Renters Insurance Made Easy

With renters insurance, you will be able to replace what is damaged or stolen.

Renters insurance covers your possessions against losses from fire or smoke, lightning, vandalism, theft, explosion, windstorm, and water damage from plumbing.

However, renters insurance does not cover floods, earthquakes or routine wear and tear. You can, however, buy separate policies for flood and earthquake damage.

If you are forced out of your home because of a disaster your additional living expenses will be covered.

Renters insurance pays the reasonable additional costs of temporarily living away from your home if you can’t live in it due to a fire, severe storm or other insured disaster. It covers hotel bills, temporary rentals, restaurant meals and other living expenses incurred while your home is being rebuilt. Coverage for additional living expenses differs from company to company.

Renters insurance also covers your responsibility to other people injured at your home or elsewhere by you, a family member or your pet and pays legal defense costs if you are taken to court.

Decide How Much Insurance You Need.

Add up the cost of everything you would want to replace if it were damaged or stolen. This could also serve as the basis for an inventory that will make filing a claim easier. For an inventory, also record model numbers, dates and places of purchase. Take photographs or make a video of these items and place a copy of the inventory in safe place away form your home.

If you rent an apartment or house you need insurance to protect your belongings. While your landlord might have insurance, it only protects the building. Your belongings are not covered under those policies.

Frequently Asked Questions About Renters Insurance

What is renters insurance?

Renters insurance is a type of insurance policy that provides renters with financial protection in the event of damage to or loss of their personal property, as well as liability coverage in the event that someone is injured on the rented property.

Do I require renter’s insurance?

Although it is not required by law, it is strongly recommended. Renters insurance can provide financial protection in the event of property damage or loss, as well as liability coverage in the event that someone is injured on the rented property.

What is the cost of renters insurance?

The cost of renters insurance can vary based on a variety of factors, such as the amount of coverage required, the location of the rental property, and the insurance company. Renters insurance can cost between $15 and $30 per month on average.

What is covered by renter’s insurance?

Typically, renters insurance covers damage or loss to personal property, such as furniture, electronics, and clothing, as well as liability coverage in the event that a person is injured in the rented property. Some policies may also include coverage for additional expenses, such as living expenses, if the rental property becomes uninhabitable.

Can I obtain renter’s insurance with a roommate?

Yes, the vast majority of insurance providers offer renters insurance to tenants who share a rental property with roommates. It is important to note that the policy typically covers only the insured’s personal belongings and not those of roommates.

Will renters insurance cover natural disaster-related damages?

It is determined by the policy. Some renters insurance policies may cover damage caused by natural disasters like floods and earthquakes, while others may not. It is essential to contact your insurance provider to determine what is covered by your policy.

Can renters insurance be obtained online?

Currently, many insurance providers offer the option to buy renters insurance online. This can make purchasing insurance more efficient and convenient.