Even if you don’t own your own home, and you rent instead, your home 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?

Black and White Valentine's Day photoYes, you do.

Let us 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.

The bottom line is: 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 renter’s insurance covers

Personal property

Typically, a standard renter’s insurance policy protects your personal belongings against, water damage, fire, smoke, vandalism, theft. Personal property coverage also extends coverage outside your apartment, 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 living expenses you may incur during the time your residence is uninhabitable.


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. Or, if your child accidentally throws a ball through a neighbor’s window.

What renter’s insurance doesn’t cover

Most renter’s insurance policies do not cover damage caused by:

  • Flood water
  • Earthquakes
  • Mudslides
  • Nuclear hazards

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.

Purchasing a renter’s insurance policy

Purchasing a renter’s insurance policy is easy when you choose to work with Hanson & Ryan. 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.