Renters insurance protects your personal belongings and provides liability coverage if you rent your home. It's one of the most affordable types of insurance, typically costing $15-30 per month.
What Renters Insurance Covers
Personal Property: Covers your belongings (furniture, electronics, clothing) against theft, fire, vandalism, and other covered perils.
Liability Protection: Covers legal costs and damages if someone is injured in your rental or if you accidentally damage someone else's property.
Additional Living Expenses: Pays for temporary housing if your rental becomes uninhabitable due to a covered event.
Medical Payments: Covers minor medical bills for guests injured in your home, regardless of fault.
What It Doesn't Cover
- Your landlord's building or structural damage
- Flood or earthquake damage
- Your car or pets
- Your roommate's belongings (unless named on the policy)
- Intentional damage
Replacement Cost vs. Actual Cash Value
Replacement Cost: Pays to replace items at current retail prices. Slightly more expensive but much better coverage.
Actual Cash Value: Pays the depreciated value of items. Cheaper premiums but lower payouts.
Always choose replacement cost coverage — the premium difference is minimal.
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Written by the Ensureing Team
Updated March 2026 · 3 min read
