Renters insurance covers your personal property, personal liability, and additional living expenses if your rental becomes unlivable after a covered loss. Your landlord's policy covers the building, not your belongings or your liability, which is the gap renters insurance fills.
What renters insurance covers
Three things. Personal property covers your belongings against fire, theft, and other covered causes, whether they are in your unit or, within limits, elsewhere. Personal liability covers injuries or damage you are responsible for, including a guest hurt in your home or accidental damage to the unit. And loss of use pays for somewhere to stay if the rental becomes unlivable. For a modest premium, it protects against losses that would otherwise come straight out of pocket.
Why the landlord's policy is not enough
Renters often assume the building's insurance protects them. It does not. The landlord's policy covers the structure and the owner's interests, not your furniture, electronics, clothing, or liability. If a fire or burst pipe destroys your belongings, or a guest is injured in your unit, the landlord's policy does nothing for you. Renters insurance is the only thing that does.
Liability is the part renters underrate
The belongings coverage is what sells renters insurance, but the liability coverage is often what saves the day. If a guest is injured, if your dog bites someone, or if you accidentally cause damage that reaches beyond your unit, liability coverage responds with defense and payment. Many leases now require renters insurance for exactly this reason, and for high earners an umbrella can sit on top of it.
How we handle it
We set a personal property limit that reflects what you actually own, not a guess. We make sure the liability limit fits your situation, and add an umbrella where it makes sense. We confirm the policy meets any requirement in your lease. And we coordinate it with your auto policy, since bundling usually lowers the total cost.
