BJ Kirby Insurance Agency

Renters/Apartment Insurance

What is renters insurance?

Renters insurance coverage protects you and your personal belongings if the worst happens. While you may only be renting your apartment or house, chances are you own most of the stuff in it. And while your landlord’s insurance policy on the home typically covers the building structure itself, protecting your valuables comes down to you.

What renters insurance covers:

  • Renters coverage can help you replace your belongings after a covered incident in your home, such as a fire or burglary. You may be surprised at how much everything in your pad is worth when you add it all up.
  • The average renter owns about $20,000 in personal property and is 25 percent more likely to be burglarized than someone who owns a home.
  • And the beauty is that renters coverage protects your belongings anywhere in the world — whether they’re stolen from the trunk of your car or out of your backpack at a Paris hostel.
  • If you’re sued because someone was hurt in your apartment or because you (or someone covered under your policy) accidentally injured someone, renters insurance can provide liability coverage for legal costs. The limits of personal liability coverage vary, so check to see what your limits are when you get a quote.
  • Your renters policy can also help cover medical payments up to a certain limit if a guest or visitor is injured on your property — though it generally doesn’t cover injuries to you or other household members.
  • Rental insurance coverage for your apartment or house follows you wherever you go, so if you accidentally break or damage someone else’s property, your policy can help pay to replace it.
  • If you can’t stay at your place because a covered incident, home rental insurance can help pay for a place to stay, among other things. Loss-of-use coverage, otherwise known as relocation expenses or additional living expenses, could help cover living costs up to a certain limit.