What is Renters Insurance and What Does it Cover?

With so much uncertainty, it’s ‘better to be safe than sorry’ has never run more true. If you own valuables, it may be worth looking into renters insurance.

renters insurance policy is designed to help protect renters living in a house or apartment. A typical renters insurance policy includes three types of coverage that help protect you, your belongings and your living arrangements after a covered loss. Read on to learn how each type of coverage works.

What Does Renters Insurance Cover?

Renters insurance helps cover unexpected events — otherwise known as covered perils. You may not always be able to prevent certain situations spontaneous situations such as a theft and that is where renters insurance comes in. The following are three types of coverages in a renters insurance policy.

Coverage TypeWhat It May CoverWhat’s Typically Not Covered
Personal PropertyThe cost to repair or replace your belongings, such as clothing, furniture and electronics, up to the limits in your policyPersonal property loss over your coverage limit
LiabilityRepairs if you accidentally damage someone else’s property or a guest’s medical bills if you’re found responsible for their injuriesLiability protection over your coverage limit
Additional Living ExpensesAdditional costs you incur, like hotel bills, if the residence you rent is damaged and left uninhabitableDamage to the structure of the building you’re renting

Does Renters Insurance Cover Theft?

If your renters insurance policy includes personal property coverage, it may help pay to replace your stolen items. This coverage typically protects items stolen after a break-in at your rental property, or even items stolen outside of your rental. For example, if your personal property (such as a gaming system) is stolen from your car, the personal property coverage in your renters policy may help pay to replace it.

For more ideas, read our recent article Perks of Buying a Vacation Home

Speak with a licensed agent at Uniamericainc.com to discuss which coverages best fit your unique situation. 

Call us directly 1-310-835-3373 or start a quote online.

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