What are the different types of coverages offered on a renters insurance policy?
The standard coverages on a typical renters insurance policy are personal property, personal liability, medical payments to others, and loss of use.
Personal property coverage covers your possessions—including electronics, clothing, and furniture—in case of loss or damage. Your possessions may be covered even if you're away from home when the loss occurs. For example, if someone steals your laptop from your car, your renters insurance may pay to replace the laptop, up your policy's limits and minus your deductible.
Your policy's personal property coverage may cover personal possessions, damaged from a covered peril, from the following categories
- Electronics (TVs, Blu-ray/DVD players, computers, etc.)
- Toys/other games (arcade systems, pool tables, ping-pong tables, etc.)
- Tools/power equipment
- Appliances you brought into your place (refrigerators, washers, dryers, etc.)
Personal liability coverage may provide protection if a claim or lawsuit is brought against you for bodily injury or property damage that you may be responsible for. For example, if a visitor trips over your rug and is injured, liability coverage may provide compensation up to your policy's limits for their injuries and provide you with legal defense if you are sued.
Medical payments to others
Medical payments to others may provide coverage if there's bodily injury due to an occurrence. For example, suppose a visitor is injured and requires an x-ray to determine if her leg is broken. This coverage may pay for her medical costs, up to your policy's limits.
Loss of use
Loss of use coverage may pay for additional costs you incur to maintain your normal household standard of living while your rental home is being repaired or rebuilt due to a covered loss. For instance, if a fire makes your rental home not suitable or fit to live in, additional living expense within your loss of use coverage may pay for a short-term rental, a storage unit for your belongings, and increased food bills.
While these coverages are common on most renters insurance policies, some providers may offer optional coverages, including personal injury and water backup. Learn more about the types of renters insurance coverages and how renters insurance works.
What does renters insurance not cover?
Renters insurance typically won't cover normal wear and tear, or damage or losses that occurred before you bought the policy. Your renters insurance policy also won't cover damage and vandalism to the dwelling (which is your landlord's responsibility) or your roommate's possessions if they aren't listed as a named insured on your policy. Contact your insurer to see if you're able to list your roommate on your renters insurance policy.
Certain natural disasters, including earthquakes and sinkholes, are also typically not covered by standard property insurance, regardless of whether you rent or own. Floods typically aren't covered, even when they result from another covered event such as a severe rainstorm. You may purchase a separate flood insurance policy from the National Flood Insurance Program or a private insurer.
Get the right renters insurance coverage for you
Do I need renters insurance?
Renters insurance isn't legally required, though certain apartment complexes and landlords may require it. Even when optional, it's a good idea to cover what you've spent a lifetime accruing. The average Progressive rental policyholder has $24,278 in personal property coverage.* If you were robbed or lost all your clothes, furniture, and everything else in a fire, your landlord is not responsible for your belongings.
What does renters insurance cover?
Renters insurance covers personal property, personal liability, medical payments and additional living expenses or loss of use, up to the limits of your policy. Learn more about what renters insurance covers and the types of renters insurance coverages.
What does renters insurance not cover?
Damage to the structure of your rental home or unit won't be covered under a renters policy. Your landlord's insurance policy typically covers damage to the dwelling's roof, ceiling, and walls, caused by things like bursting pipes and vandalism.
How renters insurance is priced
These factors and more can impact your cost for renters insurance:
- Location: A safer area with less crime generally means a lower cost.
- Coverage limits: Selecting the lowest limits that accurately cover the value of your belongings and assets can help lower your cost.
- Number of units in your building: More units often means a lower price.
Renters insurance FAQs
Will renters insurance cover pets?
Depending on your policy, your renters insurance liability coverage may pay for injuries or damages your pet causes to others, but it generally won't cover damage to the property you rent caused by your pet.
Are termites and other pests covered by renters insurance?
No, renters insurance doesn't typically cover damage caused by pests or extermination costs. However, mice, bed bugs, and other pests may be your landlord's responsibility.
Is property in self-storage units covered by renters insurance?
Renters insurance may cover personal property stored in self-storage units, but the coverage limits are often much lower. Learn more about how renters insurance covers property in self-storage units.
How does renters insurance work with roommates?
If you have roommates, renters insurance won't cover their property, personal liability, or temporary living expenses unless they're on your policy. Whether you can add your roommate to your policy may depend in your state and provider. Learn more about renters insurance with roommates.