Covering much more than your stuff.

Understanding Renters Insurance

When purchasing renters insurance, you’re protecting your belongings and safeguarding yourself from unexpected but insurable losses. A renters insurance policy not only covers the loss of your personal property but also provides liability coverage if someone is injured at your rental unit.

Coverage Highlights:

Personal Property Protection: Covers items like clothes, electronics, and furniture against risks such as fire, theft, and vandalism. Many policies also extend to belongings outside your rental, like items in your car.
Liability Coverage: If someone is injured in your rental or if you cause damage to someone else’s property, this coverage can protect you from financial liability.
Temporary Living Expenses: If your rental becomes uninhabitable due to damage, your policy may cover hotel and living expenses through a provision known as Loss of Use.
Medical Payments: Provides coverage for medical expenses for injuries that occur to others at your rental.
Water Backup Coverage: Protects against damage from plumbing or sewer backups, although this isn’t considered flood coverage.
Personal Injury Coverage: Protects against legal fees and damages related to claims of wrongful eviction, slander, or libel.

For instance, if you’re a victim of a robbery where your TV and valuables are stolen, the property owner will not cover these losses. You are responsible for the full replacement cost, which can quickly add up to hundreds or thousands of dollars. In Connecticut, the average premium for renters insurance is approximately $210 per year, but this can vary based on coverage options.

Current Renter Data:

Average Renters Insurance Premium in CT: $210 per year
Common Coverage Limits: Many policies offer coverage starting from $15,000 for personal property.

Helpful Resources:

If you have specific policy questions or want to explore coverage options tailored to your needs, feel free to contact us for a quote.