What Does Renters’ Insurance Cover and Not Cover?

Considering Renters’ Insurance? Need to Know, “What Does Renters’ Insurance Cover and Not Cover?”

If you’re new to renters’ insurance, then you probably have quite a few questions. In fact, you’re probably wondering, “what does renters’ insurance cover and not cover?” These are great questions to have, and we would be happy to help you answer them. If you have these questions, then chances are, you’re starting from ground zero when it comes to renters’ insurance, so let’s go over the basics of renters’ insurance. 

First let’s answer the question, “what does renters’ insurance cover and not cover?” Then, we’ll chat about your best options and how to get started quickly and easily.

First Things First: What Does Renters’ Insurance Cover and Not Cover?

Renters’ insurance is an insurance policy that is very similar to homeowners’ insurance. It offers coverage for the personal belongings on your property. However, keep in mind that renters’ insurance does not offer coverage for the dwelling itself. So if your home or property is damaged, you won’t be able to claim the damages with just renters’ insurance. Rather, homeowners’ insurance would be the best option for anyone looking to protect the dwelling itself. 

So with this in mind, what does renters’ insurance cover and not cover?

Renters’ insurance does NOT cover the property or dwelling itself, personal liability damages, or guest medical bills if a guest is injured on your property. On the other hand, renters’ insurance DOES cover the valuables both inside and outside of your home. If it’s on your property, then it’s covered by renters’ insurance!  

Can Renters’ Insurance Cover Your Vehicle as Well?

Yes! If your vehicle is parked on your property, then a renters’ insurance policy can technically cover your vehicle as well. For example, if you have personal items that are stolen out of your vehicle while your vehicle is parked on your property, then a renters’ insurance policy can cover the costs of your stolen goods. Keep in mind, however, that a renters’ insurance policy will not cover the vehicle itself. So if your vehicle is damaged during a theft on your property, then your renters’ insurance will not cover the damages to your vehicle. Rather than a renters’ insurance policy, a good car insurance policy can cover the damages to your vehicle in the event that your vehicle is vandalized or broken into.

Fortunately, we can help with both!

Chat with a Licensed Insurance Professional in COS Today

Here at The Insurance Stops, we’re a team of licensed insurance professionals. We’re your one-stop-shop for all of your insurance needs. Maybe you have questions about car insurance, or maybe you are still asking yourself the question, “what does renters’ insurance cover and not cover?” Either way, we’re here to answer all of your questions! Claim your free insurance consultation today with The Insurance Stops, and speak with a licensed insurance professional right away about all of your insurance needs for free!