What Does Renters Insurance Cover And Not Cover in 2023

What Does Renters Insurance  Cover And Not Cover in 2023

Renters insurance covers stolen or destroyed belongings. It pays if you injure others or their property. Fire, theft, and windstorms are covered by renters insurance, but not flooding or earthquakes.

Identity theft and jewelry are often covered by renters’ insurance.

Renters insurance pays for the building to be insured and fixed, which is the landlord’s job, not yours. Tenants aren’t fully off the hook.

If a storm or robber destroys your building or flat, your landlord’s insurance won’t cover your stuff.

Renters insurance covers these and other hazards.

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Renters insurance covers theft, fire, and other disasters. It pays legal fees if you’re sued for harming others.

  • Renters insurance is comparable to homeowners insurance but geared for renters.
  • Renters insurance is around $15 a month on average, according to NerdWallet’s pricing study.
  • It just protects the contents, not the structure.
  • Before signing a lease, some landlords need renters insurance.

What does renters insurance cover?

  • Standard renters’ insurance covers four things.
  • Covers clothes, furniture, electronics, etc.
  • covers hotel accommodations, restaurant meals, and other expenses if you must live elsewhere during covered repairs.
  • pays for injuries or property damage you cause.
  • Covers injuries to visitors regardless of culpability.

Personal Property

Most renters’ insurance covers the loss of clothes, phones, and other personal items in 16 different ways.

  • Malicious vandalism.
  • Ice, snow, and sleet weight.
  • Some household devices or equipment leak water or steam.
  • Certain household systems suddenly ripping, breaking, scorching, or expanding.
  • Some appliances or systems freeze.
  • Accidental electrical damage.
  • Flugzeugschäden.
  • Auto damage.

Your personal items are covered at home and away. Your renters’ insurance will cover a stolen bike, with a few exceptions.

Your deductible comes first. Second, your coverage may be limited when you’re not at home (usually 10% of your personal property limit).

Lightning strikes your apartment building, igniting your living room.

Your renters’ policy covers broken items like your couch and TV, minus your deductible.

Loss Of Use, Or Additional Living Expenses

After a covered calamity, renters insurance pays for you to reside elsewhere during repairs. It can cover hotel fees, restaurant meals, and other expenses.

After a fire in your living room, you must leave your flat for a few weeks. Insurance can cover your motel stay.

It can cover the difference between cooking your own meals at home and eating out every night at the motel.

Liability Insurance

A lawsuit might ruin your finances for years if someone gets wounded in your rental.

Your renters’ insurance liability section covers bodily injuries on or off your premises. (If you harm someone in a car accident, your auto coverage pays.)

Renters insurance may cover dog bites. Some insurers don’t cover dog bites or particular breeds. Check with your insurance agent if you have a dog.

Renters insurance covers legal counsel and damages in a case.

Example: While filling the tub for a bath, your kids argue. When you calm down, the tub overflows. Water leaks through the roof, damaging a leather sofa below.

Someone sues you. Your renters’ insurance might pay your legal expenses and your neighbor’s $2,000 couch reward.

Medical payments

This covers injuries on your property, like liability insurance.

Difference? Medical payment coverage compensates regardless of fault, whereas liability insurance does not. Liability limits are usually higher.

After tripping over your son’s toy truck, a visitor sprains her wrist. Your medical payment coverage can compensate her for the X-ray and urgent care visit.

Optional renters insurance coverage

You can personalize your policy with endorsements that offer more coverage for a small fee. Here are some.

Replacement cost coverage

A normal renter’s insurance policy pays to replace your possessions based on their “real cash worth.”

If your wrecked sofa is 10 years old, your claim check would only buy a used sofa. pay the difference for a new one.

Replacement cost coverage pays to replace lost things.

Scheduled personal property

Renters’ rules limit how much they’ll pay for stolen jewels, weapons, and electronics.

To cover higher-value items, add a personal property endorsement.

You inherit your grandmother’s diamond ring. Your insurance company may want a jeweler to look at the ring before they will cover it. The insurer can add ring coverage to the policy (for an extra cost).

Below is a list of items that renters’ policies cover up to a certain level. (Check your policy or ask your agent)


Silverware, goldware and pewterware.Items used for business purposes.

Water backup coverage

You can add coverage for a backed-up sink, toilet, or other drain that floods your flat.

