Renters Insurance
Your landlord's policy covers the building. It covers nothing of yours.
What is renters insurance?
A common and costly misconception: your landlord's insurance protects you. It doesn't. The landlord's policy covers the building — if a fire, burst pipe, or break-in damages or destroys your belongings, you're on your own without a renters policy.
Renters insurance is one of the best values in all of insurance. For roughly $12–$25 a month, you get tens of thousands of dollars in coverage for your belongings, liability protection if someone is injured in your unit, and money for a hotel if your apartment becomes unlivable. Many landlords now require it — and bundling it with your auto policy often costs almost nothing after the multi-policy discount.
What it covers
- Your belongings — furniture, electronics, clothing, kitchenware — against fire, theft, vandalism, and water damage from burst pipes
- Your property even outside your home: items stolen from your car or while traveling
- Liability if a guest is injured in your unit or you accidentally damage the building (e.g., a kitchen fire)
- Hotel and living expenses if a covered loss makes your apartment uninhabitable
- Medical payments for guests injured in your home
What it doesn't cover
- The building itself — that's your landlord's policy
- Your roommate's belongings (each tenant needs their own policy)
- Flood and earthquake damage without separate coverage
- High-value jewelry, art, or equipment above sublimits unless scheduled
Coverage components explained
1Personal Property
The core of the policy. Walk through your home mentally — replacing every piece of clothing, furniture, and electronics adds up fast. Most renters need $20,000–$50,000. Choose replacement-cost settlement so depreciation doesn't reduce your payout.
2Personal Liability
Protects you if someone is injured in your unit or if you cause damage to others — including accidentally burning or flooding your own building, which your landlord's insurer can pursue you for. Standard limits run $100,000–$300,000.
3Loss of Use
Pays for a hotel, temporary rental, and increased living costs if a covered loss forces you out of your apartment while it's repaired.
4Medical Payments to Others
Covers smaller injuries to guests without a liability claim or lawsuit — usually $1,000–$5,000.
When you need renters coverage
- You rent an apartment, house, condo, or room — even with few belongings, the liability protection alone is worth it
- Your lease requires proof of renters insurance (increasingly common)
- You own a laptop, phone, TV, bicycle, or any combination worth more than a few hundred dollars
- You have guests over — a single injury claim can cost more than decades of premiums
- You're a student living off campus (on-campus students may have coverage under their parents' homeowners policy — ask us)
Frequently asked questions
How much does renters insurance cost?
Typically $12–$25 per month depending on location, coverage amount, and deductible. Bundled with an auto policy, the multi-policy discount on the auto side often offsets most of the renters premium.
Doesn't my landlord's insurance cover my stuff?
No. The landlord's policy covers the building structure only. If the building burns down, the landlord's insurer rebuilds the walls — replacing everything you own inside them is entirely on you without a renters policy.
Do my roommate and I share one policy?
Generally each roommate should carry their own policy. Some carriers allow unrelated roommates on one policy, but it creates complications with claims and liability. Individual policies are inexpensive and far cleaner.
Is my bike covered if it's stolen away from home?
Yes — renters insurance covers your personal property worldwide, including theft from your car, your office, or while traveling. High-value bikes may need to be scheduled for full coverage.
Let's find the right renters coverage for you
Answer a few questions and a licensed advisor will compare quotes across our carrier lineup — usually back to you within one business day.