Get the protection you need for your rental property.
Renters insurance tailored to your needs.
When you rent or lease, your landlord’s insurance usually only protects the building itself—not your personal belongings. We’ll design coverage to protect your personal property and your lifestyle while renting.
Are your personal belongings protected?
You might think that your landlord’s insurance covers your personal possessions. However, that only covers the building itself. Renters insurance is the only way to protect your valuables, and it’s much more cost-effective than you’d think.
What your renters policy can do.
There are two parts to renters insurance. The first is property coverage for damage or loss from certain unexpected events. Be sure to check your renters insurance coverage details–there will usually be both an overall limit on the payout and a maximum amount for any one renters insurance claim. Here are a few examples of what can be covered in a renters policy:
- Fire
- Theft
- Lightning
- Wind/Hail
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Personal Property
Risk Factor
Unpredictable losses can occur to your property due to burglary, fire, water damage, storm, and more.
Solution
Personal property, such as furniture, rugs, TVs, stereos, clothes, and more may be covered under your basic insurance policy. However, items like jewelry, furs, silverware, antiques, collectibles, and other valuables should likely be insured separately.
Limits and Exclusions
Risk Factor
Some types of personal property are subject to limits of coverage under renters insurance policies. These limits vary by the type of property and by what caused the loss or damage. For example, jewelry, bicycles, collectible cards, and coins may have limited coverage or may not be covered.
Solution
Obtain a personal floater or schedule your valuable possessions to ensure you’ll have the money to replace them.
Additional Living Expense
Risk Factor
If the building you live in has a loss from a covered peril under your renters insurance policy that makes your apartment or home uninhabitable, you will need to find somewhere else to live while the repairs are undertaken. This can be expensive and inconvenient.
Solution
Be sure your insurance policy includes additional living expense coverage. If you need to move out and rent another location, this coverage provides for the increase in living expenses–such as moving costs, increased food costs, and other expenses.
Liability
Risk Factor
You are responsible if you or a guest in your unit trips and falls or sustains an injury while on your property.
Solution
Be sure that you have adequate liability insurance to protect for claims made against you for bodily injury or property damage – such as a slip and fall or other allegation. Liability coverage also provides protection should you become legally liable for unintentional bodily injury or property damage anywhere in the world.
Medical Expenses
Risk Factor
You're responsible if a guest is injured while on your property and you may be required to pay their medical expenses.
Solution
Ensure your insurance policy covers this risk. In the event a person is injured in your unit, he or she can submit medical bills to your insurance company. Medical expenses are usually paid without a liability claim being filed against you, with typical limits ranging from $1,000 to $5,000.
Landlord
Risk Factor
You may not be able to rent the apartment or home if your landlord or property manager requires renters insurance and you do not have it.
Solution
Having a renters insurance policy allows you to provide a certificate of insurance to the landlord or property manager showing that you have the coverage required to rent the apartment or home.
Improvements or Betterments
Risk Factor
Any improvements or betterments that you have made to your unit are subject to damage.
Solution
Be sure to obtain coverage for improvements or betterments that you have installed in your apartment or home.
Contents Away from Home
Risk Factor
You may take your valuable property outside of your unit. For example, what happens if your laptop or golf clubs get damaged or stolen while traveling?
Solution
Be sure to add off premises theft coverage to your policy to cover your personal property while your belongings are away from your home. Auto insurance does not usually cover personal property stolen from your car.
Premises Liability
Risk Factor
You may be responsible for damage to your apartment or dwelling should you, for example, have a leaking sink or accidentally start a fire.
Solution
Be sure your policy has liability coverage that includes tenants legal liability or premises liability. Your landlord may require that you to have this type of insurance protection in place as a requirement before renting the property to you.
Liability coverage options.
Another way some renters policies protect you is through liability coverage. For instance, if you accidentally damage the rental property itself or if somebody is injured while visiting you at your apartment, your insurance would cover it.
Loss of use coverage.
You may also get a payment for living expenses if the rental property is uninhabitable after one of the events the renters insurance policy covers. This safety net can help you recover from such a loss that you would otherwise have to pay for out-of-pocket.
Exceptions of renters insurance.
There are a few things that are not included. For example, if you park a vehicle on the rental property itself, your car usually won’t be covered by renters insurance.
Whether you rent a home or a studio apartment, you can’t afford to not have renters insurance. In fact, it’s extremely cost-effective. We’d be happy to walk you through the options to ensure you have the insurance coverage and protection you need.
Renters Insurance FAQ
Does renters insurance pay actual cash value or replacement cost for my belongings?
It depends on your policy. Actual cash value coverage pays what your belongings are worth at the time of loss, factoring in depreciation, while replacement cost coverage pays what it would take to replace them with new items of similar kind and quality. Replacement cost coverage generally costs more but pays out more when you file a claim, so it’s worth confirming which one your policy has before you assume you’re covered for full replacement value.
How much does renters insurance typically cost?
Renters insurance is generally affordable, often running much less than a standard homeowners policy. Your actual rate depends on your location, the amount of personal property coverage you choose, your liability limit, your deductible, and your claims history. Because pricing varies significantly by insurer and coverage level, a quote based on your specific belongings is the most reliable way to know what you’ll pay.
Does renters insurance cover identity theft?
Identity theft protection generally isn’t included by default in a standard renters policy, but some insurers offer it as an optional endorsement for a relatively small added cost. When included, it typically helps cover the costs of restoring your identity, like notary and legal fees, rather than reimbursing money stolen directly from your accounts. If that’s a risk you’re concerned about, ask your agent whether the endorsement is available on your policy.
Does renters insurance cover a home-based business?
Generally not. A standard renters policy typically excludes business personal property and business liability, so equipment, inventory, or client-related claims tied to a side business or home office usually fall outside your coverage. Some insurers offer a business property endorsement or a separate policy to close that gap, depending on the size and type of business. If you run any kind of business from your rental, flag it with your agent so nothing slips through the cracks.
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