Renters Insurance
Coverage For Personal Property And Liability
About Renters Insurance
A renters insurance policy is about protecting what’s important. This may be clothing, a laptop, jewelry, and personal property.
What Does Renters Insurance Cover?
What You Need To Know
A renters policy may cover personal property against theft or damage subject to the limits and deductibles selected. The coverage applies even when one is away from home.
For a small additional premium, one can choose to carry full value coverage on their personal property, which ensures that they will be paid the full replacement cost of items that are damaged or stolen without deduction for depreciation.
A renters insurance policy also protects policyholder’s and their family members against bodily injury and property damage liability claims and any litigation that may result subject to the limits selected.
In addition, one can select medical payments coverage which will pay for medical expenses incurred by a visitor who is injured at the residence regardless of fault. Various limits are available.
What People Are Saying
FAQ
What does renters insurance cover?
Renters insurance can cover personal property against theft or damage, personal liability for bodily injury and property damage claims, and medical payments for visitors injured at your residence. Coverage for personal property typically applies even when you’re away from home.
Does renters insurance cover my belongings if they're stolen outside of my apartment?
Yes. A renters policy can cover personal property against theft or damage even when you are away from home, not just when the loss occurs inside your rental unit.
What is full value coverage on a renters insurance policy?
For a small additional premium, you can elect full value coverage on your personal property. This ensures you are paid the full replacement cost of items that are damaged or stolen without any deduction for depreciation, rather than receiving a lower actual cash value settlement.
Does renters insurance include liability protection?
Yes. A renters insurance policy protects you and your family members against bodily injury and property damage liability claims, including any litigation that may result, subject to the limits you select and policy limitations.
Does renters insurance cover medical bills for guests injured in my home?
Yes. You can add medical payments coverage to your renters policy, which pays for medical expenses incurred by a visitor who is injured at your residence regardless of who is at fault. Various limits are available.
Do college students need their own renters insurance policy?
Generally yes. Most insurers require students living away from home to carry their own renters policy, particularly for liability protection. While some homeowners policies offer limited content coverage for students, that typically does not extend to full liability protection.
Can I bundle renters insurance with auto insurance to save money?
Yes. Bundling renters and auto insurance together typically triggers a multi-policy discount on both policies. In many cases, the combined cost ends up being close to what you’d pay for stand-alone auto insurance alone, effectively making the renters coverage very affordable.
Informational statements regarding insurance coverage are for general description purposes only. Read our disclaimer.
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