What Does Renters Insurance Cover?

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What does renters insurance cover?

A renters insurance policy protects you and your belongings from the unexpected. Could you afford to replace all your personal items if they were destroyed in a fire? A renters insurance policy could help cover expenses to help replace your personal property. It could also assist with temporary living expenses if your apartment is damaged by a covered loss, and you cannot stay there.

Renters insurance can cover both your personal liability and your belongings in the event of a covered incident, such as theft, water damage, or fire. The coverage will address expenses up to the specified limits of your policy. It's important to note that certain events, including earthquakes and sinkholes, may not be included in the standard coverage.

In addition, renters' insurance provides coverage to help protect you against claims that others make against you. This is called liability coverage and can help cover medical expenses and/or legal fees if someone is injured on your property.

Keep reading to learn more about renters insurance and discover whether medical bills, mold, or vandalism are covered in most renters insurance policies.

What does renters insurance protect?

Too often, people think they don't have enough property to make a renters insurance policy worthwhile. But take a minute to think about what you own, and what you've got to lose, including:

  • Clothing
  • Furniture
  • A television or entertainment system
  • A computer
  • Musical or sporting equipment
  • Jewelry

Personal Property Coverage

With a renters policy, your cherished belongings could be protected in case of theft or damage. It's a standard feature in the majority of renters insurance policies. Personal property includes items ranging from your favorite sectional to your tablet.

Personal Liability Coverage

Whether you inadvertently damage a staircase post during a clumsy descent or a guest gets hurt during an intense game night at your place–personal liability coverage steps in. It covers a range of mishaps, including property damages you accidentally cause or medical expenses for injuries sustained to others on your premises.

Medical Bills

In the unfortunate event of a mishap, like a guest falling in your rental property, renters' insurance steps up. It shoulders the potential costs you could be held accountable for, up to the limits of your policy. This coverage could offer a reassuring buffer against potential lawsuits, ensuring the injured party's medical bills are taken care of.

Temporary Housing or Loss of Use

Whether you are facing a necessary fumigation or essential repairs due to covered loss, renters insurance has your back. Should your rental become uninhabitable for a while due to covered perils, your policy can step in to cover the costs of alternative lodgings, be it a hotel stay or another temporary abode. Coverage typically allows for similar pricing as your current rental.

Military Equipment

Your renters insurance can cover your military gear, including uniforms, up to a specified limit. So, if a pipe unexpectedly bursts in your residence during your deployment or any other covered mishap unfolds, rest easy knowing your treasured items have a safety net for replacement.

When does renters insurance apply?

Your renters policy will state exactly what you're insured against. In the insurance world, it's known as "named peril" coverage.

What are some named perils your renters insurance policy may cover?

  • Fire or lightning
  • Windstorm
  • Smoke
  • Vandalism or malicious mischief
  • Theft
  • Accidental discharge of water
  • Other common loss types

Your coverage will also include liability protection, which generally covers accidental injury to another person on your property. If necessary, your policy can even pay for your legal defense in these circumstances. Many landlords actually require tenants to purchase renters insurance with specific liability limits, especially if they own pets.

Additionally, your renters insurance policy will include medical payments coverage that pays for medical expenses of people who don't live with you, but who are injured on your property.

Get covered. Get a renters insurance quote now.

What is not protected under renters insurance?

Standard renters insurance policies typically exclude coverage for damages caused by natural disasters like floods and earthquakes, which require a separate, specialized policy. Additionally, most policies won’t cover damage resulting from negligence or intentional acts, as well as losses related to certain high-risk activities, like running a home business without proper endorsements.

It's also important to note that while renters insurance does cover personal belongings, special items like jewelry, electronics, or collectibles may have lower coverage limits. If you own valuable items that exceed these limits, you can purchase additional coverage, often called a "rider" or "endorsement," to ensure they are fully protected. This way, you can tailor your renters insurance policy to meet your specific needs.

How much does renters insurance cost?

