Renters Insurance Protects Against Theft

Yes, renters insurance protects against theft. Your landlord’s insurance policy is not likely to cover theft, and you will need renters insurance to protect against theft and vandalism of your personal property. Enter your ZIP code below to start comparing renters insurance quotes from local providers for free.

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Natasha McLachlan is a writer who currently lives in Southern California. She is an alumna of California College of the Arts, where she obtained her B.A. in Writing and Literature. Her current work revolves around insurance guides and informational articles. She truly enjoys helping others learn more about everyday, practical matters through her work.

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Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...

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Reviewed by Laura Walker
Former Licensed Agent

UPDATED: Nov 16, 2020

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If you live in an area with a high crime rate, insuring your
property against burglary and theft may be the only method available to fully protect your family. And even if the location is not well-known for crime, you could be targeted by someone who, for instance, saw you bringing in that new big screen Renters insurance protects against theft, but you need to have the right coverage for your specific requirements.

What is Renters Insurance?

Renters insurance is a type of homeowners insurance for people who rent but do not own. Technically, the name of the policy is HO-4 Homeowners insurance, the coverage needed to insure property and provide liability coverage, without protecting the home or other structures. HO-4, because it does not insure structures, is much less expensive than a standard home insurance package.

Renters Insurance and Personal Property

A renters insurance policy provides two important types of coverage: Property insurance and liability insurance. In the case of theft, your personal property coverage will replace items lost, up to the amount of personal property protection in the policy. Renters insurance will only cover the property of the insured person and their immediate family members, and you will need to provide proof of ownership when you file the claim.

Why a Home Inventory Matters

The best way to itemize your personal property is to use a video recorder and move from room to room. By having a video record of your belongings, you are able to demonstrate to the insurance company the items you owned, including the brand and a visual indication of the condition of the item. Remember, everything you own is part of your personal property, including your furniture, appliances, wardrobe, and items that are stored outside or in other storage locations on the property.

Matching Property with Coverage

The single largest error made by renters and homeowners alike, in regards to insurance, is to assume that the default amount of personal property insurance is enough. The truth is that the average family has many thousands of dollars in personal property, and a standard policy may only pay for a percentage of the loss if you have to file a large claim. Use your home inventory to calculate the actual value of your possessions, and purchase personal property insurance that matches what you need.

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