What does renters insurance cover?

renters insurance

Renters insurance covers damage to or theft of personal property, personal liability damages, emergency medical expenses for guests and additional living expenses if you need to temporarily relocate. However, your insurer will not reimburse you for every event related to these coverages, as only certain events qualify for a claim.

Renters insurance protects tenants from the costs of unexpected personal property damage, theft and legal liability. This coverage can be bought by anyone renting an apartment, condo, home or other living space. Although the coverage is similar to homeowners insurance, key differences include:

  • Renters insurance does not cover the structure, or dwelling, where the tenant lives. Damage to the building is the landlord’s responsibility and would likely be covered through a landlord insurance plan.
  • Renters insurance is much cheaper than homeowners insurance.

Basic renters insurance coverages

Helps protect your furniture, clothing & other items from covered losses.

Loss of use
Provides reimbursement for additional living expenses when a covered loss prevents you from living in your home.

Personal liability
Get help paying for covered damage or bodily injury caused by an accident that occurs in your home.

Medical payments to others
May help pay for medical or funeral expenses for someone who is injured on your property.

Building additions & alterations
Pays for covered damages to additions, alterations, fixtures, improvements or installations that you make to your home.

Check out the US News report on the best providers of renters insurance.

Contact Coastline Property Management

Coastline Management provides property management services for your investment and lists homes for rent in Savannah and surrounding areas. We want to make your experience in finding your next dream home an enjoyable one!