Renter's Insurance
Policy Basics

How does renter’s insurance work?

Renter’s insurance can help cover your belongings, your housing costs if you must relocate temporarily, your personal liability including defense costs, medical bills for others and more.

Imagine what would happen to your furniture, clothing, or electronics if there was a fire, sudden water damage from a burst pipe, or a burglar broke into your apartment and took your belongings. Now think about what would happen if someone slipped in your kitchen or your pet damaged someone’s property while they were visiting you.

To understand renter’s insurance policies, think of them as having three key elements:

  1. Premium – This is what you pay for coverage.
  2. Deductible – This is how much you’re responsible for paying out-of-pocket before your insurance starts to cover the costs of a covered claim.
  3. Limit – This is the most your insurer will pay for a covered claim as specified in your policy.