Is Renters Insurance Enough?

 In Blog, Renters Insurance

Supplementing Your Renters Insurance

If you’re renting a property, renters insurance is always a good idea, whether your landlord requires it or you need it to protect your personal property. It is affordable, protects your stuff (even when it’s not in your home), covers damage to other peoples property, and more. But is that enough? Let’s see.

Renters insurance includes three main things.

Personal Property Coverage

When you rent a property, your landlord is responsible for everything related to the structure, but you are responsible for everything in it —a.k.a. Your personal belongings. In case of an incident —such as fire, windstorms, vandalism or theft— that damages your property, renters insurance will protect you.

Additional Living Expenses

In most cases, renters insurance will cover your living expenses, when your apartment is being repaired from a previous claim under your renter’s insurance. So, let’s say someone breaks in and vandalizes your residence, and you have to leave for a couple of weeks while things are repaired. Your stay in a hotel (up to a certain limit) will be covered by your insurance, along with laundry and meals.

Person about to fall down the stairs

If you leave toys out for people to trip over, you may be held liable for the medical expenses.


If you are found responsible for damages to another party, while in your rented property —like if someone falls and gets hurt in your apartment— renters insurance will cover it.

So, Do You Really Need More Coverage?

There are some things that renters insurance does not cover, but that doesn’t mean you don’t need coverage. For example, if you live in an area prone to floods or earthquakes, you need to consider purchasing additional coverage for those events.

If you have valuables worth more than your renter’s policy limit, it is advisable to purchase endorsements to ensure that the difference is covered by your insurance, rather than exposing you to the risk of having to cover the difference right out of your own pocket.

Purchasing umbrella insurance is also an excellent way to supplement your renter’s insurance since it provides an extra layer of liability insurance. It never hurts to have extra. Umbrella policies are not expensive, and they give you peace of mind.


Renters insurance is a cost-effective way to protect yourself against potential claims related to your rented property. But it is not a bad idea to build up your coverage with supplemental insurance policies.

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