Renters insurance is an affordable and essential policy that protects the personal property of tenants living in a rented apartment or house. While the landlord’s insurance covers the building itself, a renter’s policy covers your belongings from risks like fire and theft and includes liability protection in case a guest is injured in your home.
- What It Is: Insurance that protects a tenant’s personal property and provides liability coverage within a rented home, apartment, or condo.
- What It Covers:
- Personal Property: Covers your belongings against perils like fire, theft, and vandalism.
- Liability: Protects you if someone is injured in your rental unit.
- Additional Living Expenses: Pays for temporary housing if your rental becomes uninhabitable.
- Who It’s For: Anyone who rents their residence.
- Key Considerations: It does not cover the building’s structure—that is the landlord’s responsibility. Many landlords now require tenants to carry a policy.