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What Does Renters Insurance Cover (All You Need To Know)

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What coverages do you have with standard renters insurance?

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You must read this as I will tell you all you need to know about your renters insurance coverage! 

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What Does Renters Insurance Cover

Renters insurance will typically cover you for damages or losses resulting from theft, medical expense to others, specific natural disaster events, or bodily injuries sustained in the property you rent.

A renters insurance policy is a type of insurance policy covering renters living in a house, apartment, or rented property.

Just like for any insurance coverage, it’s important that you look at the details of the renters insurance quote or your renters insurance policy to see what’s covered specifically under your policy.

When you have coverage, you should also keep in mind that you’ll need to pay the deductible out of your pocket so the insurance company will cover the repair or replacement cost of a covered loss.

Having said that, let’s look at what a basic and standard renters insurance should cover so you have a better idea.

Personal Property Coverage

The primary reason why a person renting a house, apartment, dorm, or another type of dwelling will consider getting renters insurance is to protect his or her personal belongings, such as:

  • Furniture
  • Homegoods
  • Clothing 
  • Bedding 
  • Electronics 
  • Computer equipment 
  • Appliances 

You’ll have coverage if the loss, damage, or destruction of your property resulted from a covered event or “covered peril” such as:

  • Fire
  • Lightning 
  • Windstorm
  • Hail 
  • Explosions
  • Riots
  • Falling objects
  • Smoke damage
  • Vandalism
  • Theft 
  • Volcanic eruption 
  • Damage from healing systems 
  • Frozen plumbing 
  • Short-circuit caused by appliances 

For example, if your personal property is stolen or lost due to fire for instance, you will have coverage allowing you to pay for the cost of replacing your personal property.

Personal Liability Coverage

Another coverage that you’ll find in basic renters insurance is for your personal liability.

If you were to cause someone damages in your house or someone was to get physically hurt and sustain bodily injuries for which they file a civil lawsuit against you, you will have coverage for personal liability.

For example:

  • Someone falls on the stairs inside your home
  • Someone gets injured on the property 
  • Your dog bites a visitor 

If a person suffers damages on your property, sues you and gets a judgment awarding compensation, then you’ll have coverage for your legal expenses resulting from the lawsuit.

Loss of Use Coverage

The loss of use coverage is a type of coverage allowing you to pay for your living expenses if a covered event prevents you from being able to live in your house or apartment.

If you are unable to live in your apartment due to fire damage, then you will have a loss of use coverage allowing you to pay for another place to stay until the urgent repairs are done.

For example:

  • You may have to live in a hotel for a short period of time 
  • You will have to buy food from outside as you cannot cook at home 
  • You incur more gas costs as you need to drive more 

Medical Payments To Others Coverage

The medical payments to others coverage refers to a type of protection that you get if someone were to get injured in your home or on your property.

If the injured person were to suffer medical expenses (or even funeral costs in the event of death), then the medical payments to others will help cover some of that cost.

For example, imagine that a guest falls over the stairs and gets physically injured and pursues you for it.

This can be an example where your personal liability coverage will come in handy.

What Are The Optional Renters Insurance Coverages

Getting basic renters insurance may be suitable for many.

Keep in mind that if you’d like to get additional protection, with most insurance providers, you may have the option of purchasing additional coverages.

Some of the most common additional optional coverages a renter may want to add are:

  • Additional coverage for high-value items (covering things like jewelry, arts, collectibles etc)
  • Losses caused by sewer or drain backups 
  • Additional coverage for theft found in your car, trailer, boat or another motor vehicle 
  • Losses caused by an earthquake, floods, sinkholes, bed bugs
  • Damages to your car 
  • Your roommate’s property 

Let’s look at a few supplementary coverages you may be able to get.

Debris Removal

Debris removal is additional coverage you can get where your policy will assume the cost of removing debris after a covered loss.

In most cases, the debris removal coverage will be subject to your personal property coverage limits.

Food Spoilage

Food spoilage covers you for the losses that you suffer for refrigerated food you had due to a power loss or other power failure.

Again, this coverage will generally be subject to your total personal property coverage limit.

Building Additions or Alterations

With the building additions and alterations coverage, you will have insurance protection to cover you for damages that you may suffer caused to any of the additions you’ve made to your rented property.

You can also get compensation for alterations, improvements, installations, or fixtures that you added to the rented home or property.

Credit Card And Check Forgery Coverage

Credit card coverage is something useful to have as well as you get protection against unauthorized transactions on your credit card or your debit card.

What Does Renters Insurance Not Cover

A typical renters insurance policy will protect you in three broad categories, namely:

  • Protect the renter personal property 
  • Protect the renter against legal liability or medical bills 
  • Protect the renter’s living arrangements 

Unfortunately, there may be events that will not be considered as a “covered peril” or “insured event” triggering the protection of your renters insurance.

Although you must look at the details of your renters insurance quote or policy to see what’s not covered, in most cases, the following items are not covered:

  • Losses or damages you suffer over and above your personal property coverage limit 
  • Your personal liability over and above your personal liability coverage limit
  • Damage to the structure of the building you are renting 
  • Damages caused by flooding, earthquakes, and skinholes 
  • Property damage caused by pests
  • Items of high value 
  • Damages caused by acts of war or terrorism 

Frequently Asked Questions

Let’s look at the most frequently asked questions relating to what renter’s insurance covers.

