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Renter's Insurance Fact Sheet

Joseph D'Amico

February 1, 2023

Dee Dev Staff

Renter's Insurance Fact Sheet

Basic Information

May cost as low as $10 dollars a month and can be bundled with your car insurance.
You may think you don't need renter's insurance at all; however, your landlord's policy may not cover your personal property.
Renter's insurance is key in cases of fire, theft, water damage, and/or unexpected costs of vacating.

Important Facts

1. Protection for Personal Property

Renter's insurance provides protection against physical damages to your personal property. For instance, if your laptop was stolen from your apartment the portion of your insurance that covers physical damage would reimburse you.

2. Liability Protection

Renter's insurance also provides liability protection. If you are in need of any legal defense either for an injury or accident that occurred on the property renter's insurance will provide you with legal aid.

3. Standard Renter's Insurance covers you against the following:

Falling objects
Smoke
Theft
Vandalism
Water-related damage
Gas explosion
Electrical surge damage to appliances
Lightening or fire damage

Helpful Tips

See that you have the best policy for you and your living circumstances by getting at least two different quotes.

Make sure the policy provides "replacement cost coverage" rather than "actual cash value coverage"

Companies to Consider

Always call your insurance company first to see if they underwrite Renter's Insurance. This can save you money by bundling your policies. If your current insurance provider does not underwrite Renter's Insurance then consider calling the following companies.

Allstate

Geico

State Farm

Progressive

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