Thinking About Getting Renters Insurance? Here’s What You Need to Know

Renters insurance is property insurance that protects the insured against liability claims and pays losses to personal items. It is also known as tenant’s insurance. Under this insurance, your landlord is liable for any injuries brought on by structural issues. This insurance covers anything from a studio apartment to an entire home.

Purchasing tenant insurance could be a wise investment, even if you’re only moving in or staying in a home for a year. It’s likely the cheapest and most straightforward commercial insurance you’ll ever acquire.

What Is Covered by Renters Insurance?

The three main coverage categories of renters insurance are personal belongings, liabilities, and additional living expenses:

Personal Property

This insurance covers the possessions in your rental home. Commonly, specified risks include fire, theft, vandalism, problems with the plumbing and electrical system, some weather-related harm, and other identified hazards.

An ordinary HO-4 policy, as it is known, is for renters and covers losses to personal property from various occurrences, including hail, explosions, riots, damage from an aircraft or car, vandalism, and volcanoes, among others. However, floods and earthquakes are not covered and need separate insurance coverage.


If you’re sued for an injury or other losses at your house, liability coverage protects you up to a specified sum.

 It also covers legal costs and court judgments, which typically start at $100,000 and can go up to $300,000. You must get an umbrella policy if you require coverage above that level. Depending on how much financial coverage you need or how much you wish to spend each month, different policies have a variety of exclusions or limits.

Increased Living Expenses

With this coverage, you’ll be given money to cover the cost of temporary accommodation if one of the listed risks renders your apartment unusable.

Hotel costs, dining out, short-term housing, and other expenses are paid while your home is being renovated.

What Is Excluded from Renters Insurance?

You should be aware that numerous events, such as sewage backup into your house, earthquakes, floods, and other “acts of God,” are not always automatically covered by most insurance. You can, however, pay more to have these items covered if you believe you are at high risk.

Additionally, you might need to get floater insurance as a rider to cover any extremely expensive or precious objects you own, such as high-end electronics, fine jewelry, musical instruments, or a significant collection of artwork and antiquities. In addition, a separate rider might be required to cover hurricane-related wind damage in some places.

Additionally, the renters insurance coverage does not cover losses brought on by the tenant’s carelessness or deliberate actions.

Renters Insurance

Follow these simple steps to get renters insurance for yourself:

  • Decide what insurance you need
  • Select an insurance provider
  • Launch the program and adjust your policy
  • Purchase your policy

Consult with Isu Wissink for the Best Renters Insurance

A good question is, “Why should I obtain tenant insurance?” An appropriate answer would be that it prevents mishaps and irritations from destroying finances and spending plans. Remember that while your landlord insurance protects their building, it never covers your belongings. Therefore, you are the only one who can defend your property and yourself—looking for commercial tenant insurance? Get in touch with our team at Isu Wissink today.