What does Renters insurance cover and do I need it?

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What does Renters Insurance cover?

Personal Property

Renters Insurance covers ALL of your belongings in case of theft, loss, or destruction in the event of a fire, storm, or other covered event. You might be thinking that you don’t own that much, but think about everything you own…couch, bed, dresser, desk, clothes, jewelry, computer, TV, microwave, dishes, glasses, pots and pans, the list goes on and on. Even college students that seem to not own very much usually have a computer, tablet, phone, and TV. If you don’t have the money to replace everything at once, then you definitely need Renter’s Insurance.

As an added bonus, most policies cover your belongings even when they’re not inside your home. So if you lose or damage your MacBook while on vacation and don’t have an extra few thousands of dollars lying around to replace it, your policy probably will cover it.


Everyone makes mistakes sometimes. Hopefully, you won’t make a mistake that can cause damage. For example, if your cat knocks over a candle and your apartment catches on fire, you would be liable for all damages. Your landlord’s policy will protect the building, but you will be responsible for repairs and damages done inside of your apartment. And if the fire affects someone else’s apartment, you would be responsible for anything damaged in those apartments, too.

In addition, if someone comes over to your place and injures him/herself, a Renter’s Insurance policy will cover any medical bills. It will also cover lawsuits should you be sued due to damage to one’s person or property for which you are responsible. So if your child hits a baseball into your neighbors stained glass window, guess what? Your renter’s insurance policy will cover the damages.

Additional Living Costs

If the unthinkable does happen and the event is covered under your Renter’s Insurance policy, then renters insurance can pay the costs of living. If you are without a place to live, then hotel bills and meals will be reimbursed until you are able to move back in.

Collections, Artwork & Expensive Jewelry

If you have an expensive collection, valuable artwork, costly jewelry, or any other assortment of pricey items (sound equipment, guitars, drum set, video games, etc), then you’ll probably need to get an additional rider or floater to cover these items. This is known as Scheduled Personal Property coverage.

You might be surprised to learn that basic policies usually only cost about $20 extra per month. Call (800-400-6394) or contact us today for an estimate on how much a renter’s insurance policy will cost you.


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