What Is Renters Insurance?
Renters insurance protects your stuff and your liability inside a place you rent. Your landlord’s insurance covers the building; it covers zero of your belongings. If fire, theft, or a burst pipe destroys your things, renters insurance pays to replace them. Typically $15–$30 per month.
What Does Renters Insurance Cover?
Personal property: your belongings against fire, theft, vandalism, water damage. Choose replacement cost over actual cash value.
Liability: typically $100,000 — covers injuries to guests or damage you cause others.
Additional living expenses: hotel and meals if your place becomes unlivable.
What It Doesn’t Cover
Flood or earthquake damage (separate policies), your roommate’s belongings, or damage from negligence. High-value items (jewelry, art) have sub-limits — schedule them separately.
Do Landlords Require It?
Many do — often with a $100,000 liability minimum. Even when not required, you still need it since landlord policies never cover tenants’ property.
Frequently Asked Questions
How much is renters insurance per month?Typically $15–$30/month.
Does it cover theft outside my home?Usually yes — a laptop stolen from your car is generally covered.
Do I need it if my landlord has insurance?Yes. Landlord policies cover the building only.
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