Renters Insurance

What is Renters Insurance?

Renters insurance is a type of insurance policy designed to protect tenants from financial losses due to unexpected events like theft, fire, or liability claims. While a landlord's insurance covers the building itself, renters insurance ensures your personal belongings and potential liabilities are covered.

What Renters Insurance Covers:

• Personal Property Protection – Covers damage or loss of personal belongings (e.g., furniture, electronics, clothing) due to fire, theft, vandalism, or certain natural disasters.
• Liability Coverage – Protects you if someone is injured in your rental unit or if you accidentally cause damage to someone else’s property.
• Additional Living Expenses (ALE) – Covers temporary housing costs if your rental becomes uninhabitable due to a covered event (e.g., fire or storm damage).



Renters insurance is an affordable way to safeguard your possessions and protect yourself from unexpected financial burdens, providing peace of mind while you rent.

What is the difference between renters and homeowners Insurance?

Renters insurance and homeowners insurance both provide financial protection, but they differ in coverage and who they are designed for:

Key Differences:

• Property Ownership:
• Homeowners Insurance: Covers both the structure of the home and personal belongings.
• Renters Insurance: Covers only personal belongings, as the landlord’s policy covers the building itself.
• Liability Protection:
• Both policies provide liability coverage if someone is injured in your home or if you accidentally cause damage to someone else’s property.
• Additional Living Expenses (ALE):
• Both policies cover temporary living expenses if your home/rental is uninhabitable due to a covered event.
• Mortgage vs. Lease Requirement:
• Homeowners Insurance: Typically required by mortgage lenders.
• Renters Insurance: Sometimes required by landlords but usually optional.