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    Renters Insurance Information
    Your personal belongings
    Insurance for your furniture.
    Your wardrobe, furniture, sports equipment, computer and other personal items are covered if they are destroyed by fire, stolen, or damaged by other insured hazards. Generally, you specify a limit of insurance. The best way to determine the limit of insurance is to conduct a home inventory. As an option you can purchase off-premises coverage which provides theft coverage anywhere in the world.

    Expensive items including jewelry, furs and silverware are covered, but there are usually dollar sub limits if they are stolen. Generally, you are covered for $1,000 for all of your jewelry and furs. You can increase the sub limits, or insure these and other expensive items by purchasing a personal property rider and insure each item separately for its appraised value.
    Liability insurance
    Liability insurance covers you against lawsuits for bodily injury or property damage that you or resident family members cause to other people. The liability portion of your policy pays for both the cost of defending you in court and any court awards up to the limit of your policy. It does not provide liability protection for lawsuits arising from the use of motor vehicles, business related lawsuits and certain other types of losses.

    Liability limits generally start at $100,000. Experts recommend that you increase the limits to $500,000. Some people feel more comfortable with even more coverage.

    Your policy also provides med-pay coverage. If a friend or neighbor is injured in your home, they can submit medical bills to your insurance company without a liability claim being filed against you. Renters insurance policies typically include $1000 of this coverage which can be increased to $10,000. It does not pay the medical bills for your family or your pet.
    Additional living expense or loss-of-use
    It pays the additional cost of living away from home if you can't live there due to damage from a fire, storm or other insured hazard. It covers hotel bills, restaurant meals and other additional expenses you incur while your home is being rebuilt, or until you find new permanent housing. Coverage for additional living expenses differs from company to company. Many policies provide coverage for a specified dollar amount while others provide an unlimited dollar amount but limit the length of time.
    There are generally two ways claims are paid
    • Replacement/Reimbursement Cost – pays the actual cost of replacing your property
      without a deduction for depreciation up to the limit of your policy.
    • Actual Cash Value – pays to replace your property minus a
      deduction for depreciation up to the limit of your policy.
    These are the main perils or hazards you're insured against.
    • Fire
    • Smoke
    • Lightning
    • Theft
    • Malicious Mischief
    • Wind & Hail
    • Explosion
    • Falling Objects
    • Vandalism / Riot
    • Freezing of plumbing or heating systems
    • Water damage from rupture of water or steam heating systems
    Renters Insurance Frequently Asked Questions
    Why do I need renters insurance if my landlord has his own insurance?
    The insurance your landlord carries covers the building. It does not cover your personal belongings, furniture, wardrobe, appliances, electronics or anything else you brought into the unit. You need your own renters insurance to protect you and your possessions.
    Is my landlord responsible for finding me a temporary place to stay if something happens to the building?
    In most cases your landlord will not be responsible. An important reason for having renters insurance is that it will pay your additional living expenses if you're forced to move out of your apartment due to fire or other covered losses. For example, if you usually spend $1500 a month for living expenses, and your living expenses increase to $2,500, your policy will pay you the additional cost of $1000. You qualify for this coverage until you are able to move back into your apartment or you find new permanent housing. Some companies limit this coverage with a dollar amount while others limit by length of time (up to one year).
    I have a roommate. Would they be covered by my renters policy?
    If your roommate is listed on your policy as a named insured, yes they are covered. Some companies may limit the number of unrelated residents you can name on a policy. Alternatively each roommate can have their own renters insurance.
    If I accidentally damage my apartment will my renters insurance pay for the damage?
    Yes, this is part of the liability coverage included in your renters policy. In most cases it will pay for property damage that you are legally obligated to pay.
    If I am named in a lawsuit will my renters insurance cover me?
    The liability portion of your policy will provide coverage for bodily injury or property damage and will pay for your defense costs. It does not provide liability coverage for auto or business related lawsuits. Certain other types of lawsuits may be excluded.
    My building has a lobby attendant; does this qualify for a discount?
    Yes, a lobby attendant or 24 hour manned security will qualify you for additional discounts. Our online quote form will collect the necessary information needed to apply your discounts.
    Are there discounts for people who take extra steps to make their home or apartment safe?
    If you have fire extinguishers, smoke alarms, burglar alarms, or dead-bolt locks you could save on your renters insurance premium. You'll receive big discounts for having central station burglar and fire alarms.
    Does renters insurance cover theft in the home? What if I'm held-up while away from my home, or if my property is stolen from somewhere other than my apartment?
    On premises theft is included in renters insurance. Most policies offer optional off premises coverage, which insures against theft of your property anywhere in the world.
    What are the odds of my home being burglarized?
    The chance of a burglary in your home is greater than you think. According to the FBI a burglary occurs every 10 seconds, and 2 out of 3 of those burglaries occur in apartments, condos, coops, or homes.
    If a guest falls or is injured in my apartment or home, would I be covered by renters insurance?
    Yes, the med pay portion or the liability part of your renters insurance would cover this type of loss.
    What if I accidentally break or damage someone else's property?
    Renters insurance covers property damage caused by you, your resident family members or any other named insured on your policy. This is part of the liability coverage.
    Is there a discount for people who are retired?
    Most companies offer discounts for retired people. In some cases if you work part time and are over a certain age you may still qualify for a retired discount.
    I have very few possessions. Do I really need renters insurance?
    Your clothes, linens, sports equipment and appliances could add up to a substantial amount if you had to replace them all at once. Bigger items like your TV, computers, or furniture would cost more today than when you originally purchased them. With optional replacement cost coverage your policy will pay to repair or replace most of your valuables without deduction for depreciation.
    How can I determine how much insurance I need?
    Add up the value of everything you own in your home, include your clothing, furniture, electronics, and washer/dryer, etc. Your insurance should be sufficient to cover the total cost to replace all these items.

    You'll be surprised to learn just how much you risk without renters insurance.
    And even more surprised to learn how affordable this important coverage is.
    Renters insurance quotes.

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