Protect what’s important to you.

Having renters insurance is an easy way to make sure your belongings are covered if they're damaged or stolen, and to help if you accidentally cause damage to others or their property.

Need Renters Insurance?

Many people prefer the freedom of renting over the responsibilities of homeownership. Renters don’t have to contend with mortgage insurance or high interest rates to pay off their home. They don’t have to worry about selling a house in order to move. And with no property taxes or homeowners association fees to pay, renting offers an affordable solution.

However, renting does not remove the need to have insurance to protect your personal property. Fire, natural disasters, theft, liability, and other events that can cause significant financial loss can also happen when you rent. Without renters insurance, you’ve got no coverage for personal property loss or damage.


What Is Renters Insurance?

When you rent a house or apartment, the landlord is not responsible for your personal belongings. Renters insurance provides coverage for your personal belongings in the home, but does not cover damage to the actual dwelling or structure like a homeowners policy. Because it covers fewer risks, apartment renters insurance typically costs much less than homeowners insurance.



What your policy covers:


Personal property

Covers damage, destruction or theft of your personal property.

Personal liability

Pays for loss settlement and legal fees in the event that an insured party causes bodily injury and/or property damage to others.


Mold Protection

Provides coverage for the identification, testing and removal of wet or dry rot, fungi, or bacteria in your home, and covers the cost to repair any property damaged during the removal and remediation process.


Medical payments to others

Pays for medical bills when someone is injured on your property, regardless of fault.

What Does Renters Insurance Protect Against?

Renters insurance is designed to protect against financial loss due to circumstances beyond your control. It offers coverage that reimburses the replacement cost of personal property that is damaged or lost while you reside in the home. Basic renters insurance coverage typically includes:

  • Personal possessions. Covers damage, destruction or theft of your personal property. This includes damage from most natural disasters, including fire, hail, rain or windstorms.
  • Liability. This pays for medical and legal fees if someone gets injured on the property where you live. Expenses covered range from basic medical care to ambulance and emergency room costs, hospital stays, and more. Some policies also pay for lost wages during medical treatment and rehabilitation.
  • Theft. Renters insurance offers optional coverage that reimburses the replacement cost of personal property that gets stolen. Very high-value items such as jewelry or computer equipment may require the purchase of optional coverage at a reasonable cost.
  • Loss of use. If your residence gets damaged to the point where you need to find a temporary place to live, the landlord is not required to pay for those costs. Renters insurance will cover them, including paying for a hotel or other temporary lodging while you look for a place to live while your rented home is being repaired.
What Are the Benefits of Getting Renters Insurance From Homesite?

The most intangible benefit from renters insurance is peace of mind. Even when you don’t own the home or apartment you live in, damaged, destroyed, or stolen possessions can cost tens of thousands of dollars to replace. Renters insurance lets you sleep well at night knowing you won’t be financially ruined if the unexpected occurs.


Other benefits include:

  • Replacement of valuables. Many people possess expensive jewelry or artwork. Others have valuable antiques or family heirlooms that have been passed down for generations. Although it may cost more, renters insurance can cover these and other high-value items.
  • Libel and identity theft. Most renters policies also offer coverage for identify theft, libel, slander, invasion of privacy, and other risks that don’t involve bodily injury or damage to your property.
  • Coverage away from home. Renters insurance can protect against damage or theft to your personal belongings - even if they occur away from home. For example, if your cell phone or laptop get stolen while on vacation or a business trip, your renters policy can cover it.
  • Affordability. The cost of basic renters insurance can be surprisingly low. The amount of coverage you get for the cost makes it a very smart investment.
  • Earthquake protection. Damage from these types of disasters tend to be more extensive and expensive to repair. As a result, it is typically not covered with basic renters insurance. Most policies will allow you to add this coverage for an additional fee.


Add additional coverages to customize your policy:


Identity theft protection

Covers up to $15,000 of expenses you incur as a direct result of identity theft.


