Common Renters Insurance FAQs
What does renters insurance cover?
A typical renters insurance policy includes three types of coverage: personal property, personal liability, and loss of use. In simple terms, personal property covers the cost of repairing or replacing personal belongings like clothes, furniture, and electronics. Personal liability covers injury to someone else or damage to someone else's property if you're found responsible. Loss of use covers additional living expenses, such as hotel bills, if the residence you rent becomes uninhabitable. All coverage is subject to your policy's limits.
How much renters insurance coverage do I need?
There are a few factors to consider when choosing how much renters insurance coverage is right for you. Start by calculating the value of your personal belongings, how much liability coverage you need, and if additional coverage is required based on your circumstances. On average, a standard renters insurance policy is pretty affordable, ranging from $10-$30 per month. Speak with an agent today to find the coverage that's right for you.
What is not covered by renters insurance?
While a standard renters insurance policy covers most accidents, it doesn't cover everything. You may need additional coverage for instances of flood, earthquakes, sinkholes, bed bugs/other pests, theft of certain valuables, and items that aren't yours/belong to a roommate.
Is my roommate covered by my renters insurance?
If you live with a roommate, they will need their own renters insurance policy to be protected. Most insurance companies won't allow roommates to be covered on the same policy unless they are related or married. Check with an insurance agent for the best coverage recommendations.