Renters Insurance: Affordable Protection for Your Stuff

What renters insurance covers

Personal property

Pays to repair or replace your belongings after a covered loss (fire, theft, vandalism, many water events). Coverage typically follows you outside the home, too.

Liability

Helps cover legal costs and damages if someone is injured in your rental or you accidentally damage someone else's property. Common starting limits are $100,000.

Loss of use

Pays for additional living expenses if a covered loss makes your rental uninhabitable (hotel, meals, temporary housing).

Deductibles

The out-of-pocket amount per claim. Common deductibles are $250 to $1,000 — higher deductibles lower your premium.

Roommates

• Most policies cover only the named insured — roommates usually need their own policy.
• Some carriers allow adding a roommate; check before assuming shared coverage.
• Couples (married or in civil unions) often qualify for one shared policy.

Valuable items

• Jewelry, watches, cameras, musical instruments, and bikes often have category limits.
• For full coverage, schedule items individually with appraisals or receipts.
• Replacement cost coverage costs slightly more but pays out more at claim time than actual cash value.