Renters Insurance FAQ What is Renters insurance?

Renters Insurance FAQ: What Is Renters Insurance?

Renters insurance is a type of insurance policy designed for people who rent their home, apartment, or condo. It protects you financially by covering your personal belongings, personal liability, and additional living expenses if something unexpected happens.

Here’s a simple breakdown of what renters insurance typically includes:

• Personal Property Coverage – Pays to repair or replace your belongings (like furniture, clothes, electronics, and appliances) if they’re damaged or stolen due to covered events such as fire, theft, vandalism, or certain water damage.
• Liability Protection – Covers legal and medical costs if someone is injured in your rental or if you accidentally damage someone else’s property.
• Additional Living Expenses (ALE) – Helps pay for temporary housing, meals, and other costs if your rental becomes unlivable because of a covered loss.

It’s important to note that renters insurance does not cover the building itself—that’s the landlord’s responsibility. Instead, it focuses on protecting you and what you own.

Overall, renters insurance is an affordable way to gain peace of mind and financial protection while renting, often costing just a few dollars a month.