Even if you don’t own your own home, and you rent instead, your house is still your home. And chances are that home – rented or otherwise – is where you spend most of your time. It’s probably also where you keep many of your most important possessions, which, for most of us, carry lots of emotional or financial value (or both!).

Similar to homeowner’s insurance, renter’s insurance helps to protect you and all of your valuable belongings in the case of an unexpected disaster. It’s not a scenario that anyone likes to think about being thrust into, but it’s one we all need to protect ourselves against nonetheless.

 Do I Really Need Renter’s Insurance?

Yes, you do.

Let the team at Hanson & Ryan explain: Most apartment complexes and landlords only have insurance that covers the damage to the actual dwelling. So, while your landlord’s insurance policy will cover the overall building you reside in, their policy will not cover your personal items, which leaves you and your belongings vulnerable if the unthinkable were ever to happen.

Here’s the bottom line:: If you rent an apartment, condo, house, etc. – yes, you need renter’s insurance. And if you never need to use it, at least it’s there for peace of mind.

 What Does Renter’s Insurance Cover?

Personal Property

Typically, a standard renter’s insurance policy protects your personal belongings against, water damage, fire, smoke, vandalism, and theft. Personal property coverage also extends coverage outside your apartment, like if items were stolen from your vehicle.

 If you own any high-value items like an engagement ring or specialized electronic equipment, you may need to purchase a separate personal articles policy to cover the full worth of those items against potential loss or have it scheduled on the policy.

Loss of Use

Renter’s insurance policies also typically cover the cost of living expenses if there is a need for you to leave your home after an accident. For example,maybe a live electrical wire came down and burned a hole in your roof, and you’re unable to live in your apartment until that hole is patched up. Loss of use coverage will cover the cost of a hotel, food, and any other basic additional living expenses you may incur during the time your residence is uninhabitable.

Loss of use insurance gives renters coverage and peace of mind that, if something bad were to happen to their home, they would not be without a place to temporarily live. 


The liability coverage on your renter’s insurance pays for bodily injury and property damage caused by negligence. That means if your hosting a party and a guest slips and falls in your apartment, you will not be held liable for your guest’s medical payments. In a similar vein, if your child accidentally throws a ball through a neighbor’s window, your renter’s insurance’s personal liability coverage should handle the repair costs

What Does Renter’s Insurance Not Cover?

While many renter’s insurance plans cover a plethora of potential issues you could find yourself dealing with throughout your time renting property, there are some damages most renter’s insurance policies will not cover. 

Most renter’s insurance policies do not cover damage caused by floor water, earthquakes, mudslides, or nuclear hazards. The majority of natural disasters are not covered through the standard renter’s insurance coverage offerings. 

If you live near a fault line or a body of water, or if you are concerned about any of the hazards listed above, you may need to consider purchasing a separate policy that can supply you with extra coverage


Hanson & Ryan Can Help You Purchase a Renter’s Insurance Policy!

Purchasing a renter’s insurance policy is easy when you choose to work with the insurance experts Hanson & Ryan. With over 140 years of experience, we have a concrete understanding of different renter’s coverage options, and out top-tier customer service cannot be beaten by other insurance companies!

When you’re ready to take the next step to protect yourself and the items you care most about, give us a call and we’ll get you set up with a renter’s insurance quote right away