Renters Insurance is Just for Replacing Stuff in My Apartment, Right?
Not quite. While renters insurance can help cover the cost to replace your possessions if they’re damaged or stolen, the protection offered by renters insurance extends beyond the walls of your apartment.
Your coverage also includes liability protection, which can provide financial protection if you accidentally damage property belonging to someone else, like your neighbor or landlord. Common examples include…
- An overflowing bathtub causing damage to the apartment below.
- An unattended candle or cigarette starting a fire that spreads into your neighbor’s apartment, or worse, the entire building.
- A grease fire that destroys your entire kitchen.
Your liability coverage may also protect you if someone is injured on your property. This can include a close friend or relative, your next-door neighbor coming by to borrow your juicer, or a campaign worker gathering signatures door to door.
If any of these people, invited or not, are injured in any way in your home, you could potentially be held liable. It could be as simple as someone slipping and falling or being bitten by your dog and needing stitches. Renters liability insurance may cover the injured person’s medical bills, along with any legal costs.
Check out “What Does Renters Insurance Cover?” for more details on what’s covered – and what’s not.