Renters Insurance

As a renter, you may be exempt from needing homeowners insurance, but you should consider renters insurance to help protect your assets. Many people assume that their landlord’s insurance policy will help cover their personal belongings if an incident occurs, but that is not usually the case. A landlord’s insurance policy will typically only cover the physical structure of your home. Consider investing in a renters insurance policy to ensure you’re completely protected. 

What Is Renters Insurance? 

Renters insurance can help cover personal property losses and liability claims from others. It is designed for people who rent their residence, such as an apartment, condo, house or mobile home. 

What Does Renters Insurance Cover? 

Renters insurance usually includes personal possessions coverage, liability coverage and additional living expenses coverage. Some situations typically covered by renters insurance include: 

• If your personal belongings are damaged or destroyed due to a covered incident, such as fire, lightning, hail, theft or vandalism, it may help you recoup costs.

• If you must move out of your home temporarily, it may help pay for the cost of alternative living arrangements.

• If a person is injured on your property and requires medical attention, renters insurance may help pay for medical costs and legal fees you may incur.

Is Renters Insurance Required? 

Renters insurance is not legally required, but some landlords may demand coverage through a clause in your lease. If you have signed a lease requiring renters insurance, it is your responsibility to fulfill that contract. 

Does Renters Insurance Cover Theft? 

Renters insurance will typically cover theft inside and outside your home, such as from your car or a hotel room. To make a theft claim, you will often also need a police report of the incident. 

Long-term vs. Short-term Renters Insurance 

Long-term renters insurance is for people living in their rented property full-time, and short-term renters insurance is for people renting for a few weeks or months. For example, if you decide to go on a month-long vacation out of state, renting property while you’re there makes sense. Homeowners or renters who sublease their home can also obtain short-term renters insurance. 

It’s important to discuss your coverage needs with an insurance provider to ensure that you have the right policy for your specific situation. 

Renters Insurance Quote in Pleasant Grove, UT 

If you are interested in learning about renters insurance and which policy is right for you, contact Arches Insurance. Our dedicated staff can help you get the cover you need to be protected and give you peace of mind.