RENTERS INSURANCE

Coverage for the Place You Rent—and the Things You Own

Renting a home, apartment, or condo does not mean you have nothing to protect. Your furniture, electronics, clothing, appliances, and personal belongings can represent a substantial investment.

Renters Insurance is designed to help protect your personal property and provide liability coverage for certain covered situations, while potentially helping with additional living expenses when a covered loss makes your rental temporarily uninhabitable.

WHAT DOES RENTERS INSURANCE COVER?

A typical renters insurance policy may provide several important types of protection:

• Personal Property Coverage

• Personal Liability Coverage

• Additional Living Expenses

• Medical Payments to Others

The exact protection available depends on the insurer, policy, limits, exclusions, and deductible.

PERSONAL PROPERTY PROTECTION

Your landlord’s insurance generally protects the building—not the belongings you keep inside it.

Renters insurance may cover eligible personal belongings following certain covered events, such as:

• Fire or smoke damage

• Theft

• Vandalism

• Certain water damage

• Wind or hail damage

• Other covered causes of loss

Your belongings can include furniture, clothing, electronics, kitchen items, appliances, and other personal possessions.

YOUR EVERYDAY BELONGINGS CAN ADD UP

It is easy to underestimate how much it would cost to replace everything you own.

Think about the combined value of your:

Living Room
Sofa, television, tables, electronics, decorations, and other furnishings.

Bedroom
Bed, mattress, clothing, shoes, furniture, and personal items.

Kitchen
Small appliances, cookware, utensils, and other household equipment.

Home Office
Computer, monitor, printer, desk, and other equipment.

Creating a home inventory can help you understand how much personal property coverage you may need.

LIABILITY PROTECTION

Renters insurance can also provide personal liability protection for certain covered claims.

For example, if a visitor is injured at your rental and alleges that you are responsible, liability coverage may help with eligible expenses such as:

• Legal defense costs

• Settlements

• Judgments

• Certain property damage claims

Coverage is subject to the policy’s terms, conditions, exclusions, and limits.

ADDITIONAL LIVING EXPENSES

What happens if a covered event makes your rental temporarily unlivable?

If your policy includes applicable additional living expense coverage, it may help pay certain increased costs while your rental is being repaired or is otherwise unavailable.

Depending on the policy, this could include eligible expenses for:

• Temporary accommodation

• Additional food expenses

• Certain transportation costs

• Other necessary increased living expenses

MEDICAL PAYMENTS TO OTHERS

Some renters insurance policies include medical payments coverage for certain injuries suffered by guests.

This coverage may help with eligible medical expenses without necessarily requiring you to be legally responsible for the injury.

It is generally subject to its own coverage limit and policy conditions.

WHAT CAN RENTERS INSURANCE PROTECT?

Furniture & Home Furnishings

Your policy may cover eligible:

• Sofas

• Beds

• Tables

• Chairs

• Desks

• Cabinets

• Other furnishings

Electronics

Depending on your policy, eligible electronics may include:

• Laptops

• Computers

• Televisions

• Tablets

• Cameras

• Gaming systems

• Audio equipment

Clothing & Personal Effects

Coverage may also apply to eligible:

• Clothing

• Shoes

• Bags

• Accessories

• Household linens

• Personal belongings

PROTECTING VALUABLE ITEMS

Some valuable possessions may have special coverage limits under a standard renters policy.

These may include:

• Jewelry

• Watches

• Fine art

• Collectibles

• Coins

• Certain electronics

• Musical instruments

If you own high-value property, ask about whether additional coverage or scheduling may be appropriate.

DOES RENTERS INSURANCE COVER BELONGINGS AWAY FROM HOME?

Some policies provide coverage for eligible personal property while temporarily away from your rental.

That may be useful when you’re:

• Traveling

• At work

• Visiting family

• Away at school

• Temporarily storing belongings elsewhere

However, special limits and conditions can apply, especially to valuable items.

REPLACEMENT COST OR ACTUAL CASH VALUE?

When choosing renters insurance, pay attention to how your belongings are valued following a covered loss.

Replacement Cost

This generally refers to the cost of replacing eligible property with a similar item, subject to policy terms and limits.

Actual Cash Value

This generally considers depreciation when determining the value of eligible damaged or stolen property.

The difference can affect the amount you receive after a covered claim.

HOW MUCH RENTERS INSURANCE DO YOU NEED?

The right amount depends largely on the value of your belongings and the liability protection you need.

Start by making a home inventory.

