On this page
What renters insurance covers
| Coverage | What it pays for | Example |
|---|---|---|
| Personal property | Repair or replacement of your belongings after covered losses (fire, smoke, theft, vandalism, some water damage) | A kitchen fire destroys your furniture and clothes |
| Liability | Legal costs and damages if you’re responsible for injury or property damage | Your bathtub overflows and damages the unit below |
| Loss of use / additional living expenses | Extra costs of living elsewhere while your home is unlivable | Hotel and meals after an apartment fire |
| Medical payments to others | Small medical bills for guests injured in your home, regardless of fault | A friend trips and needs stitches |
Common exclusions
- Flood (including storm surge) and earthquake
- Pests: bedbugs, rodents, insects
- Wear and tear or gradual damage
- Mold from long-term leaks
- Intentional damage
- Roommates’ belongings unless they’re on the policy
- Expensive items above sub-limits (jewelry, collectibles, cash) unless scheduled
- Business property used for a home business (may need a rider)
How much coverage to buy
Personal property: make a quick inventory. Many renters underestimate the value of clothing, electronics, kitchen items, and furniture. A one-bedroom apartment can easily hold $15,000–$30,000 in belongings at replacement cost.
Replacement cost vs. actual cash value:
- Replacement cost pays what it costs to buy a similar new item.
- Actual cash value subtracts depreciation—a five-year-old laptop may be worth little.
Replacement cost coverage costs a bit more but pays much more after a loss.
Liability: $100,000 is common; $300,000 or more is inexpensive to add and wise if you have savings or assets.
Deductible: $500 or $1,000 is common. Choose an amount you could pay after a loss.
What it costs
Premiums depend on location, coverage amounts, deductible, claims history, and sometimes credit (where allowed). Many policies cost roughly $10 to $30 a month. Bundling with auto insurance often lowers the price.
Landlord requirements
Leases often require:
- A minimum liability amount (for example, $100,000)
- Naming the landlord as an “interested party” (so they’re notified if the policy lapses)
- Proof of coverage at move-in and renewal
Some properties offer to enroll you in their own program if you don’t provide proof—often at a higher cost and sometimes covering only the landlord’s interests. Compare before accepting.
Build a home inventory
- Walk through each room with video, opening closets and drawers.
- Photograph serial numbers of electronics and appliances.
- Save receipts for major purchases.
- Store the inventory in the cloud or email it to yourself.
Filing a claim
- Make everyone safe and call 911 or the fire department if needed.
- Report theft to police and get a report number.
- Notify your landlord of damage to the unit.
- Call your insurer promptly and get a claim number.
- Document damage with photos before cleaning up.
- Keep receipts for hotels, meals, and emergency purchases.
- Don’t throw away damaged items until the adjuster says it’s okay.
- Keep a claim diary of every call and email.
If you disagree with a decision, ask for it in writing, provide more evidence, and contact your state insurance department if needed. See home insurance basics.
After a disaster
Renters may qualify for FEMA rental assistance and help replacing essential belongings, plus low-interest SBA disaster loans up to $100,000 for personal property. FEMA won’t duplicate insurance payments, so file your insurance claim first. See disaster housing assistance.
Frequently asked questions
Can my landlord require renters insurance?
In most states, yes, if the lease requires it. You can usually choose your own insurer; some states limit landlords from forcing you to use a particular company. Subsidized housing programs may have their own rules.
Does renters insurance cover my roommate?
Usually not unless they’re named on the policy. Most insurers require each unrelated roommate to have their own policy, though some allow listing roommates.
Does it cover floods?
No. Renters can buy flood coverage for belongings through the National Flood Insurance Program (contents-only policies) or private flood insurers. NFIP policies usually have a 30-day waiting period.
Is my stuff covered when it’s not at home?
Often yes—many policies cover belongings stolen from your car, while traveling, or in storage, sometimes with lower limits. Check your policy.
What if I can’t afford it?
Basic policies are often inexpensive, and raising the deductible lowers the premium. If your lease requires it and cost is a barrier, ask your landlord or housing program about options; some properties offer group policies.
Sources and verification
Use these sources to check program rules. Funding, openings, and local procedures must be confirmed with the agency handling your application.
- Consumer insurance resourcesNational Association of Insurance Commissioners
- FloodSmart: rentersFederal Emergency Management Agency
- Disaster financial helpUSAGov
Found a changed rule or a broken link? Report a correction for this guide.