What Does Renters Insurance Cover?

If you own your home, homeowners insurance will cover damages to your house as well as many of your belongings. Unfortunately, it’s not so simple if you rent. Your landlord’s insurance will take care of damage to the building but not your belongings.

So if a pipe bursts in your ceiling and ruins your furniture, your landlord will be covered for damage to the ceiling and floors. But you’ll be on your own when it comes to replacing your soggy couch. This is where renters insurance comes in. You can cover your belongings against damage and theft for a rather low cost. Thankfully renters insurance doesn’t just stop there.

Read on to learn about what else can be covered by a renters insurance policy.

What Does Renters Insurance Cover?

A standard renters insurance plan only covers certain types of damage. For example, most cover damage caused by:

This typically shows up in the following types of coverage:

These are the most common types of coverage but you can typically buy other, optional types.

Additional Coverage

Providers usually offer additional coverage, which may include:

What Does Renters Insurance Not Cover?

As important as it is to know what renters insurance covers, it’s equally important to know what it doesn’t. Standard renters insurance typically doesn’t cover the following:

Renters insurance is a smart way to cover your property if you’re renting your home. While it doesn’t automatically cover everything, many insurers offer additional coverage for an extra fee. It’s surely a better deal than paying out of pocket to replace or repair your property.