Do You Need Renters Insurance?

Renters insurance protects you and your stuff. And if that’s not enough, it also provides coverage for certain temporary living expenses and medical payments if someone is hurt at your residence.

Renters insurance is a good idea if you rent a house, apartment, or condo for many reasons.

Why you should consider a renters policy

  • It protects your stuff. Your landlord’s policy excludes property owned by a renter. Renters insurance covers your property in the event of a fire, theft, or other types of damage.*

  • It protects your liability. If someone gets injured in your apartment, you may be required to pay for their damages. A renters policy with liability coverage helps to protect you against these types of claims.

  • It provides temporary living expenses. If your apartment becomes unlivable, your renters policy will pay the cost of certain additional living expenses.

* Renters insurance covers losses caused by specific or "named" events, like fire, wind or hail, theft, or vandalism. Like most insurance policies, it also has exclusions. For example, it won’t cover property in your apartment if the apartment has been vacant for more than 60 days.

Is renters insurance required?

Whether renters insurance is required depends on your landlord. Regardless of the landlord’s requirement, you should still consider covering yourself and your stuff. The average renter has thousands of dollars in personal property, which could easily be destroyed as the result of something unexpected.

The information and descriptions on this site are general in nature. The coverage afforded for a particular loss depends on the specific facts and the terms, exclusions, and limits of the actual policy. Nothing on this site alters the terms or conditions of any policy, as the policy controls coverage. Coverage options, limits, discounts, deductibles, and other features are subject to underwriting criteria, state availability, and effective dates. Coverage provided and underwritten by NJM Insurance Company and its subsidiaries, 301 Sullivan Way, W. Trenton, NJ 08628.