Personal injury protection

Protects you against claims of libel, slander, and invasion of privacy under your homeowners insurance policy.

Coverage for valuables

Offers open perils coverage for your valuable items such as jewelry, furs, cameras, musical instruments, silverware, fine arts, and golfer’s equipment.


Increased limits on personal property

Extend personal possessions coverages beyond the standard limit.

The Advantage of Getting Renters’ Insurance with Homesite Insurance

If you think all renters insurance companies are alike, take a close look at Homesite. We were one of the first companies to enable customers to purchase home insurance directly online during a single visit, and we continue to make it quick and easy to get a policy from us.

We have broad geographic coverage and write in almost every state. We provide comprehensive insurance that covers the major risks renters face - and we offer fast, easy claims processing online and over the phone.

For a reasonable additional fee, you can ensure replacement of your personal property whether you rent a home or apartment. Get a renters insurance quote from Homesite today.


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Renters Insurance FAQ
+ Q: Is renters insurance required?
A: Renters insurance is not mandated by law. However, your landlord or management company is legally allowed to require you to have renters insurance as stated in the lease agreement. Landlords don’t often ask you to have personal property coverage, but they usually require liability up to a $100,000 limit. Some property management companies may have higher limits.

Landlords who require renters insurance generally do it for three reasons:
  • It lowers their liability if you or someone else gets injured in the rented home or apartment.
  • It keeps you from trying to collect damages for additional living expenses or if your personal property gets damaged or destroyed.
  • If you cause accidental damage through fire to the rented home or apartment, the liability coverage of your policy will cover the damage. The landlord’s insurance should also pay for the cleanup and repairs. However, if this is the case the landlord can recover the cost of the deductible through your home renters insurance.
+ Q: What does a typical renters insurance policy cover?

Most basic home and apartment renters insurance covers the following:

  • Personal property. Protects your belongings from theft, damage and destruction. Most policies will protect your property even if it gets stolen outside of your rented home.
  • Personal liability. Covers the legal fees and settlement costs if you cause accidental bodily injury or property damage to another person.
  • Medical payment to others. Pays for the medical bills if someone gets injured on your rented property. No matter who is at fault, medical payment covers it.
  • Additional living expenses. Also called “loss of use,” this pays for living expenses that exceed normal living costs if you can’t live in your apartment while it is being repaired.

Common optional coverages that can be added to a policy include:

  • Replacement cost (instead of actual value) for personal property
  • Replacement cost (instead of actual value) for personal property
  • Earthquake
  • Increased coverage on valuable personal property (art, jewelry, etc.)
+ Q: Is flood insurance included in renters insurance?
A: No. Protecting against flood damage requires a separate policy that covers damage resulting from rain, melting snow, storm surge, broken dams or levees and storm surge. Flooding due to broken water pipes is covered by most basic renters insurance.
+ Q: What is the cost of renters insurance?
A: The average cost of renters insurance in the U.S. is $187 a year*, less than $16 a month. However, rates can vary widely from state to state, and are based on a number of factors. These include your location (which state you live in), your credit score, and the coverage amount you select for your personal possessions. Other factors have to do with how much coverage you want, the amount of the deductible, and whether you select actual cash value or replacement cost coverage for your possessions. So while $187 a year provides a ballpark figure, a renters insurance policy could cost you more or less. Either way, you may be surprised to learn that it doesn’t cost as much as you think.

+ Q: What does a person need to consider when choosing renters insurance?
A: The main purpose of renters insurance is to protect your belongings (property) and your net worth (liability). When considering what kind of insurance to buy and how much coverage you need, ask yourself the following questions:
  • Does the landlord require renters insurance for your apartment? If so, what type and to what limits?
  • How much would it cost to replace my personal property?
  • Do I want actual cash value or replacement cost?
  • How much liability coverage do I need?
  • What deductible do I want to pay? (The higher the deductible, the lower the premiums.)/li>
  • Do I need optional coverage? If so, what type and how much?