Protect Your Belongings

Renters insurance typically covers your personal property (furniture, electronics, clothing), liability protection if someone is injured in your rental, additional living expenses if your home becomes uninhabitable, and medical payments for guest injuries. It does not cover the building structure itself - that's covered by your landlord's insurance.

The average cost of renters insurance ranges from $12-$20 per month, or about $144-$240 per year. The exact cost depends on factors like your location, coverage amount, deductible, and any discounts you qualify for. Most renters pay less than $1 per day for comprehensive coverage.

Yes, you still need renters insurance. Your landlord's insurance only covers the building structure and their liability. It doesn't protect your personal belongings, provide liability coverage for your actions, or cover your additional living expenses if you need to temporarily relocate.

Most financial experts recommend coverage equal to the replacement value of all your belongings. Create a home inventory to estimate this amount. Typical coverage ranges from $15,000-$50,000 for personal property, with liability coverage of $100,000-$300,000. Many policies start with basic coverage that you can adjust based on your needs.

Common exclusions include floods, earthquakes, normal wear and tear, intentional damage, certain high-value items (which may need separate coverage), roommate's belongings (unless specifically covered), and damage from pests or vermin. Check your specific policy for detailed exclusions.

Yes, you can still get renters insurance with bad credit, though it may affect your premium. Insurance companies use credit scores as one factor in determining rates, but they can't deny coverage based solely on credit score in most states. Shop around as different insurers weigh credit differently.

Most renters insurance policies can be purchased and activated immediately online or over the phone. Coverage typically begins the same day or within 24 hours of purchase. The application process usually takes just 10-15 minutes, and you'll receive your policy documents via email.

Each roommate typically needs their own renters insurance policy, as policies generally only cover the named insured and their immediate family. Some insurers offer 'roommate coverage' options, but separate policies ensure each person's belongings are protected and avoid potential liability issues.

Most renters insurance policies provide worldwide coverage for your personal property, meaning items stolen from your car, workplace, or while traveling are typically covered. However, there may be limits for off-premises coverage, so check your policy details.

To file a claim, contact your insurance company immediately after an incident. Most insurers offer 24/7 claim reporting via phone, mobile app, or website. Document the damage with photos, make a list of damaged/stolen items, and keep receipts. An adjuster will investigate and guide you through the process.