What Is Renters Insurance?

Renters insurance is a collection of coverages—personal property, liability, and loss of use—that provides reimbursement to tenants for damages, theft, disasters, and injuries. The total funds given after a claim depends on the coverage limits selected.

Examples of Personal Property Covered by Renters Insurance

Simply put, renters insurance covers the cost (up to a specified coverage limit) to repair or replace your personal belongings. Some examples include:

• Clothing
• Furniture
• Jewelry
• Electronics
• Bicycles

Your Possessions Are Covered Outside Your Home Too

Your belongings are covered whether they are in your home or not. If someone breaks into your car and steals your laptop, then you’re covered. If someone steals or damages your bicycle while you’re in the corner store, then you’re covered.

Damages to Other People’s Things Are Covered, No Matter Where You Are

Renters insurance is not bound by the walls of your apartment; on the contrary, your policy follows you to the mall, the post office, the movie theatre, the gas station—everywhere! If, for example, you knock over and break an item on display in a store, then your renters insurance will back you up. Why? Because you would be liable for the damages, and liability is an important component of any renters insurance policy.

Protection for Other People’s Injuries

Renters insurance can provide reimbursement for medical bills if someone gets hurt on your property. For example, if your friend’s child gets injured while under your supervision, then your renters insurance can help.

Coverage for Hotel Stays When Disaster Strikes

Renters insurance can help cover or off-set the cost of a hotel if you cannot stay in your apartment. Some common perils that can deem a home inhabitable include:

• Fires. What if you forget to turn the stove off after cooking? What if a candle gets knocked over? These common scenarios can happen to anyone. If it happens to you, your renters insurance will allow you to stay in a hotel until the situation is resolved.
• Storms. New England has seen its fair share of disastrous storms over the years. It’s no longer a question of “if” a tornado or hurricane will strike; it’s a matter of “when.” When that day comes, your renters insurance will allow you to weather the storm inside of a cozy hotel.

What’s Not Covered by Renters Insurance?

• Floods
• Bug, pest, or wildlife infestations
• Damage to the rental property itself. A leaking roof, for example, would be the landlord’s responsibility
• Car damages (that’s what auto insurance is for!)