What Does Renter's Insurance Cover and What It Doesn't?
You probably don't have renter's insurance, but with so many natural disasters in recent weeks, you should seriously consider it. But does renter's insurance cover flood damage? Fires? Earthquakes? Keep reading to find out.
In the aftermath of Hurricanes Harvey and Irma, you may be left wondering what you can do to help those who have been affected.

While there are organizations you can donate money, food, and clothing too, there’s also something you can do to help yourself if you live in any southern state (or any state, really)—and that’s get renter’s insurance.

Renter’s insurance is relatively cheap and can help replace your valuables if they’re lost in a storm or from theft.

What does renter’s insurance cover?

First things first, you probably want to know what exactly renter’s insurance covers. Does it cover all natural disasters? Will you actually be able to replace all your valuables? Lets find out.

Natural disasters

Basic insurance covers events such as: hail, fire, rain, or wind storm. However, flood and earthquakes typically require additional coverage. In certain areas of the country, additional coverage may not even cover flood or earthquake.

Lodging while you look for a new place to live

If you assume that your landlord is responsible for finding you adequate housing, such as a hotel room, if your apartment becomes unlivable, think again.

This is another important reason to have renter’s insurance. If you have the right insurance, they’ll pay for you to stay in a hotel or other facility while you look for a new place to live.

Your valuables in your apartment

If you’re like me—in your mid-twenties and own almost nothing of significant value except an old iPhone and a MacBook on its last legs, you’re probably thinking renter’s insurance is pointless. But that’s not true at all.

A few dollars a month is less than what you’d have to pay to replace your phone, TV, laptop, clothes, and furniture, no matter how dingy.

Personal liability

There’s also another form of renter’s insurance that’s not for your stuff, but in case guests in your apartment are injured and you need to pay for legal or medical bills. This is called liability insurance.

Liability insurance also covers the cost of medical bills if your dog bites someone in your apartment, but be aware, there are dogs on a “blacklist” such as Pitbulls and Rottweilers, that insurance will not cover.

Damages typically covered by personal liability coverage usually include:

  • X-rays
  • dental
  • emergency room and ambulance
  • hospital stay
  • surgery, and
  • wages lost during medical treatment and rehabilitation.

Your valuables outside your apartment

You may be surprised to learn that some renter’s insurance policies cover your valuables when they aren’t in your app德扑圈官方网址home, or if they’re in off-site storage.

Policy Genius says: ” if your laptop gets stolen on vacation or damaged falling out of a backpack, renters insurance will pay to replace it.


Since one of the main points of renter’s insurance is to cover your belonging, theft is covered under basic renter’s insurance. For coverage on fine art, new televisions, and jewelry, you’ll have to pay a little extra.

What does renter’s insurance not cover?

As I said earlier, it’ll be difficult to find a renter’s insurance policy that covers flood or earthquake damage. Allstate, however, specifically offers flood insurance—although it’s not as cheap as basic renter’s insurance.

Renter’s insurance also does not usually cover:

  • Accidental loss by owner (i.e. if you misplace your phone or laptop, that’s on you)
  • Damage by owner’s pet
  • Rare or extra-valuable items such as art and jewelry (unless you pay extra)
  • Your roommate’s valuables (they would need their own policy)

How much does it cost?

The great thing about renter’s insurance is, in most cases, it’s very cheap—especially compared to app德扑圈官方网址homeowner’s insurance.

Of course, this varies from company to company, but the average is under 10 dollars a month for basic coverage.

To get an idea, here’s the lowest you’ll pay at some of the major renter’s insurance companies:

Insurance Company Average Premium
From $5 per month
- Liability
- Personal property anywhere in the world
- Fine art and jewelry
- Theft
- Fire
- Explosion
- Vandalism
- Reimbursed living expenses
- Electronics and peripheral equipment
PolicyGenius Depends on specific insurance carrier usedDepends on specific insurance carrier used
From $4 per month when bundled with auto insurance
- Personal property coverage
- High value personal property
- Reimbursement of living expenses
- Liability
- Guest medical coverage
- Identity restoration
From $12 per month
- Flood insurance included in policy
- Personal property
- Fire and smoke
- Lightning, wind or hail
- Theft
- Personal liability
- Damage to government housing
- Medical payments to others
From $14 per month
- Personal property
- Personal liability
- Medical payments
- Property damage to others
- Additional living expenses
Liberty Mutual
Less than $1 per day
- Personal property
- Valuables up to a certain dollar limit
- Personal property stolen from your vehicle
- Liability coverage, including medical bills
- Additional living expenses

Where do you get it?

Does Renter's Insurance Cover Flood Damage - Allstate

You can bundle renter’s insurance with life insurance or car insurance through companies like Allstate. But you should start by looking at Policygenius  – which you may know as the life insurance company we’ve reviewed in the past.

Does Renter's Insurance Cover Flood Damage - PolicyGenius

Policygenius will compare rates from many different insurance companies and get you the very best price. Policies start at $8 a month and vary depending on what you need covered and where you live.

Does Renter's Insurance Cover Flood Damage - Lemonade

Another company that we highly recommend is LemonadeLemonade does insurance a little differently. They offer app德扑圈官方网址homeowners and renters insurance, but do so in a peer-to-peer format. This means that a group of people pool their resources by paying insurance premiums into one big pot.

Lemonade will take a fixed fee out of your monthly payments, but they’ll use the rest for paying out claims. Any unclaimed money goes towards charities that policyholders value most.

This model allows your money to actually go towards your insurance and not to a big-name company. You can get renters insurance from just $5 a month and app德扑圈官方网址homeowners insurance from just $25 a month.

Visit Lemonade to learn more, or read our full review.


Renter’s insurance covers a lot and everyone should have it, but flood damage is hard to get covered. That being said, if you have the right coverage it will cover a place for you to stay while you look for something new. It’ll also cover most other natural disasters and you can replace your valuables in case of theft.

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About the

Total Articles: 134
Christopher Murray is the Managing Editor of Money Under 30. Chris received a BA in English Literature and Gender Studies from Smith College. He now lives in Maine with his husband where he spends his free time watching reruns of The X-Files and dreaming of traveling in a refurbished VW Bus while writing the next Great American Novel.

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