Renters insurance helps protect you and your belongings if the unexpected happens. It covers everything from your couch to your coffee mug. In addition to coverage limits in the base policy, you can also elect to increase overall coverage for personal property, including high-value items such as art and jewelry.

What Is Renters Insurance?

Regardless of where you live or what you live in, you want to to protect your belongings, lifestyle, and well-being. If you’re renting an apartment, home, or condo, that protection comes with having renters insurance.

A renters insurance policy operates similarly to a homeowner’s insurance policy. It covers what you own, protects you from any changes or small renovations you make, and has provisions in case you cannot live in your apartment.

What Does Renters Insurance Cover?

A renters insurance policy operates similarly to other insurance policies. It protects you against unforeseen occurrences, such as a fire, flooding, or any damage to the structure of your residence. It also covers your valuables and what you own from theft or damage.

Personal Property: A renters insurance policy covers any valuables, clothes, furniture, or electronics that are either stolen or damaged. You would need to provide the insurance company with a complete list of what you own. The policy does not cover any appliances that came with the rental unit when you moved in.

Liability: With a renters insurance policy, you’ll be covered if any renovations you performed caused damage to the property or any injuries to another tenant or visitor. In the event of damage to the property caused by a renovation you performed, the costs to repair that damage — and the cost of the medical bills for injuries to other tenants or visitors should they occur — are covered.

Expenses: Rental insurance covers your expenses if you cannot live in your primary residence. So, if the apartment, house, or condo you rent is damaged to the point of it being uninhabitable, then any hotel, meals, and storage expenses are covered.

Overall, renters insurance provides financial protection for damages to personal property and liability protection if someone is injured on the property. It can give renters peace of mind and financial security.

Why Should I Get Renters Insurance?

The best reason to get renters insurance is that it provides considerable protection at a highly affordable cost. The monthly premiums are more than reasonable, and you’ll have peace of mind knowing that any damage to the property or your belongings is covered.

It simply makes sense to have the security of knowing you’ll be protected in case something happens. Take John for example. He’s a federal employee who recently moved into a new apartment in the city. One night, he wakes up to the sound of his smoke alarm and sees that his kitchen is on fire. He quickly calls 911 and rushes out of the apartment.

The fire department arrives and puts out the fire, but John’s apartment is left with significant smoke and water damage. All of his personal belongings, including his furniture, clothes, and electronics, are ruined.

Since John purchased renters insurance before moving into his new apartment, he’s able to file a claim with his insurer, who covers the cost of replacing his personal belongings and pays for a hotel room while his apartment is being repaired. Without renters insurance, John would have had to pay for everything out of pocket, which could have been financially devastating.

Bundle and Save with United Benefits

A United Benefits Specialist will compare rates to help you find the best coverage for you and your family. We provide customizable, competitively-priced renters policies that fit your needs and budget. Get in touch by filling out the form.