What Does Renter's Insurance Cover?


Quick Answer

Renter's insurance, which is typically enacted at the onset of a house, condo or apartment lease, provides the cost of replacing a renter’s personal belongings in the case of theft, fire, natural disaster or other covered event. In addition to covering personal property, renter’s insurance protects against personal liability and in some cases additional living expenses, credit card fraud, and alterations or redecorating costs applied to the rented space.

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Full Answer

The liability aspect of the policy protects against losses arising from liability suits, such as those from injuries that may take place within the rental space that are not the result of a structural oversight. Common add-ons to standard policies provide additional living expenses to provide temporary housing to a displaced tenant, identity theft protection and off-premises protections.

Renter’s insurance is a type of property insurance that covers the tenant’s belongings and liability within a rental space. These policies can be undertaken by individuals renting or subletting an apartment, single-family home, condo, duplex, townhome, loft or studio.

Renter’s insurance policies typically require a relatively low monthly premium. Protection is only provided to the individuals listed on the policy. Moreover, the price, limits, deductible and coverage provided vary from plan to plan and state to state.

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