What Does Renters Insurance Cover? - Nationwide (2024)

FAQs

What does renters insurance actually cover? ›

Renters insurance typically covers fire, windstorms, lightning, explosions, theft, and vandalism. Your personal property, personal liability, additional living expenses, and guest medical expenses are usually covered under your renters insurance.

Items not covered with renters insurance include: Personal property loss that exceeds the coverage limits on your renters insurance policy. Liability situations that exceed the limits on your policy. Damages caused to the structure of the building you are renting (which is covered by your landlord's homeowners policy).

Renters insurance is an insurance policy that can cover theft, water backup damage, certain natural disasters, bodily injuries and more in a rented property.

Unlike flood damage, water damage is typically covered by renters insurance. For instance, if your washing machine suddenly breaks resulting in water damage to your apartment and the belongings inside, your renters insurance policy will usually cover the costs.

Renters insurance has three basic coverage components: personal possessions, liability, and additional living expenses.

Standard renters insurance in California covers a wide range of perils, including fire, theft, vandalism, water damage from burst pipes or appliances, and certain natural disasters like lightning, windstorms, and hail.

Flooding, earthquakes and sinkholes are all examples of natural disasters that are not covered by a typical renters insurance policy. All three of these events can easily damage your personal property, so you should buy additional coverage if you think you're at risk.

Earthquake, flood, mold, earth movement, and “wear and tear” are some of the perils that are usually excluded.

Your renters insurance policy will cover food that is damaged or lost in your fridge, freezer, or kitchen due to certain specific causes—like fire, water from burst pipes, or certain power outages that are caused by direct damage to your property. Always keep in mind that every claim is unique.

Renters insurance deductibles can range from $250 to $2,500, although $500 and $1,000 are the most common options. You will generally have to pay a deductible on personal property insurance claims but may not have to pay a deductible on your other coverage types.

Why do people need renters insurance? ›

Renters insurance protects your belongings from loss, damage, or destruction following things like burglaries, fires, tornadoes and other covered events. Plus, renters insurance also protects your liability (and your money) if someone is injured at your rental home or apartment.

Renter's insurance provides coverage for your personal belongings, whether in your home, car or with you while you're on vacation. In addition, renter's insurance provides liability coverage in case someone is injured in your home or if you accidentally cause injury to someone.

A standard renters insurance policy typically won't cover water damage from sewer lines. However, some renters insurance companies may offer optional coverage for water back-up and sump overflow, which safeguards you in case of a sump pump mishap or clogged sewer.

Yes, renters insurance protects your belongings if they're damaged by leaks from the ceiling. For example, if water drips from another apartment or comes through the roof, and damages your couch or television, renter's insurance can help replace your items. In this case, you'd want to make a claim with your insurer.

If the pipes servicing your hot water heating system or sprinkler system suddenly crack, they could leak water into your apartment. A leak in an air conditioning unit could also cause problems. Your renters insurance policy will cover the damage to your personal property if those systems tear, crack, burn, or bulge.

Your insurer may also pay for mold remediation in that scenario, as well as lodging if you need to live elsewhere while the mold is removed. However, if the mold resulted from your negligence, then you typically won't be covered.

Yes, renters insurance typically covers dog bites unless your dog is on the restricted breeds list or has bitten someone in the past. Renters insurance is a good idea for most dog owners because it covers dog bites and other damage your pet might cause others.

No, renters insurance doesn't typically cover damage caused by pests or extermination costs. However, mice, bed bugs, and other pests may be your landlord's responsibility.