Skip to Content

Everything You Need to Know About Renters Insurance

A document outlining coverage for personal belongings and liability in a rental property. Renters insurance is the principal key for safeguarding your belongings against startling and sudden events like natural disasters, fires, or thefts. Even while it’s not legally required, renters insurance is a cost-effective way to protect yourself and your possessions, extending peace of mind by knowing that you are protected in an unexpected event. It may sometimes include personal property, liability, and additional living expenses. With renters insurance, you can avoid financial hardship by having the necessary coverage to recover from a loss.

What is Renters Insurance?

Renters insurance is a crucial policy that every renter should have. It presents personal liability coverage and covers the loss or replacement of your belongings when living in a rental home. Even while it may not be mandated by law, it’s definitely recommended, as many landlords require it. These policies are not only cheap but also provide necessary protection for renters.

What Does Renters Insurance Cover?

Renters insurance covers personal belongings against theft, loss, or damage and liability for injuries in your rental home. It can, in particular, cover the cost of temporary housing if your rental home is damaged by a natural disaster. Policies alter and may cover additional benefits like car coverage or reimbursement for stolen items while on vacation. Weigh about possessing a renters insurance policy that meets your specific requirements.

How Do I Put Value on My Possessions?

To guarantee proper protection with renters insurance, know the value of your possessions by adopting apps or spreadsheets. Keep a list of your belongings and their value, purchase receipts for expensive items, and photos of everything you own. This technique can make the claims process smoother and present you peace of mind.

What About Pets and Roommates?

Being informed of the potential coverage and limitations of renters insurance in connection with pets is principal. While it’s unusual, renters insurance can help cover your liability if your pet injures someone. With that said, it’s worth noting that renters insurance won’t cover any vandalism your pet might bring onto your personal belongings.

It’s indeed integral to understand that a large number of insurance providers have breed restraints and may not cover certain dog breeds or other animals. Consequently, it’s ideal to follow closely with your provider to grasp well if your pet is covered or if there are any breed restrictions that you should consider and be aware of.

Concerning roommates, not all tenants’ insurance policies inevitably or automatically cover them. A large number of providers may authorize you to add your roommate to your policy, while others may call for them to get their own policy. It’s necessary to learn that if you are both on the same policy and your roommate makes a claim, it may affect your insurance record and trigger your rates to go up.

Other Important Things to Know About Renters Insurance

  • Not everything is covered in addition to damage to the dwelling, insect infestations, and natural water damage.
  • Natural flooding is many times not covered, and a separate flood insurance policy may be necessary if you live in an area prone to flooding.
  • When buying off a policy, compare options earnestly to bear in mind you’re getting the right coverage for your needs.


Seeking a rental home in Union City or nearby? Contact RPM Masters today online or browse our available rental listings to find good homes in your area.


Originally Published on February 26, 2021

We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.

The Neighborly Done Right Promise

The Neighborly Done Right Promise ® delivered by Real Property Management, a proud Neighborly company

When it comes to finding the right property manager for your investment property, you want to know that they stand behind their work and get the job done right – the first time. At Real Property Management we have the expertise, technology, and systems to manage your property the right way. We work hard to optimize your return on investment while preserving your asset and giving you peace of mind. Our highly trained and skilled team works hard so you can be sure your property's management will be Done Right.

Canada excluded. Services performed by independently owned and operated franchises.

See Full Details