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What Does Renters Insurance Cover?

If you live in a house or apartment in a major city, you most likely have been required to purchase renters' insurance. But what exactly is it? Renters' insurance is designed to protect individuals that live in a house or an apartment that they do not own. It resembles a homeowners' insurance policy, but does not include the coverage for the actual building structure. While the name does sound pretty straightforward, renters' insurance offers individuals a lot of additional opportunities so we believe it is important for us to explain it better!

Renters Insurance

It is typical for a renters' insurance policy to protect three things: you, your belongings, and your living arrangements after a covered loss.


Renters' insurance can protect you if you accidentally hurt someone or damage their property. This protects you from paying out of pocket for certain costs if you are found legally responsible for another's losses. For an example, if you kick a soccer ball through your neighbor's apartment window and it damages a expensive piece of art, your renters' insurance may be able to protect you.

Personal Property

All renters' insurance policies cover your personal property in case your assets are unexpectedly damaged or destroyed. This protection typically applies to certain risks, such as your furniture being destroyed in a fire or your watch being stolen out of your car.

Before getting renters' insurance, try to think about the total worth of your assets. By this, we mean anything with fair value such as a television, expensive jewelry set, or art. This is important to do when buying renters' insurance so you can accurately set your coverage limits of your policy.

There are also different types of Personal Property coverage to choose from. Replacement cost replaces your damaged or destroyed assets without deducting for depreciation. Actual cash value (ACV) determines your assets' values by taking the cost to replace your belongings and subtracts depreciation.

Additional Living Expenses

In the unfortunate event that your rented house or apartment burns down and you have nowhere to live, your renters' insurance can help cover these expenses. Depending on the policy, this can include any hotel bills or additional food expenditures above the amount you typically spend.

Renters' insurance policies can protect much more than just your assets in your apartment; they can protect you! Learn more about this type of coverage by contacting one of our risk managers today!


Let Nottingham Insurance be there for you when life happens. Call us at (609)587-1600 or email us at

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