What is renters insurance?
Renters insurance may protect your belongings and provides liability coverage if you’re responsible for damage or injuries to others. While your landlord’s insurance typically covers the building itself, it generally does not cover your personal possessions. Whether you’re renting an apartment, house, condo, or dorm room, renters insurance can help provide protection when the unexpected happens.
What does renters insurance cover?
- Theft
- Fire and smoke damage
- Vandalism
- Certain types of water damage
- Damage to personal belongings
- Liability if someone is injured on your property
The main types of renters insurance coverage
Medical payments to others
May help pay for minor medical payments if a guest is injured in your home, regardless of fault.
Personal Property Coverage
Helps protect the belongings you own, including furniture, clothing, electronics and other personal items, if they’re damaged, destroyed or stolen in a covered event.
Loss of Use Coverage
Provides assistance with temporary living expenses if a covered loss makes your rental home uninhabitable.
Personal Liability Coverage
Helps protect you if you’re legally responsible for bodily injury or property damage sustained by others.
Additional coverage: Certain high-value belongings, such as jewelry, collectibles, musical instruments, or specialty equipment, may require additional coverage beyond the limits included in a standard policy.
Understanding your deductible
A deductible is the amount you’re responsible for paying before your insurance coverage helps pay a covered claim.
For example, if you have a $1,000 deductible and a covered claim for $10,000 in damage, you would typically pay the first $1,000 and your insurance would help cover the remaining eligible costs.
In general:
- Higher deductibles often result in lower premiums
- Lower deductibles often result in higher premiums
Choosing the right deductible is about finding a balance between your monthly insurance costs and what you would be comfortable paying if you need to file a claim.
Saving money on your insurance
Insurance discounts vary by state, but here are some of the most common:
Automatic Bill Pay
AAA Membership
Bundling
Home Safety Features
You may be eligible for all or some of these discounts. Talk to your agent to learn more.
When should you consider renters insurance?
Renters insurance is worth speaking with an agent about when you’re considering:
- Moving into an apartment, house or condo
- Living with roommates
- Attending college and living away from home
- Purchasing expensive electronics or other valuable belongings
- Building a collection of jewelry, sports equipment or other high-value items
- Looking for liability protection as a renter
Some landlords and property managers may also require renters insurance as part of a lease agreement.
How much coverage do you need?
The amount of renters insurance that’s right for you depends on the value of your belongings, your living situation and the level of liability protection you’d like.
Creating an inventory of your possessions can help you estimate how much personal property coverage you may need. Your AAA agent can help you evaluate your options and understand which coverages may be appropriate for your situation.
FAQ
Get answers to common renters insurance questions
CSAA Insurance Group works as a dedicated, affiliated underwriter, partnering with regional AAA clubs and their agents to provide auto, home and personal umbrella insurance to members.
When it’s time to choose auto and home insurance, we hope you’ll choose AAA. We value our members and work with you to tailor coverages to meet your needs. Call a AAA insurance agent, come into one of our offices or visit us online at AAA.com today.
While it’s possible to purchase insurance from AAA without being a member, becoming a member can have a positive impact on your insurance rates, coverage and experience.
Renters insurance isn’t required by law, but many landlords and property managers may require it as part of a lease agreement.
