Renters Insurance

Being a renter has some perks: no property taxes, no snow removal, no yard maintenance.

But what would you do if you returned from work, or a vacation, and all your possessions in your apartment had been destroyed by a fire? Or if there was a break-in and some of your belongings were stolen?

You may think that the building's insurance will take care of all the damage caused by a fire.

It doesn’t.

Your building owner is only required to carry insurance for the structure. Usually, covering everything outside “your walls” is his responsibility, while everything inside is yours to cover.

This means all your furniture, electronics, appliances, clothing, and jewelry are uninsured unless you purchase a renter’s policy.

Is renters insurance necessary?

Even if your landlord doesn't require you to carry renters insurance, it is always a good idea to make sure you and your home are fully protected.

Have you thought about how much would it cost to replace everything in your home? It's probably more than you think. Buying a new bedroom set, clothing, or a computer can add up quickly. 

A good renters insurance policy will cover those costs for you, AND it is far less expensive than replacing all of your belongings. Most renters policies cost less than $20.00 a month to insure everything in your home.

Besides covering all of your stuff, renters insurance protects you from liability if someone hurts themselves while they’re in your home. So in the unfortunate event you’re sued, and the judgment goes against you, the renters policy will cover you up to the policy limits.

What does renters insurance cover?

Renters insurance can cover virtually all of your personal possessions. Most policies provide coverage for electronic goods and equipment, small appliances, sports equipment, cameras and photography equipment, furniture, clothing, glassware and china, and books. Items such as computers, jewelry, furs, watercraft, and firearms can also be covered with extended protection. Your renters insurance policy will generally include:

  • Personal property protection
  • Family liability protection
  • Guest medical protection
  • Additional living expenses
  • Additional protection
  • Temporary housing
  • Liability protection for people on your property
  • Lawsuits where you are held responsible for injury to another person or damage to another person's property (whether the incident occurred within your rented residence or elsewhere)

Again, we encourage all renters to spend just five minutes with a calculator to add up the cost of replacing everything they own. What if you came home tomorrow and your apartment had burned down? Where would you go? How would you pay to replace your clothing, furniture, and appliances? When you ask yourself what renters insurance covers, you can relax and say yes to all of the above.

We're here to help

Our first priority is helping you take care of yourself and your home. If you have any questions about renters insurance or want us to review your existing policy, please do not hesitate to contact us. We are always happy to help.