What Does Renters Insurance Cover?

Renters insurance covers your personal belongings in case of thievery or a similar event or if a third party gets injured on the premises.

If you’re renting an apartment, condo, or house, and looking to obtain a renters insurance policy to protect yourself when you need it the most, you are in the right place. Insurance Geek agents have dissected renters insurance for you in this comprehensive guide.

Below, we’ve covered all the questions that may interest you, including:

  • What does renters insurance cover?
  • What’s the best way to secure your most valuable items, such as jewelry, furniture, and appliances?
  • How much will you pay for your renters insurance policy?
  • Which insurance company has the best and cheapest renters insurance?
  • How to file renters insurance claims?

On top of all of that, we’ll help you find the best renters insurance premium – for free – with our quote calculator tool. Let’s begin!

What is Renters Insurance?

Renters insurance protects you against everything that’s not covered by your landlord: You’re insured when it comes to your personal belongings in case of theft or a similar event or if another person is injured while they’re visiting.

Below, you can read more about every type of coverage you might find in your renters policy and find out what’s covered. But first, you should understand the notion of peril.


Peril” refers to anything that could damage your personal property. In the insurance world, we also call it a “loss.”

In the event of a covered loss, i.e., a peril stated and covered in your policy, you can file a claim for the damage and receive money so that you don’t have to pay out of your pocket.

Here’s a list of the most common perils you’ll find covered in a renters insurance policy:

  • Fire
  • Lightning
  • Hail
  • Wind damage
  • Smoke
  • Snow
  • Theft or vandalism

If a peril that could possess a threat to your property isn’t covered in your renters insurance, you can obtain additional policies (also known as endorsements or add-ons) to ensure you’ve got everything you need to protect yourself against any possible damage.

You’ll find which perils are covered on your policy’s declarations page. An agent at Insurance Geek can help you revise your policy and assess whether all the perils you need are covered and suggest any additional coverage in case you need it.


The deductible is the amount you pay before your insurance policy starts to pay when damage occurs.

Generally, a lower deductible means a higher premium, and vice versa, so you should balance the two according to your needs and budget. We can help you create a tailored plan for your renters insurance.

How to File Renters Insurance Claims

When you face damage due to a covered loss, you can file a claim to your insurance company.

You’ll first need to record all about the accident in order to support the claim: for example, in the event of a theft, you’ll want to call the police and report to them what’s been missing.

The next thing you should do is to contact your insurance professional as soon as possible. Some companies require you to call them, while some allow you to use an app.

An insurance representative will provide you with all the additional info, including what documents you’ll need and how to proceed with the claim.

What Does Renters Insurance Cover?

The sample breakdown below outlines what property or belongings are typically covered in a renters insurance policy.

Bear in mind that coverage and policy limits will vary with different policies. Still, the info you’ll find here is relevant for most renters policies.

Personal Property Damage Coverage

Your landlord’s insurance policy will cover their building and apartment, but will not account for your personal belongings in the event of theft, fire, or another accident. Your personal property damage coverage will account for this.

Whether you’re replacing priceless family heirlooms, electronics, furniture, or other items such as jewelry, personal property coverage allows you to replace what’s lost. Your agent will work with you to determine what limits are sufficient for you based on itemizing your belongings.

In case the limits for your personal property belongings in the renters insurance policy are not enough, you can get additional protection for high-value items, e.g., jewelry, antiques, collectibles, and so on. For instance, Nationwide has their Valuables Plan policy, while Safeco protects you with their Valuable Articles Coverage.

Personal Liability Coverage

A landlord relies on a tenant’s rental policy to cover any damage to the property during the tenancy, including the liability expenses.

Whether the damage is minor or catastrophic, ensuring there’s enough coverage to pay for liability expenses can save plenty of restless nights.

In addition to theft, fire, or vandalism, other accidents can happen and you may face legal fees. All of this is covered by your personal liability coverage.

For instance, a person may get injured on your property (in the landlord’s apartment). If they decide to sue you, your personal liability coverage will cover the legal defense bill and any other costs incurred.

Loss of Use Coverage

When disaster strikes or home repairs are needed, loss of use coverage funds in your renters insurance can assist you in terms of paying for unexpected living expenses.

For example, if damage to the home results in loss of use of a kitchen, this coverage can pay for meals outside the home until the issue is fixed. If the tenant can’t dwell in the home for whatever reason, the hotel bill and transportation bill may be covered.

Loss of use can be incredibly helpful when the entirety of the home or certain functional parts are inaccessible for any number of reasons and you face additional living expenses.

Medical Payments Coverage

In addition to liability, your renters insurance also covers medical payments to an injured person.

If an injury occurs on the property that the tenet is found liable for, this part of the coverage pays for medical bills and other associated costs. In other words, if an insured tenant is found legally liable for harm to someone else on the property, this portion of the policy kicks in.

Thus, personal liability and MedPay help you pay for others’ expenses in the event of an injury.

How Much Will I Pay for My Renters Insurance Policy?

There are multiple factors that determine your renters insurance premium:

  • The insurance company you choose
  • Coverage limits
  • Your location and ZIP code
  • Previous claims
  • Discounts. You can always bundle multiple policies and save up on your renters insurance!

What is Not Covered Under Renters Insurance?

While your renters insurance covers the majority of the things you need for your condo or apartment, you might want to consider other types of insurance that will assist you.

For instance, if you own a vehicle, you’ll need car insurance, also known as auto insurance, to drive legally on the road. We can get you the cheapest car insurance quotes for any state if you use our car insurance calculator tool.

Also, if you own a business, companies offer a variety of business policy options to protect you and your employees.

Life insurance is another important option to consider in addition to renters insurance.

