Frequently Asked Questions about Renters Insurance

Here are the answers to some of the most commonly asked questions about renters insurance.

Doesn’t my landlord’s policy cover everything if I rent my home?

No, landlord policies cover the actual property in which you reside. They do not cover any of your personal belongings or any damage or injury you cause to another person. Whether you rent an apartment or a house, the limits of the landlord’s policy are the same.

What is renters insurance?

Renters insurance protects your belongings in the event of disaster and also affords liability protection. This means that if your belongings were damaged by lightning, fire, vandalism, etc., your policy would reimburse you for your losses. In addition, the liability portion of your policy would cover you in the event that legal action were brought against you for damage you caused inadvertently or for an accident that occurred in your home. For example, if you started a fire through negligence, the other tenants may sue you for damages. Your renters insurance would cover your legal expenses and any judgment against you.

Why do I need renters insurance?

The average person has $20,000 worth of belongings that are not covered by his/her landlord’s policy. That means that if your items were damaged or stolen, you would be out $20,000. With renters insurance, you can insure your belongings for their value, so you would be reimbursed if they were ever stolen, damaged, etc. Renters insurance also protects your assets and pays your legal expenses for lawsuits brought against you. For instance, if someone were to slip on a wet floor in your apartment and sue you for medical expenses and damages, your policy would cover you.

How much coverage do I need?

Think about how much your personal belongings are worth and whether you could afford to replace them. Also ask yourself what you would do in the event a liability lawsuit were brought against you. Once you’ve asked these questions, take an inventory of everything in your home. Write down the items name, when you acquired it, how much it cost, and how much it’s worth presently. Taking photographs can help this type of inventory. Add up the value of all of your items to determine what level of coverage you need.

How do I get renters insurance?

You can apply for renters insurance by clicking “apply now” anywhere you see it on our website. We have a short, easy, and secure application that will take only minutes to fill out. Once you complete your application, we will put you in touch with insurance carriers to give you quotes.

If you have further questions, get in touch with us via our Contact Us page.