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What Does Renters Insurance Cover?

Posted by: Insurance Place by: July 28, 2015

What Does Renters Insurance Cover?

San Diego renters insurance costs about the same as a monthly pizza dinner (plus tip). But that doesn’t stop thousands of San Diego renters from thinking they don’t need or can’t afford it.
Ask yourself: What are your belongings and well-being worth? Because believe it or not you can get the same kind of affordable financial protection that homeowners can. If you’ve been asking yourself, “What does renters insurance cover?” it’s time you got yourself protected.

What is Renters Insurance?

The first step to answering the question of “what does renters insurance cover?” is to define it. Like homeowners insurance, renters insurance can cover your personal belongings from fires, burglaries, and other covered incidents. Renters insurance can also cover the medical expenses from an accident that occurs on your property, as well as liability claims.
Renters insurance can also help you pay for a place to stay. Loss-of-use coverage can prove invaluable to you while your apartment or other rental space is under construction. This puts a reliable roof over your head during an otherwise difficult time of transition.
What does renters insurance cover? Quite a lot, actually!

Are Your Belongings Safe with Renters Insurance?

Your landlord is not responsible for your belongings. He or she is only responsible for insuring the building you live in. Therefore, it’s up to you to protect your stuff.
Wondering how much is renters insurance? The price of your policy will depend on what you choose to insure. Renters insurance can vary depending on what you choose to insure. Insuring the plates, utensils, and even your clothes may not cost you much. But what about your 50 inch TV? Or your vinyl record collection? Or your designer jewelry?
Our monthly pizza dinner estimate for renters insurance still applies. But for a little more (say, a few extra toppings) you can get adequate coverage for all your belongings.

Is Renters Insurance Right for You?

So how much is renters insurance worth to you? As a renter, your home may be temporary, but your most precious belongings are not. The right rental policy can help you replace what you’ve lost.
Try this: Place a dollar amount on each item in your home. Then add them up and see what the total comes out to be. What was the total? $20,000? $30,000? Whatever the number, it should be a pretty good estimate of how much coverage a renters insurance policy can provide for you.

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