Renters insurance secured through GEICO can cost as little as $12 per month. How much coverage you choose to buy and what deductibles you select affect the price of your policy. Coverage limits vary, and you will want to select an amount that safely protects your belongings. The deductible is the amount you agree to pay before your benefits apply. Higher deductibles lower your insurance cost, while lower ones raise it. Think of it as how much you are willing to pay out of pocket if you have a covered loss; the more you pay out of pocket, the lower your monthly renters insurance payment.

How much renters insurance do I need?

You should think about all the personal property that you own. You want to make sure you buy a renters insurance policy with limits that will be enough to cover these items. You may want to create an inventory to make sure you don't forget anything. Don't forget you may need to update your renters insurance policy too. We also have an easy to use personal property calculator to estimate the value of your belongings. This tool can help you customize your renters policy to cover your needs.

Renters insurance provides protection if your personal property is damaged, stolen, or destroyed for a covered reason. Get an online renters insurance quote.

Why buy renters insurance?

Without renters insurance, you've got no coverage for personal property loss or damage. Fortunately, you can get affordable renters insurance (also called apartment insurance) to help protect you in situations like these. Many landlords require tenants to purchase renters insurance with specific liability limits, particularly for tenants who own pets. Ensuring compliance with these requirements can prevent conflicts and financial losses. Get a free online renters insurance quote right here or call (800) 841-3005.

Renters Insurance FAQs

  • Does renters insurance cover flooding?

    Renters insurance generally does not include coverage for flooding. To ensure protection against flood damage, a separate flood insurance policy is necessary. Obtain a flood insurance quote here.

  • Does renters insurance cover earthquakes?

    Renters insurance does not typically provide coverage for earthquake damage. If you reside in an earthquake-prone region, you should consider obtaining separate earthquake insurance.

  • Does renters insurance cover undocumented items?

    Renters insurance typically does not cover undocumented items if you cannot provide proof of ownership or value, such as receipts, photos, or appraisals. To ensure coverage, it's important to keep a record of your belongings. Without proper documentation, claims for those items may be denied or underpaid.

  • Does renters insurance cover mold damage?

    The coverage of mold damage under renters insurance is conditional. If the mold growth resulted from a covered event, such as water damage following a gas explosion, the policy might provide coverage. Otherwise, mold damage is typically excluded.

  • Does renters insurance cover vehicle theft?

    Renters insurance does not cover the theft of vehicles. However, if personal belongings are stolen from within the vehicle, they may be covered under certain conditions.

  • Are moving costs covered by renters insurance?

    Renters insurance does not cover the costs associated with moving, even if the move is necessitated by events like repairs or infestations. It's worth noting that some moving companies offer insurance options to protect belongings during transit.

  • Does renters insurance cover my roommate's belongings?

    Renters insurance does not cover your roommate's belongings unless they are specifically named in your policy. Each roommate generally needs to have their own policy to protect their individual possessions.

  • How do I file a renters insurance claim?

    To file a renters insurance claim, start by notifying your insurance company about the incident. Provide detailed information about the damage or loss, including photos or videos if available. The insurance company may require you to fill out a claim form and provide a list of damaged or stolen items with their values. Then, your provider will review the claim and guide you through the next steps.

  • Will renters insurance cover pets?

    Renters insurance typically covers liability claims if your pet injures someone or damages property, but it does not cover costs related to the pet's medical care.

  • Is property in self-storage units covered by renters insurance?

    Many renters insurance policies include coverage for personal property stored in off-premises locations, though coverage limits may be lower than for items kept in your home. It's important to check your specific policy or speak with your insurance provider to understand the extent of coverage and any applicable limits.

Go with GEICO and Save on Renters Insurance

It's easier than ever to find the right renters insurance coverage through the GEICO Insurance Agency. Our insurance specialists are ready to guide you through the process of finding a policy with affordable rates and outstanding coverage.Get a free renters insurance quote now!

Please note:

The above is meant as general information and as general policy descriptions to help you understand the different types of coverages. These descriptions do not refer to any specific contract of insurance and they do not modify any definitions, exclusions or any other provision expressly stated in any contracts of insurance. We encourage you to speak to your insurance representative and to read your policy contract to fully understand your coverages.

Renters coverages are written through non-affiliated insurance companies and are secured through the GEICO Insurance Agency, LLC.