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Renters Insurance Quotes

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If you rent the place you live in, you probably need a renters insurance policy. Did you know your landlord's insurance only covers the actual building you live in, not your personal belongings? It is up to you to purchase insurance to cover your own belongings, as well as to provide the liability protection you need. Visit NetQuote to get FREE, no-obligation renters insurance quotes from top providers to find out how affordable this coverage is.

A typical renters insurance policy will cover what are called named perils, which are specifically outlined in the insurance policy. These named perils usually include events such as fire, theft, explosion, and windstorm, in addition to other events. The named perils found in a renters insurance policy are very similar to what you would find in a typical homeowners policy, but apply to your personal possessions, not the actual structure you live in.

In addition to the basic personal property protection a renters policy provides, additional coverages, as well as increased limits, may be purchased. For example, generally there are limits on high value items such as jewelry, and if an insured has jewelry valued at more than what the basic policy provides coverage for, they can get a valuable personal property endorsement. This allows for increased limits on the high value items that are specifically covered on the valuable personal property endorsement, for an additional cost.

A renters insurance policy will also provide liability coverage which pays for injuries and medical expenses to third parties that occur on the property that you rent. There are two parts to liability protection - liability coverage itself, and medical payments.

Liability coverage pays when you are found liable for bodily injury of a third party, or damage to property owned by another person. However, a renters policy generally excludes coverage for intentional acts, therefore is designed for accidents only.

Medical coverage helps pay the medical costs for those visiting your home who suffer an injury, regardless of fault. This does not apply to the insured, or those that live with the insured. Medical payments is a way for an injured individual to get the medical care they need, without having to sue for damages.

Liability coverage gives you protection when people are visiting you, giving you one less thing to be concerned with. Don't think that just because you are not a homeowner you don't need to carry liability protection. Every adult needs to have some form of liability protection in place, and a renters policy is an ideal way for non-homeowners to get this valuable coverage.

View the below table to get an idea of what other coverages are available on the typical policy. Please note that while some coverages are universally available, regardless of the provider, each insurance company is going to offer slight differences, trying to distinguish themselves from their competition. Just be aware of what you need and ensure the policy you choose has what you are looking for.

When getting renters insurance quotes, pay attention to how the policy pays out when your personal possessions are damaged or destroyed. There are two choices - Actual Cash Value and Replacement Cost Coverage. Actual Cash Value pays based on the depreciated value of the item, which is usually less than what it will cost to replace it, where Replacement Cost Coverage pays based on the actual cost to replace the item with one of similar quality and function. Replacement Cost Coverage is better to have, but will usually cost a bit more.

Take an inventory of the personal items you have to get an idea of how much coverage you need, then visit NetQuote to get FREE, no-obligation renters insurance quotes from leading insurance companies.



Renters Insurance Coverages


Included* Optional*
Property Coverage - Protection against the theft, loss, or destruction of property owned by the insured. The Renters policy will specify what constitutes a covered peril (such as fire, theft, etc.), and will only pay out when the loss is due to a covered peril. Not every event will be covered by a Renters policy, so be familiar with the coverage being purchased. checkmark no-x
Personal Property - Coverage for the personal, tangible property owned by the insured, including furniture, electronics, clothes, etc. There are generally limits set for the coverage of higher value items such as jewelry, monies, securities, firearms, and silverware. However, additional coverage for such items can be purchased if the included limits are insufficient (see below). checkmark no-x
Valuable Personal Property - Because there is usually a coverage limit for certain high value items, including jewelry, silverware, fine arts, coins, cameras, guns, etc., the insured can purchase additional coverage for such items. If the standard policy limits to cover high value items are insufficient, then the insured will need to opt for valuable personal property coverage, which protects scheduled (and possibly unscheduled) items up to the limits specified on this optional coverage. no-x checkmark
Personal Computer Coverage - Typically, there are lower included limits for personal computers and associated software/hardware, which means coverage for such items will be lower than the policy's personal property limits. If the basic limits are insufficient, higher limits may be purchased. checkmark checkmark
Replacement Cost Coverage - Many renters policies reimburse the insured for personal property losses based on an "actual cash value" basis, which takes into consideration depreciation (loss of value due to use). You may have the option to add on "replacement cost coverage", which reimburses the insured for the actual cost to replace the item, without taking depreciation into consideration. Some policies include replacement cost coverage standard, at no additional cost, but most will charge for this. no-x checkmark
Liability Coverage - Protection against personal liabilities the named insured faces, as well as accidents that may occur to a third party on the insured premises. checkmark no-x
Personal Liability - Provides coverage when the insured is responsible for bodily injury to a third party, or for damage to property owned by a third party. This provides coverage on and off the insured premises, and may cover damages caused by some of the insured pets. May include coverage for legal costs associated with defending the insured in liability claims. checkmark no-x
Medical Payments - Medical payments covers medical expenses for third parties that were injured on the insured property, regardless of fault. This coverage does not apply to the insured or regular residents of the insured household. checkmark no-x
Additional Living Expenses - If the named insured's residence is damaged and uninhabitable due to a covered peril, additional living expenses provides payment to help with the costs associated with finding another residence. checkmark no-x
Identity Theft Coverage - While some Renters policies may include coverage to help an insured fight identity theft, it is an optional coverage from most insurance providers. no-x checkmark
Motor Vehicle Coverage - A Renters policy does not provide coverage for motor vehicles, including certain watercraft, off road vehicles, aircraft, and cars/trucks. An appropriate, separate, policy will need to be purchased if this type of coverage is required. no-x no-x
Business Pursuits - Renters insurance typically does not include coverage for business pursuits, which means business equipment is not covered, nor is liability arising from the operation of a business covered. A separate business insurance policy will need to be purchased if business coverage is required. no-x no-x

*Policy Limits - Each section of a policy has its own limits, which is the maximum amount the insurance company will pay per occurrence, subject to the deductible amount chosen by the insured. This means that if personal property limits are $25,000, but the insured's tangible personal items costs $35,000 to replace after a total loss due to a covered peril, then not only is the policy holder underinsured, but the insurance company will only pay out to the policy limits of $25,000, leaving the policy holder on the hook for the remaining $10,000. It is vital to ensure a Renters policy limits are sufficient to cover all personal property, as well as cover all liability exposures. Renters policies are generally reasonably priced (because they don't cover a physical structure), so it is important to purchase the coverage one needs instead of choosing low limits.





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