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Renters Insurance

The Benefits of Renters Insurance

Renters insurance is often overlooked. But it’s just as important as auto insurance for your car, or health insurance for your body. If you rent your living space, then the landlord’s insurance doesn’t cover your belongings. The landlord’s insurance provides little to no protection for you.
But renters insurance provides coverage for your belongings, and provides liability if someone is injured while on the property.

This coverage is for anyone who rents a house, condo, townhome, apartment, or mobile home. As a renter, you’re not responsible for insuring the landlord’s property. But you are responsible for insuring your personal belongings.

The Details

When you purchase a policy, you pay a monthly premium. And the policy will pay in the event of damage, destruction, or theft of your belongings. You will probably also have to meet a deductible before the insurance pays you.

Types of Coverage

The 3 basic types of coverage are personal possessions, liability, and additional living expenses.
Covered events include damage from fire, vandalism, theft, or other situations in which your belongings are damaged, destroyed, or stolen.

Liability pays for medical bills when someone is injured in your home. It may also cover other expenses, depending on your policy. And additional living expenses provide coverage when your home is uninhabitable. It pays for temporary housing while your space is repaired.


Renters insurance is beneficial because it saves you from paying out-of-pocket to replace your belongings. It also helps pay medical costs when someone is hurt, or when you or a family member damages or destroys someone else’s belongings.