is injured in your home, or if you accidentally damage someone else's property (like water leaking into a neighbor’s apartment). This coverage is vital as it helps protect your financial assets in case of legal claims.

Loss of Use (Additional Living Expenses)

Covers temporary housing, food, or transportation if you can’t stay in your rental after a covered event. This ensures you are not left in a difficult situation if your home becomes uninhabitable.

What’s Not Covered?

• Damage from floods (you'll need a separate policy)

• Pests (like mice or bed bugs)

• Your roommate’s stuff (unless they’re on the policy)

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Common Questions

“Do I need it if I don’t own expensive things?”

Yes! Think about your clothes, electronics, kitchen items — replacing everything adds up quickly. Even modest possessions can amount to significant costs.

“Can I get a discount?”

Yes! Ask about:

• Bundling with auto insurance

• Senior discounts

• Smoke detectors or security systems

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