List your:

• Furniture

• Clothing

• Electronics

• Appliances

• Jewelry

• Computers

• Sporting equipment

• Kitchen items

• Children’s belongings

• Other valuable possessions

For expensive items, keep receipts, photographs, serial numbers, and other proof of ownership when available.

WHAT RENTERS INSURANCE MAY NOT COVER

Renters insurance does not automatically cover every type of loss.

Depending on the policy, exclusions or limitations may apply to:

• Flood damage

• Earthquake damage

• Normal wear and tear

• Maintenance problems

• Certain pest damage

• Intentional damage

• Certain business property

• Certain high-value belongings

• Losses above applicable policy limits

Additional insurance or endorsements may be available for certain risks.

FLOOD DAMAGE IS DIFFERENT

A standard renters insurance policy generally does not cover flood damage.

If you live in an area where flooding is a concern, separate flood insurance may be worth considering to protect eligible personal belongings.

RENTERS INSURANCE FOR ROOMMATES

Sharing a rental does not automatically mean every roommate has the same insurance protection.

Coverage can depend on:

• Who is named on the policy

• Your relationship with the other occupants

• The policy wording

• Ownership of the property

• Applicable coverage limits

Each roommate should understand whether their belongings and liability exposure are adequately protected.

IF YOUR LANDLORD REQUIRES INSURANCE

Some landlords and property managers require renters insurance as part of the lease.

Your lease may specify:

• Minimum liability limits

• Required coverage

• Proof of insurance

• Policy conditions

• Other insurance requirements

If insurance is required by your lease, make sure your policy meets the stated requirements.

HOW TO REDUCE RISKS IN YOUR RENTAL

Insurance is only one part of protecting your home and belongings.

You can also:

• Install and maintain smoke detectors

• Lock doors and windows

• Use appropriate security devices

• Protect electronics from power surges

• Report leaks and maintenance issues promptly

• Keep valuable possessions secure

• Maintain an updated home inventory

• Store important documents safely

WHAT TO DO AFTER A COVERED LOSS

If something happens to your rental or belongings:

1. Make sure everyone is safe.
Address immediate safety concerns before dealing with property damage.

2. Prevent further damage when reasonably possible.
Take appropriate steps when it is safe to do so.

3. Document everything.
Photograph or record damaged property.

4. Make a list of affected belongings.
Include approximate values and relevant purchase information.

5. Report theft when appropriate.
A police report may be necessary for certain claims.

6. Notify your insurer.
Report the loss and follow the claims instructions.

7. Keep receipts and documentation.
Save estimates, receipts, reports, and other relevant records.

RENTERS INSURANCE VS. LANDLORD INSURANCE

These policies serve different purposes.

Landlord Insurance generally protects the landlord’s building and certain property and liability interests.

Renters Insurance generally protects the tenant’s eligible personal belongings and provides certain liability and additional living expense coverage.

Your landlord’s policy generally does not replace the need to insure your own belongings.

FREQUENTLY ASKED QUESTIONS

Is renters insurance required?

Not in every situation. However, your landlord or property manager may require it as a condition of your lease.

Does my landlord’s insurance cover my belongings?

Generally, no. A landlord’s insurance policy is primarily designed to protect the landlord’s property and interests.

Does renters insurance cover theft?

Many policies cover certain theft losses, subject to the policy’s deductible, limits, exclusions, and conditions.

Does renters insurance cover water damage?

Some types of water damage may be covered, while others may be excluded. Flood damage is generally excluded from standard renters insurance.

Does renters insurance cover my laptop?

A laptop may qualify as personal property, although special limits or conditions may apply.

Can renters insurance cover my belongings outside my home?

Some policies provide coverage for eligible personal property away from the rental, subject to applicable limits and conditions.

Can I get renters insurance if I live in an apartment?

Yes. Renters insurance is designed for people renting apartments, houses, condos, and other residential properties.

PROTECT WHAT YOU OWN WHILE YOU RENT

You may not own the building, but you still have a lot to protect.

From your furniture and electronics to your clothing and personal belongings, renters insurance can provide valuable protection against certain unexpected events. Liability and additional living expense coverage can provide additional support when eligible covered situations arise.

SecureWay Insurance can help you explore your options and better understand the coverage options available for your rental and the protection that may be appropriate for your circumstances.

Renters insurance coverage, premiums, deductibles, limits, exclusions, eligibility requirements, and claims procedures vary by insurer, location, policy, and individual circumstances. This content is provided for general informational purposes only and does not guarantee coverage or benefits. The applicable insurance policy and endorsements control the actual terms of coverage.