Tenants Insurance - You Need It!
It's not your building.
But it is your stuff. Unless you're living in an empty apartment and wearing the same outfit to work every day, you probably could benefit from Tenants insurance. After all, clothes, furniture, stereos and TVs all cost money.
You might also hurt someone accidentally while riding your bike, say or playing golf. Tenants policies cover all this — and more — for surprisingly little.
Frequently Asked Questions About Renter's Insurance
What is renter’s insurance?
Renter’s insurance provides protection for personal property and liability coverage for injury or property damage claims that may occur on the premises.
What's the difference between renter’s insurance and homeowner’s insurance?
Renter’s insurance is designed to protect your personal possessions, while homeowner’s insurance protects your possessions and the structure. Tenants do not have responsibility to provide coverage for the structure. Building coverage is provided by the building owner.
Does my renter’s policy cover injuries caused by pets?
Renter’s insurance can cover damage and injury caused by pets, but you should check with your agent to see which pets are covered. Some animals and certain breeds of dogs are denied coverage entirely.
Does renter’s insurance cover my stuff outside of my apartment?
Yes, your policy provides 10% of your personal property limits away from the premises. This includes stolen items form your car or items stolen while on vacation.
Does my insurance cover my roommate?
No. Each individual needs to purchase their own renter’s insurance policy to protect their belongings and liability.
Is damage to my items by a flood covered?
Damage by a flood is not covered by a renter’s policy. However, an individual policy can be purchased for flood protection.