Renters insurance protects your personal belongings, provides liability coverage, and pays for temporary housing if your rental becomes unlivable due to a covered event like fire or water damage. Your landlord's insurance covers the building but nothing inside your apartment - your furniture, electronics, clothing, and everything else you own is unprotected without a renters policy.
We're not just selling insurance. We're here to make sure you understand your options, feel confident in your coverage, and have someone in your corner when it matters most.
Who needs renters insurance?
If you rent an apartment, house, or condo, renters insurance is one of the smartest purchases you can make for its cost. Walk through your rental and mentally total what it would cost to replace everything - your bed, couch, TV, laptop, clothes, kitchen items, and personal effects. For most renters, that number is $15,000–$50,000. A single apartment fire, burst pipe from a frozen line in January, or break-in could wipe out everything. Many apartment complexes now require proof of renters insurance before you sign a lease. Even if your landlord does not require it, the coverage is so affordable that skipping it is a risk that makes no financial sense.
What does renters insurance cover?
- Personal belongings - furniture, electronics, clothing, appliances, and more - against fire, theft, vandalism, and other covered perils
- Personal belongings away from home - your laptop stolen from your car or luggage lost during travel
- Personal liability - if someone is injured in your rental or you accidentally damage someone's property (typically $100,000–$300,000)
- Medical payments to guests injured in your rental regardless of fault
- Additional living expenses - hotel, meals, and other costs if your rental is uninhabitable after a covered loss
- Credit card and bank account fraud coverage (limited, but included in most policies)
What renters insurance does NOT cover
- The building itself or your landlord's property - that is your landlord's responsibility
- Flood damage - requires a separate flood policy even for renters
- Earthquake damage - requires a separate endorsement or policy
- Your roommate's belongings unless they are named on your policy
- High-value items above sub-limits - jewelry over $1,500, firearms, collectibles (schedulable separately)
- Damage from pests, mold, or normal wear and tear
- Your vehicle or items permanently stored in your car
What does renters insurance cost?
Renters insurance typically costs $15–$30 per month, making it one of the most affordable and impactful insurance products available. That is roughly the cost of one takeout dinner per month for $20,000–$50,000 in belongings coverage plus $100,000 or more in liability protection. Your premium depends on the amount of coverage, your deductible, your location, and your liability limit. Bundling renters with your auto policy usually saves 5–15% on both policies. We shop multiple carriers to find the best value for your situation.
Frequently asked questions
No. Standard renters insurance excludes flood damage, defined as water that enters from outside the building due to rising water, overflowing rivers, or heavy rainfall runoff. If your apartment is near a river, creek, or any low-lying area, a separate renter's flood policy is available through the NFIP or private carriers, typically for $50–$150 per year. However, renters insurance does cover water damage from burst pipes, appliance leaks, and accidental overflow inside the unit.
Your landlord's insurance covers the building structure and their liability as a property owner. It does not cover your personal belongings, your liability as a tenant, or your additional living expenses if you are displaced. If a fire destroys your apartment, your landlord's insurance rebuilds the unit - but you are on your own to replace everything inside it and pay for a hotel while repairs are made.
Not automatically. Your renters policy covers you and typically your spouse or domestic partner. If you have a roommate who is not related to you, they need their own policy or must be added as a named insured on yours. If your roommate's belongings are stolen or damaged, your policy will not pay for their losses unless they are listed on the policy. Each roommate getting their own policy is usually the simplest approach.
Many landlords and property management companies require tenants to carry a minimum amount of renters insurance - typically $100,000 in liability - and to list the landlord as an interested party (not the same as additional insured). This means the landlord receives notification if your policy is cancelled. We handle these requirements daily and can set up your policy to meet your lease requirements, usually same-day.
Standard renters policies include sub-limits on certain categories: jewelry is typically capped at $1,500, firearms at $2,500, and electronics may have limits depending on the carrier. If you own a $3,000 engagement ring, a $2,000 camera, or a valuable instrument, you should schedule those items individually on your policy. Scheduling provides broader coverage (including accidental loss) and eliminates the sub-limit. The cost is usually $1–$3 per $100 of value per year.
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Related coverage to consider
- Umbrella Insurance - Adds an extra layer of liability protection above your home and auto policy limits.
- Flood Insurance - Standard homeowners insurance does not cover flood damage.
- Pet Insurance - Reimburses veterinary costs for accidents, illnesses, and sometimes routine care.
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Reviewed by
Sheilia Royal, Agency Principal / Licensed Agent
Licensed in KY, IN & TN | 20 years experience | Last reviewed: March 2026