Coverage · Renters
Renters insurance, explained.
Your space. Your peace of mind.
What it covers
Your landlord’s policy covers the building. It does not cover your things, or you. A renters policy does both, and it usually costs less than people expect.
Personal property
Your belongings, at home and often away from it: a stolen laptop, a fire, a pipe from the unit above.
Personal liability
If a guest is hurt in your place, or you cause damage to the building or a neighbour’s unit.
Loss of use
A hotel and the extra costs if your unit becomes unlivable after a covered loss.
Medical payments to others
Small medical bills for a guest, no fault needed.
One good first question
“If everything in my place were gone tomorrow, what would it cost to replace, and does the policy pay that or the depreciated value?”
Bring this one to Elona and the rest of the conversation gets easier.
What Elona looks at
- A realistic number for what your things would cost to replace, not what they cost new.
- Whether the policy pays replacement cost or depreciated value; the difference shows up on claim day.
- Bundling: a renters policy alongside an auto policy usually lowers the auto premium by more than the renters policy costs [confirm].
- Whether your lease requires a minimum liability limit.