What Does Renters Insurance Cover? (2024)

What are the different types of coverages offered on a renters insurance policy?

The standard coverages on a typical renters insurance policy are personal property, personal liability, medical payments to others, and loss of use.

Personal property

Personal property coverage covers your possessions—including electronics, clothing, and furniture—in case of loss or damage. Your possessions may be covered even if you're away from home when the loss occurs. For example, if someone steals your laptop from your car, your renters insurance may pay to replace the laptop, up your policy's limits and minus your deductible.

Your policy's personal property coverage may cover personal possessions, damaged from a covered peril, from the following categories

  • Clothing
  • Electronics (TVs, Blu-ray/DVD players, computers, etc.)
  • Furniture
  • Decorations
  • Toys/other games (arcade systems, pool tables, ping-pong tables, etc.)
  • Tools/power equipment
  • Appliances you brought into your place (refrigerators, washers, dryers, etc.)

Personal liability

Personal liability coverage may provide protection if a claim or lawsuit is brought against you for bodily injury or property damage that you may be responsible for. For example, if a visitor trips over your rug and is injured, liability coverage may provide compensation up to your policy's limits for their injuries and provide you with legal defense if you are sued.

Medical payments to others

Medical payments to others may provide coverage if there's bodily injury due to an occurrence. For example, suppose a visitor is injured and requires an x-ray to determine if her leg is broken. This coverage may pay for her medical costs, up to your policy's limits.

Loss of use

Loss of use coverage may pay for additional costs you incur to maintain your normal household standard of living while your rental home is being repaired or rebuilt due to a covered loss. For instance, if a fire makes your rental home not suitable or fit to live in, additional living expense within your loss of use coverage may pay for a short-term rental, a storage unit for your belongings, and increased food bills.

While these coverages are common on most renters insurance policies, some providers may offer optional coverages, including personal injury and water backup. Learn more about the types of renters insurance coverages and how renters insurance works.

What does renters insurance not cover?

Renters insurance typically won't cover normal wear and tear, or damage or losses that occurred before you bought the policy. Your renters insurance policy also won't cover damage and vandalism to the dwelling (which is your landlord's responsibility) or your roommate's possessions if they aren't listed as a named insured on your policy. Contact your insurer to see if you're able to list your roommate on your renters insurance policy.

Certain natural disasters, including earthquakes and sinkholes, are also typically not covered by standard property insurance, regardless of whether you rent or own. Floods typically aren't covered, even when they result from another covered event such as a severe rainstorm. You may purchase a separate flood insurance policy from the National Flood Insurance Program or a private insurer.

Get the right renters insurance coverage for you

What Does Renters Insurance Cover? (2024)

FAQs

What Does Renters Insurance Cover? ›

Most commonly, renters insurance will cover the following: Personal possessions, which reimburses for loss or damages to your belongings. Loss of use, which reimburses you for living expenses if you have to temporarily relocate. Liability, which protects you if injure someone or damage their property.

What does renters insurance include coverage for? ›

Renters insurance typically covers fire, windstorms, lightning, explosions, theft, and vandalism. Your personal property, personal liability, additional living expenses, and guest medical expenses are usually covered under your renters insurance.

What does renters insurance cover Quizlet? ›

What is this Renters insurance? Renters insurance provides liability insurance and the tenant's personal property is covered against named perils such as fire, theft, and vandalism. It also pays expenses, when the dwelling becomes uninhabitable.

What is typically not covered by renters insurance? ›

Damage Caused by Floods, Earthquakes and Sinkholes

Flooding, earthquakes and sinkholes are all examples of natural disasters that are not covered by a typical renters insurance policy.

Why is renters insurance important? ›

Renters insurance can help you repair or replace property after loss due to many types of damage or theft. It can also provide coverage for an accident at your residence. Policies usually have very affordable annual premiums. Note that your landlord's property insurance doesn't cover your belongings.

Does renters insurance cover moving costs? ›

Unless you're moving to relocate while your rental home is repaired due to a peril covered by your renters insurance policy, the cost of your move is not covered either. Licensed moving companies usually offer coverage for damage while they have your stuff. Third-party moving insurance is also available.

Does renters insurance cover broken windows? ›

Broken Windows in Your Home

Renters insurance will not cover a broken window in your own residence. Renters insurance only covers your personal property, not the home. Damage to the physical structure of the building you live in, which includes a broken window, is covered by your landlord insurance.

Which answer is true about renters insurance and your landlord? ›

Unlike some other states, California landlords are allowed to require tenants to obtain and maintain renters insurance while they are under the terms of the lease.

What is often termed renter's insurance? ›

To protect your belongings, you should consider purchasing renter's insurance, also known as “tenant's insurance.” The renter's policy may be used to provide coverage for your personal contents located in the property that you occupy.

Which of the following should be covered by renter's insurance Ramsey? ›

Renters insurance will cover you and your belongings if their is ever a fire, theft, or vandalism.

What are three major parts of a renters insurance policy? ›

Renters insurance has three basic coverage components: personal possessions, liability, and additional living expenses.

Does renters insurance cover pet damage? ›

Renters insurance may cover pet damage as part of your policy's liability coverage. This may help protect your finances if your pet injures someone else or damages their property. However, renters insurance won't cover damage to your own property that's caused by your pet.

Does renters insurance cover clothes? ›

Personal property coverage covers your possessions—including electronics, clothing, and furniture—in case of loss or damage. Your possessions may be covered even if you're away from home when the loss occurs.

Is renters insurance really worth? ›

Renters insurance coverage is almost always worth it. It is much more affordable than other policies, including home or auto insurance, and provides valuable financial protection. Even if you can save enough money to cover unexpected loss, renters insurance may be worthwhile.

Why is renters insurance so expensive? ›

Insurance is all about risk, so customers that live in areas with higher risks of claims usually have to pay more for coverage. Some location-based factors that impact renters insurance rates can include: The rate of crimes, especially theft, in your ZIP code.

Why is it bad to not have renters insurance? ›

If you don't have renters insurance, you risk losing your personal property, and your landlord's insurance will not cover your belongings inside the rental. Your personal belongings can only be covered if you purchase a renters insurance policy, which is one of the reasons why it is important to get it.

Does renters insurance cover everyone in the house? ›

If you decide to have individual renters insurance policies, be aware that coverage from your policy doesn't usually extend to your roommate's possessions. Therefore, while having your own renters insurance policy may satisfy lease requirements, it won't extend coverage to everyone in the home.

What are examples of commonly covered and not covered homeowners insurance situations? ›

Damage or destruction due to vandalism, fire and certain natural disasters are all usually covered. So is your liability if someone is injured on your property. Certain catastrophes, like flooding or earthquakes, are generally not covered by basic homeowners policies and require specialized insurance.

Does renters insurance cover bed bugs? ›

Standard renters insurance policies typically won't offer coverage for bed bug infestations or any resulting damage. If an infestation occurs, you or your landlord are responsible for covering the extermination costs.

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