Supplementary Renters Insurance Coverages

Sometimes, your renters insurance policy might not cover all the circumstances you want to be protected in, such as earthquakes, and you’ll need to obtain additional coverage or coverages.

These optional coverages might include:

  • Debris removal
  • Building additions
  • Credit card insurance
  • Mechanical and power failure insurance
  • Earthquake insurance (natural disasters such as earthquakes aren’t covered in renters insurance policies)
  • Fire insurance, if it isn’t included
  • Flood insurance (has to be purchased separately)
  • Bed bugs and pests
  • Water damage

Additionally, you can extend the limits of your policy to ensure that it covers all you need.

How to Get Renters Insurance: Cheapest Renters Insurance Quote for Any ZIP Code

Want to get access to the cheapest renters insurance quote and obtain affordable protection?

We’ll help you find the right insurance company and renters policy for you.

We are partnered with over 20 renters insurance carriers who are the best companies on the market. And we generate the quotes from them for you!

The whole process is online and free. All you have to do is fill in some basic info about yourself – such as your ZIP code – and we’ll contact the carriers to calculate the price of your renters insurance.

We promise not to call you or spam your inbox. We only ask for your info to calculate the price of insurance for you.

An Insurance Geek agent will guide you through the shopping process if you decide to get insured with us, and we’ll help you save money with different types of discounts.


Q: Does Renters Insurance Cover Water Damage?

A: No, in the majority of the cases, the basic renters insurance will not cover water damage. Insurance companies offer optional water backup or water damage coverage that is different from flood insurance and covers sewer and drain backup.

Does Renters Insurance Cover Floods?

A: Renters insurance does not cover floods or other natural disasters, and you would have to obtain flood insurance separately, through the National Flood Insurance Program (NFIP). Alternatively, water damage policies offer protection from sump overflow and drain backups.

Minimum Renters Insurance Coverage

A: The minimum renters insurance coverage amount for you equals at least the value of your belongings (TV, stereo, furniture, jewelry, clothes, etc.) and a minimum of $100,000 in personal liability coverage. Some of our clients decide to go with higher limits for liability – up to $500,000 – for only a few dollars added per month, which protects them against any possible high-cost lawsuits.

Does Renters Insurance Cover Theft on Vacation?

A: Yes, it does. Wherever you find yourself – at work, on vacation, or at home – renters insurance will protect your personal belongings from theft.

Does Renters Insurance Cover Liability?

A: Your renters insurance does cover personal liability that kicks in if a guest is injured at your place or you damage someone else’s property and covers legal expenses from lawsuits or damages.

Does Renters Insurance Cover Broken TV or Wear and Tear?

A: Your renters insurance will cover broken TV if the damage is caused by a covered peril (i.e., named risks in your policy). If it is caused by wear and tear or another accident that isn’t covered (like purposeful damage), then renters insurance won’t cover it.

Does Renters Insurance Cover Car Break-Ins?

A: Renters insurance does cover the theft of your belongings inside the car, but it doesn’t cover your actual car damage. For this, you would need to get comprehensive car coverage.

Does Renters Insurance Cover Burglary?

A: Yes, renters insurance does cover burglary as long as it is a named peril in your policy and will reimburse you for the lost items.

Does Renters Insurance Cover Theft Outside the Home?

A: Yes, renters insurance covers theft both outside and inside the home. This means that it has got you covered even in case of car theft or if someone steals your personal belongings somewhere else, e.g., in a hotel room.

Does Renters Insurance Cover Damage to Property?

A: Renters insurance covers damage to your personal property – so all of your belongings that can get damaged or stolen.

How Does Renters Insurance Work after Fire?

A: In case of fire, you will be reimbursed for your personal property (e.g., the cost of your ruined appliances and clothes), but it will not pay for the damage of the structure itself – this is covered by your landlord’s policy.

How Much Renters Insurance Should a Landlord Require?

A: On average, landlords require $100,000 in personal liability coverage, $1,000 in medical payments, and $30,000 in personal property, but it all depends on one’s specific case.

Does Renters Insurance Cover Tenant Damage?

A: Renters insurance covers the personal items of the tenant and its liability coverage that result due to a peril, but any accidental or malicious damage isn’t covered (e.g., red wine spilled on a carpet).

Do I Need Renters Insurance for an Apartment?

A: All tenants need renters insurance for their most valuable belongings and as protection when they rent an apartment. These expenses will not be covered by your landlord’s policy, and your insurance can save you a tremendous amount of money. Also, many landlords will require tenants to have renters insurance to avoid potential disputes.

How Does Renters Insurance Payout Work?

A: Depreciation is a factor in ACV policies. This means that claims pay out the cost of the item, minus the depreciated value since its purchase. RCV pays out the amount required to replace get the same or similar item, and depreciation is not a factor. Your agent can give you more information on this, but it boils down to the fact that you’re paying and getting money for the value of your belongings at their present state, and not for their market value.

Does Renters Insurance Cover Storage Units?

A: Renters insurance does cover all of your belongings kept in a storage unit – in fact, it covers your belongings no matter where they are located, as long as their value is within the policy’s limits.

Renters Insurance Quote Calculator Tool

At Insurance Geek, we are united under the mission of finding you the best quote on your renters insurance.

We want to connect you with the right insurance company for you by allowing you to compare quotes from multiple insurers and calculate how much you will pay. The whole process is completely free and online.

Regardless of your ZIP code and type of apartment, we’ll help you cover yourself and your belongings if the unexpected happens.

Based on your specific situation, we’ll also assess whether there’s a way to save money with a discount. So, get in contact with one of our agents today and tell us about your situation – we can’t wait to get you covered!