Your landlord or a property management company may require you to carry some renter insurance coverage.
Tips for buying renter insurance
Before choosing coverage, keep in mind that:
- Different companies may have different policies and prices.
- Some companies only offer renter insurance if you have other insurance with them, such as auto coverage.
- Your rental or lease contract may require you to have a specific type of coverage.
Buying additional insurance
In addition to renter insurance, you may want to buy one of the types of coverage below.
Full-value contents coverage
Also called replacement cost coverage, this pays the actual cost of replacing your property with a similar product.
Earthquake and flood insurance
Learn more about earthquake insurance and flood insurance.
Scheduled personal property
This insures:
- Jewelry
- Furs
- Cameras
- Musical instruments
- Silverware
- Guns
- Fine art
- Postage stamps
- Coin collections
- Some sporting goods
Increased limits for business property
This protects the property you use to run your business.
Business merchandise coverage
This covers items you sell or buy.
Incidental business liability
If you have a home business, this protects you from business-related claims.
Volunteer coverage
This protects you from claims if you cause damage while volunteering.
Outboard-motor boat insurance
This covers damage to your insured boat or damage you cause to another boat.
Renter insurance for college students
If you rent an off-campus apartment or house, consider buying renter insurance. It protects your personal property if it gets damaged, destroyed or stolen. This includes coverage for:
- Computers
- TVs
- Audio devices
- Bicycles
- Furniture
If you're a parent with children on your home insurance policy, their personal property may not be covered while they're at college. Check your policy or contact your insurer to see if your homeowner insurance protects them.