Renters Insurance Explained: What It Covers and Why You Need It

Introduction

Many renters mistakenly believe that their landlord’s insurance covers their personal belongings.

In reality, it doesn’t. If there’s a fire, theft, or water damage — you’re on your own.

That’s where renters' insurance comes in. In this guide, we’ll explain what it covers, why you should consider getting it, and how much it typically costs.

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What Does Renters Insurance Cover?

• Personal Property – Covers furniture, electronics, clothing, and more if damaged or stolen.

• Liability – Protects you if someone gets injured in your rental or if you damage someone else’s property.

• Additional Living Expenses – Covers hotel stays and meals if you’re temporarily displaced.

• Medical Payments – Pays medical costs for guests injured in your home, regardless of fault.

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What Renters Insurance Doesn’t Cover

• Damage from floods or earthquakes (requires separate policies)

• Your roommate’s belongings unless specifically added

• Damage caused by pests like bedbugs or rodents

• Intentional damage or illegal activity

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How Much Does Renters Insurance Cost?

Renters insurance is surprisingly affordable. In 2025, the average cost in the U.S. is around $15–$25 per month for $30,000 in property coverage and $100,000 in liability coverage.

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Why You Shouldn’t Skip Renters Insurance

• Protects your valuables against unexpected events

• Provides legal protection and peace of mind

• Often required by landlords or property managers

• Affordable and customizable to your needs

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FAQ: Renters Insurance

Q: Do I need renters insurance if my landlord has insurance?

A: Yes, landlord insurance only covers the building — not your personal belongings or liability.

Q: Can I get renters insurance with bad credit?

A: Yes, but it may slightly affect your premium. Many providers still offer competitive rates.

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Final Thoughts

Renters insurance is a low-cost way to protect your belongings and your finances.

It’s one of the smartest decisions any renter can make — and in most cases, it costs less than your monthly streaming subscriptions.

• Easily calculate your insurance cost and find the best provider for your needs — start now using the calculator at the link below: Safe Home Estimator | COVERADAR

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