Pet damage liability

If your pet is destructive (think carpet accidents or wall claw scratches), ask your insurer about a pet damage endorsement. This can help you avoid losing your security deposit on cleanup or repairs.

Identity theft coverage

Some insurers offer optional identity theft coverage. This includes credit monitoring, legal fees, and document replacement.

What renters insurance doesn’t cover

Renters’ insurance exclusions are standard. Renters insurance won’t cover the following:

Flood damage

Most renters’ insurance doesn’t cover flooding, including severe rain or overflowing water. If your home is damaged, you must pay for repairs or obtain flood insurance.

USAA renters insurance, offered solely to active-duty military, veterans, and their families, provides flood coverage as standard.

You can get federally backed or independent flood insurance. Find flood insurance.

Earthquake damage

Renters’ insurance rarely covers earthquakes. You can add earthquake insurance to your renters policy or purchase it separately (with the exception of USAA).


Depending on where you live, Assurant’s renters’ policies may cover bedbugs.

Jetty only insures participating residences, but its base policies include $300 in bedbug coverage.

EPremium and eRenterPlan may pay to get rid of bedbugs if you live in a rental property that takes part.


Your roommate’s belongings

Unless you share a policy, most renters’ insurance won’t cover your roommate’s belongings.

Not all states or insurance providers allow this. Each person should have their own renter’s policy.

How much renters insurance do I need?

How much renters insurance you need depends on your belongings, their value, and your savings and other assets. More losses mean more insurance.

Take stock of your valuables to determine how much personal property coverage you need. Several apps let you catalog your belongings.

This can help with claims. Inventorize your home.

Use our renters’ insurance cost calculator to assess your possessions’ value.

Liability limits range from $100,000 to $500,000 on average. You’ll need enough to secure your savings and vehicles from a lawsuit.

Frequently Asked Questions

Does renters insurance cover theft?

Yes, renters insurance covers theft even when you’re not home.

If your phone is stolen on the metro, you should replace it. Your deductible will reduce your payment. Filing a claim for a low-value item may not be worth it.

Does renters insurance cover water damage?

Possibly. If your policy covers water damage, you should be covered.

A burst pipe is normally covered, but flood damage isn’t (unless you have flood insurance).

Does renters insurance cover a storage unit?

Yes. Your renters’ policy covers your items when traveling and when kept elsewhere.

Off-premises belongings may have less coverage (usually 10% of the total insurance value).

Does renters insurance cover mold?

Mold causes vary. Renters insurance covers abrupt, catastrophic incidents like a burst pipe that floods your bathroom and causes mold.

This is probably covered. If you haven’t cleaned your cellar, mold will grow slowly.

Does renters insurance cover broken windows?

A storm-tossed tree branch breaks your bedroom window. Since falling objects are insured, your personal property section handles the damage.

You wouldn’t be covered if your dog broke your window while playing fetch.

Your policy’s liability section may pay if you smash someone’s window.

Does renters insurance cover car theft?

If your automobile is stolen, submit a claim under your auto insurance’s comprehensive part, not your renters policy.

If you have a laptop or luggage full of clothes in the car, your renters’ coverage may cover them.

Does renters insurance cover dog bites?

If your dog bites someone outside your household, the liability section of your renters’ policy will cover medical and legal fees.

Exceptions exist. Some firms won’t insure aggressive breeds.

Does renters insurance cover pet damage?

It depends on coverage and damage. Your liability insurance may cover a vase your dog knocks over with his tail in a friend’s house.

Unless your policy covers pet damage, you’ll have to pay to fix Fluffy’s scratched countertops.

If I’m still a dependent, does my parents’ insurance cover my stuff?

Your parents’ insurance should cover your stuff if you live with them. Insurance coverage for college students varies.

You may have coverage in a dorm but not in an off-campus apartment.

Your parents’ insurance should cover your stuff if you live with them.

Insurance coverage for college students varies. You may have coverage in a dorm but not in an off-campus apartment.



I am Dharmendra Jain, Owner of this website. In point of fact, the author, Dharmendra Jain, writes on Finance Niche, because he enjoys disseminating knowledge to people all over the globe. The author has expressed a desire to maintain communication with all of his or her devoted readers. And in order for me to be connected to the internet in the first place, it compelled me to do so.

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