Protect What Makes Your Rental Feel Like Home
Renters insurance may help protect your belongings, provide personal liability coverage, and assist with certain unexpected expenses when a covered event occurs.
Why Renters Insurance Matters
A quick look at what a policy may help protect. Coverage varies by insurer and policy.
Your Belongings
A property owner's insurance generally protects the building—not a resident's furniture, electronics, clothing, and other personal belongings.
Personal Liability
Many renters insurance policies include liability protection if someone is injured in your rental home and you are found legally responsible.
Temporary Living Expenses
Some policies may help with temporary living expenses if a covered loss makes the home temporarily uninhabitable.
Unexpected Losses
Depending on the policy, coverage may apply to certain losses involving fire, smoke, theft, lightning, wind, hail, or other listed events.
What Is Renters Insurance?
Renters insurance is a policy designed to help protect residents and their personal property. Residents choose a coverage amount and deductible and pay a premium based on the policy, selected protection, location, insurer, and other factors.
The amount of personal-property coverage should reflect the approximate value of the belongings you would need to replace after a covered loss.
Replacement Cost vs. Actual Cash Value
One of the most important details to understand is how a policy values damaged or stolen belongings.
Replacement Cost Coverage
Replacement Cost coverage generally considers what it would cost to replace a covered item with a similar new item, subject to the terms and limits of the policy.
Typically offers broader reimbursementActual Cash Value — ACV
Actual Cash Value generally considers depreciation, age, condition, and current value. The payment may be considerably less than the original purchase price.
Usually reflects depreciated valueA simple example
If a computer originally cost $500, an Actual Cash Value policy might value it at much less after considering its age and condition. A Replacement Cost policy may provide more toward purchasing a comparable replacement, subject to the deductible, limits, and policy terms.
Ask whether a quote provides Replacement Cost or Actual Cash Value coverage before choosing a policy.
What Is Personal Liability Coverage?
Many renters insurance policies include liability protection. This may help if someone is injured in or around your rental home and you are found legally responsible.
For example, if a visitor trips inside your home and is injured, liability coverage may help with covered medical expenses or legal costs, depending on the policy.
Residents can often select different liability limits based on their needs, budget, lease requirements, and available policy options.
Five Reasons to Protect Yourself with Renters Insurance
Coverage varies by insurer and policy. These are general reasons many residents choose to carry a policy.
- 01
Protection After Certain Fires or Storms
Depending on the policy, renters insurance may help cover personal belongings damaged or lost due to covered events such as fire, lightning, wind, or hail.
- 02
Protection from Covered Theft
A policy may help reimburse the value of belongings stolen during a covered theft. The amount may depend on whether the policy uses Replacement Cost or Actual Cash Value.
- 03
Temporary Living Arrangements
If a covered loss makes your home temporarily uninhabitable, some policies may help pay eligible additional living expenses, such as temporary lodging.
- 04
Personal Liability Protection
Liability coverage may help with eligible costs if someone is injured in your rental home and you are found responsible.
- 05
Protection Away from Home
Some policies may provide limited coverage for personal belongings lost or stolen while away from the rental home, subject to the policy's terms and limits.
Common Renters Insurance Misconceptions
A couple of the most common misunderstandings—and what's generally true.
Creating a simple photo or video inventory of your belongings may be helpful if you ever need to document a loss.
How Much Personal-Property Coverage Might You Need?
Consider the approximate replacement value of belongings in each area of your home.
Tap each area you would need to replace after a covered loss.
0 of 10 selectedCertain valuable items may have separate limits and may require additional coverage. Ask the insurance provider about exclusions, limits, and scheduled property.
What Does Renters Insurance Cost?
Renters insurance is generally less expensive than homeowners insurance, but premiums vary based on the provider, location, deductible, coverage amount, liability limit, claims history, optional endorsements, and other factors.
Residents should compare policy limits, deductibles, exclusions, and coverage—not price alone.
Request a Renters Insurance Quote
Compare available options and review the policy carefully before purchasing coverage.
State Farm
Nationwide insurer offering renters insurance. Visit their website to compare coverage and request a quote.
Request a QuoteAuto-Owners Insurance
Insurance provider offering renters coverage through local independent agents. Visit their website to learn more and request a quote.
Request a QuoteAllstate
Nationwide insurer offering renters insurance. Visit their website to compare coverage and request a quote.
Request a QuoteLemonade
Digital-first insurer offering renters insurance online. Visit their website to compare coverage and request a quote.
Request a QuoteAmerican Family Insurance
Insurance provider offering renters coverage. Visit their website to learn more and request a quote.
Request a QuoteNationwide
Nationwide insurer offering renters insurance. Visit their website to compare coverage and request a quote.
Request a QuoteFarmers Insurance
Insurance provider offering renters coverage. Visit their website to learn more and request a quote.
Request a QuoteLiberty Mutual
Nationwide insurer offering renters insurance. Visit their website to compare coverage and request a quote.
Request a QuoteProgressive
Nationwide insurer offering renters insurance. Visit their website to compare coverage and request a quote.
Request a QuoteUSAA
Insurance provider offering renters coverage to eligible members. Visit their website to learn more and request a quote.
Request a QuoteAvailable to military members and their eligible family members only.
Renters Insurance FAQs
Answers to some of the questions residents ask most often.
Protect Your Belongings and Your Peace of Mind
Review your options, compare coverage carefully, and select a policy that fits your belongings, liability needs, and lease requirements.
View Insurance CompaniesDisclaimer
The information on this page is provided for general educational purposes only and is not legal, financial, or insurance advice. Coverage, premiums, deductibles, exclusions, limits, and claim decisions vary by insurer and policy. Residents should review policy documents and speak directly with a licensed insurance professional regarding their individual needs.