What is renters insurance anyway? Renters insurance is in a way apartment insurance. It is insurance for the renter. Since you do not own the structure, the insurance covers you for your contents in case they are lost, damaged, or stolen. A renters insurance policy also covers you legally if someone gets injured in your apartment or the place you are renting.

What Does Renters Insurance Cover?

Renters insurance covers your personal items or your “stuff” in the event it is damaged, stolen, or lost. These things are usually covered if damaged by:

• Fire
• Smoke
• Theft
• Items stolen from your car
• Items stolen while traveling
• Vandalism
• Water from pipe break

Personal items are covered either under an Actual Cash Value(ACV) basis or a Replacement Cost Value(RCV) basis. Here at Unity One Insurance, we want to insure you properly and try to only provide replacement cost if possible. ACV includes depreciation, RCV does not, meaning that those who are insured for ACV of their contents usually end up getting nothing after paying for all this insurance. RCV replaces your belongings as if they were brand new and you actually get what you are paying for…insurance! Certain items do have limits like jewelry, firearms, collectibles, arts, etc. If you do own any of these items, be sure to let us know so we can make sure you are properly insured for these items. Check out our guide here on insuring items like these.

Renters insurance also covers you if someone is injured at the place you are renting. There are 3 parties involved. The injured person, the renter, and the landlord. Whether the landlord or the renter has to pay in this situation all depends on what happened at the incident, how it happened, the exact location on the premises, and whose fault it is.

Additional living expenses are sometimes also covered. This covers the additional living expenses you occur if your home or apartment rented is unlivable due to fire or other covered peril.

Remember you are always only covered up to your policy limit!

Do I Have To?

Renters insurance is actually not required by law but is sometimes required by the landlord. Protecting your things and yourself financially is very important. Renters insurance is usually not very costly and it gives you peace of mind. If you combine another policy like your auto or choose a higher deductible, the premium will be lower. Do not rely on your landlord for their landlord insurance. Landlord insurance covers the building and NOT your personal property.

Give Unity One Insurance a call at 949-450-1822 to get started on your renter’s policy or if you have any additional questions. We look forward to hearing from you!