Renters insurance protects you and your belongings when you rent a home or apartment. It is usually affordable and covers more than many renters expect.
What renters insurance typically covers:
- Personal property — your belongings, such as furniture, electronics, clothing, and appliances, if they are damaged by a covered event or stolen. Coverage can apply even when items are away from home.
- Liability — legal and medical costs if someone is injured in your rental, or if you accidentally damage someone else's property.
- Loss of use — additional living expenses if a covered event makes your rental temporarily uninhabitable.
What renters insurance does NOT cover: the building itself. The structure is the landlord's responsibility, covered by the landlord's own policy. Importantly, the landlord's policy does not protect your personal belongings — that is exactly the gap renters insurance fills.
Why renters insurance is worth it: if a fire, theft, or covered water event damaged everything you own, replacing it out of pocket would be expensive. Renters insurance covers that risk for a typically low premium, and the liability protection is valuable on its own. Many landlords now require it.
To learn about coverage, see whether RMO offers renters insurance.