For Consumers

How renter insurance works

"I am grateful beyond words that you have assisted me in this resolution...Thank you."
~ A.R.
smiling elderly woman

Renter insurance offers coverage similar to homeowner insurance. It's for people who rent a living space, such as an apartment, condominium, or single- or multi-family home.

The landlord generally buys insurance coverage to protect his or her interest, such as the building, loss of rents, liability, etc. It does not cover your property.

What a standard renter policy includes

Renter insurance is normally a special package that combines coverage for:

Personal liability - Provides protection against claims someone else makes against you.

Premises medical coverage - Pays the medical expenses of others accidentally injured on the property you rent.

Additional living expense - Pays for your living expenses if the living space you rent is deemed unlivable and you have to stay somewhere else temporarily.

Personal property (contents) coverage - Standard renter policies only cover the actual cash value at the time of the loss. Some personal property, like gold or jewelry, has a specific dollar limit that the policy will cover.

The limits in your policy may be less than the value of your property, so you may want to buy additional coverage to cover it.

What renter insurance doesn't cover

It doesn't cover the building you're renting, but it may cover any improvements you add, such as built-in bookshelves or room partitions.