What Does My Renters Insurance Cover

The central purpose of getting renters insurance is to protect the renter’s personal property from theft.

Personal property includes nearly everything that you own inside or outside your rental unit, home, condo, apartment, or room.

To have a good understanding of what’s covered in your renters policy, you should see what’s included in the definition of “covered perils”.

In addition to theft, the following events can be considered as a covered peril under your renter’s insurance policy:

  • Damages from fire or lightning 
  • Damages from wind or hail
  • Damages due to explosions
  • Smoke damage
  • Vandalism 
  • Water damage from freezing or leaking plumbing or appliances
  • Damages caused by mold 
  • Damages caused by falling objects 
  • Damage to a storage unit
  • Short-circuit damage caused by appliances 
  • Volcanic eruption 
  • Damage from heating systems 

On top of protecting your personal property, your renter’s insurance will protect you in the following manner as well:

  • Cover you for costs or damages relating to a personal liability lawsuit 
  • Cover your living expenses when your house or apartment is not livable 
  • Cover you for the medical costs suffered by a guest for an accidental injury 

What Items Are Not Covered By Renters Insurance

Although renters insurance provides you with some protection, it does not cover you for everything you own.

Here is a list of items that are typically not covered by basic renters insurance:

  • Jewelry 
  • Coin collection
  • Art and art collection
  • Expensive watches 
  • Damages caused by floods
  • Damages caused by earthquakes 

Does Renters Insurance Cover Bedbugs

In most cases, your renters insurance will not cover you for bedbugs or the removal of bedbugs.

The reason why bedbugs are not covered is that insurance companies consider that a renter should take standard precautions and do proper home maintenance to prevent pest infections.

Does Renters Insurance Cover Flooding

In general, your renters insurance will not cover you for damages caused by floods.

Floods are events where you have damages caused by water coming from sources outside your property or from the underground.

Do not confuse flood damage with water damage referring to damages caused by water originating from inside your rental property like a plumbing issue.

Does Renters Insurance Cover Living Expenses

As part of your renters insurance, you generally have the loss of use coverage.

The loss of use coverage provides you with financial protection by covering your living expenses if you are forced out of your rental unit due to a covered disaster.

Your living expenses can include hotel, temporary housing, restaurants, meals, gas, or other related expenses.

Does Renters Insurance Cover Moving Costs

If you are forced to move out of your property due to the occurrence of a covered peril, then your moving expenses will be covered under your renters policy.

On the other hand, regular moving expenses are not covered.

Does Renters Insurance Cover Disasters

In most cases, renters insurance will not cover you for disasters like floods, sinkholes, or earthquakes.

If you live in an area where there is a particular risk associated with natural disasters, you should make sure that you get additional coverage under your policy.

How Much Personal Property Coverage Do I Need

In most cases, the main reason why people subscribe to renters insurance is to protect their personal property in their homes.

The renters insurance helps protect your personal property from damage, loss, or theft.

The best way to assess how much personal property coverage you really need is to perform an inventory of your assets.

Here is how you can do your home inventory:

  • Put together a list of your personal property
  • Indicate how much you purchased the property and how much they are worth today
  • Calculate the total purchase cost along with your total market value 
  • To that amount, add a buffer of $5,000 to get a ballpark idea of how much coverage you need 

What Does Renter Insurance Cover Takeaways 

So there you have it folks!

What does apartment insurance cover?

In general, renters insurance will cover you for damages or losses suffered as a result of the theft of your personal property in a rented home, personal liability damages, medical expenses paid by your guests, along with your living expenses if you temporarily cannot live in your home or your home becomes uninhabitable.

Renters insurance covers you in three broad categories:

  • Personal property coverage
  • Liability coverage
  • Loss of use coverage

Personal property coverage is probably the single most common reason why someone will consider getting renters insurance.

To avoid any surprises and to ensure you are making the right insurance coverage decisions, it’s important that you carefully read the terms and conditions of your policy to see what coverages you have.

If you need more coverage, speak with your insurance provider or insurance agent to add scheduled personal property endorsements or other types of endorsements to augment your coverage.

I hope that I was able to answer the question what does my renters insurance cover, provide you with the standard coverages, what’s not covered, and additional aspects you should consider.

Good luck in finding your renters insurance!

Let’s look at a summary of our findings.

What Does Renters Insurance Cover Summary

  • Your standard renters insurance policy will provide you three main coverages: personal property coverage, renters liability coverage, and renters additional living expenses
  • Personal property coverage is what most people are looking for when they think of renters insurance covering things like furniture, clothing, shoes, electronics, appliances, home goods etc
  • Renters liability coverage protects the renter against legal expenses and costs associated with a lawsuit where the incident originated in your rental property 
  • Additional living expenses coverage or loss of use is a type of coverage allowing you to pay for your temporary relocation if a covered peril were to prevent you from living in the home (like fire)
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