What renters insurance covers
- Personal property — furniture, electronics, clothing and other belongings, from fire, theft, smoke, certain water damage and more. Coverage usually applies even when items are away from home.
- Personal liability — if someone is hurt in your home or you accidentally damage someone else’s property.
- Loss of use — extra living costs, like a hotel, if your place becomes unlivable after a covered loss.
What it usually doesn’t cover
- Floods and earthquakes — these need separate policies.
- The building itself — that’s your landlord’s responsibility.
- High-value items above set limits — jewelry, art and collectibles may need extra coverage.
How much coverage you need
Add up what it would cost to replace your belongings. Many people underestimate this; walking room by room and listing items helps. Choose replacement cost coverage if you can — it pays to buy new items, while actual cash value subtracts depreciation.
Bundling saves money
Renters insurance is usually inexpensive, and adding it to your car insurance with the same company can earn a discount on both.
Frequently asked questions
Does my landlord’s insurance cover my belongings?
No. A landlord’s policy covers the building and their liability, not your personal property.
Is renters insurance required?
It isn’t required by law, but many landlords require it in the lease.
Does renters insurance cover my roommate?
Usually not unless they’re named on the policy. Each roommate typically needs their own.
This guide is general information, not insurance or legal advice. Coverage and requirements vary by insurer and state.