Buying renters insurance is an affordable way to protect your stuff because it comes with personal property coverage. It also comes with personal liability coverage, which covers you in case you accidently cause damage or one of your guests is injured while visiting. When you’re ready to get a quote, you’ll decide the level of coverages you want. You’ll also have additional options to consider, like pet coverage, or protection in the event you lose your job. These items and more are explained in the Extra Protection section.
How much Personal Property coverage do I need?
Most people don’t realize how much they own, and how much it would cost to replace everything. You should take an inventory of your belongings to determine your coverage level. You can use our coverage calculator by clicking on the calculator icon next to Personal Property Coverage on the "Quote" page. The average renter buys a policy with $25,000 coverage, but we offer coverage from $5,000 up to $95,000, depending on what state you live in.
What do I need to know about my Deductible?
Just like with health insurance, when you have a renters insurance claim, you are required to meet a deductible. Higher deductibles will lower your monthly cost, but many people prefer a lower deductible so that they pay less out of pocket in case something bad happens. We offer the lowest deductible around, starting at $100. You can also choose a deductible of $250 or $500, depending on what state you live in. You should note that deductibles only apply to personal property claims, not to personal liability claims.
What if something really bad happens to my unit?
If your home is damaged and becomes uninhabitable, you may need to temporarily live somewhere else while it is being repaired. Your Renters Insurance policy will pay for the reasonable and necessary increase in living expenses (housing, food, etc.) you incur to maintain your normal standard of living, until your home is repaired or until you permanently relocate after a covered loss. This is also known as “Additional Living Expenses.”