GEICO has no control over their privacy practices and assumes no responsibility in connection with your use of their website. Any information that you provide directly to them is subject to the privacy policy posted on their website. If you're a renter, you may not think you need insurance at all. Your landlord already has insurance on the building, right?
But you may not realize that your landlord's policy doesn't cover any of your personal property. What would happen if:. A renters insurance policy protects you and your belongings from the unexpected. Think about it, could you afford to replace all your personal items if they were destroyed in a fire? A renters insurance policy can help cover the expenses, up to your limits, to help replace your personal property and help you with temporary living expenses if your apartment is damaged by a covered loss and you cannot stay there.
Renters insurance also provides coverage to help protect you against claims that others make against you. Too often, people think they don't have enough property to make a renters insurance policy worthwhile.
But take a minute to think about what you own, and what you've got to lose, including:. Your renters policy will state exactly what you're insured against. In the insurance world, it's known as "named peril" coverage.
Your coverage will also include liability protection, which generally covers injury to another person on your property. If necessary, your policy can even pay for your legal defense in these circumstances. Many landlords actually require tenants to purchase renters insurance with specific liability limits, especially if they own pets. Additionally, your policy will include medical payments coverage that pays for medical expenses of people who don't live with you, but who are injured on your property.
A renters insurance policy does not provide coverage for your belongings if they're damaged under certain events. Generally, natural disasters such as earthquakes and flooding are excluded, however, specialized policies may be available for these events.
There may be other events that aren't covered under your policy. You should always review your policy documents and contract to be sure. Specific limits of coverage available for items such as jewelry, art, and antiques may also apply. Make sure you select enough coverage to protect your items. How much coverage you choose to buy and what deductibles you select affect the price of your policy. Coverage limits vary, and you will want to select an amount that safely protects your belongings.
The deductible is the amount you are agreeing to pay before your benefits apply. Higher deductibles lower your insurance cost, while lower ones raise it. Think of it as how much you are willing to pay out of pocket if you have a covered loss in exchange for a lower monthly renters insurance payment. How to get renters insurance. Show More. What is renters insurance? Renters insurance definition. Type of coverage. What it does. Personal property.
Loss of use. Medical payments. Fire or lightning. Windstorm or hail. Riot or civil commotion. Damage caused by aircraft. Damage caused by vehicles. Vandalism or malicious mischief. Volcanic eruption. A falling object. The weight of ice, snow or sleet. Loss of use, or additional living expenses. Liability insurance. Replacement cost coverage. Scheduled personal property. Identity theft coverage. Flood damage. Learn how to find the best flood insurance.
Earthquake damage. Check the policy to be sure; in many cases such coverage applies only to students living in on-campus housing. It may also be limited to a certain dollar amount. Frequently asked questions Does renters insurance cover theft? Does renters insurance cover a storage unit? Does renters insurance cover mold?
Does renters insurance cover broken windows? Such terms may vary by state, and exclusions may apply. Exclusions and limits apply. Damaged items may be repaired in some cases.
Details vary by state and policy language. Please consult your policy for the specifics of your selected coverages. Subject to underwriting guidelines, review, and approval.
Clipboard-flat Claims Envelopes-flat Pay a bill. All insurance products ». For your ride. Life Pet Dental Umbrella Identity theft. Accident medical Specialty liability Travel Wedding. All financial goals ». Investing insights. This protection generally applies to certain risks also referred to as "perils" , such as fire, according to the Insurance Information Institute. For example, if your furniture and clothing are destroyed by a fire, this coverage may help you pay for the cost of replacing them.
However, remember that coverage limits — the maximum amount your policy will pay for personal property losses — will apply. Keep in mind that personal property coverage is usually subject to a deductible. This means you'd have to pay a certain amount of money toward the covered item's repair or replacement before your insurer will help pay for the loss. Be sure to read your insurance policy carefully to understand what may or may not be covered.
Think of everything you own. The value of your belongings can quickly add up. How much would it take to replace them if they were damaged or destroyed? When purchasing a renters insurance policy, you may have a few different choices when it comes to selecting personal property coverage. Here are a few things to keep in mind:. Personal property coverage may not help protect everything you own. Certain types of belongings, such as jewelry or a coin collection, have limited coverage under a standard renters insurance policy.
You may be able to add additional coverage, called scheduled personal property coverage , to your policy to help protect your valuables. A local insurance agent can help you determine whether this coverage makes sense for your situation. Liability coverage is another protection typically included in a renters insurance policy. This coverage may help protect you from paying out of pocket for certain costs if you are found legally responsible for injuries to other people or damage to their property.
You probably don't expect an accident to occur. But, if your child throws a ball through a neighbor's window or you're held responsible for medical bills after a guest trips and falls in your rented home or apartment, for example, liability coverage may help cover the costs.
Similar to other coverages, limits apply to the amount your insurance policy pays out after a covered loss. Read your policy to understand how much coverage it provides and make sure it fits your needs. Your insurance agent can help you adjust the limits if you decide you may benefit from additional coverage.
If you're renting a house or apartment, you typically have a place to call home until your lease expires. But what if your rented home is damaged by fire, for instance, and you're unable to live in it? That's where renters insurance may help. Renters insurance usually includes coverage for additional living expenses.
This coverage helps pay for additional costs you incur because you are unable to live in the home you're renting after a covered loss. Covered costs may include hotel bills or additional food expenditures that are above the amount you would typically spend.
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