Does renters insurance cover other people's belongings?

Asked by: Modesta Lockman  |  Last update: February 11, 2022
Score: 4.7/5 (21 votes)

Renters insurance generally doesn't cover damage associated with your roommate's belongings. To be covered, they would have to be listed on the policy. We don't recommend adding roommates however, unless they are related or a spouse.

What insurance covers the other person's stuff?

Whether you're moving in with a romantic partner or a friend or roommate, your own insurance policy (renters insurance) will provide coverage for your property and belongings in the event of a disaster, a theft, a fire, or another unfortunate incident.

Does renters insurance cover your roommates?

Your renters insurance generally won't cover your roommates' things unless they're related to you or their names are listed on your policy. Unrelated roommates should generally buy their own renters insurance.

Does homeowners insurance cover other people's belongings?

Homeowners insurance doesn't just help cover damage to your home. It may also provide coverage for the personal belongings you keep within it. ... Personal property protection may help pay to repair or replace your belongings if they are damaged or destroyed by a covered risk.

Does renters insurance cover damage by guests?

Renters insurance covers you if your guests get injured at your place, or if you accidentally people hurt outside of your home as well. Note that your renters insurance does not cover medical costs if you or someone residing with you are injured—only non-residents and guests.

Renters Insurance: Protect Your Belongings

21 related questions found

Does renters insurance protect the landlord?

Renters insurance doesn't protect the landlord against a personal property loss, it protects you. ... You don't need to protect the landlord, you need to protect yourself against the risk that life will happen. Generally your policy will pay replacement cost vs. actual cash value on your property.

Does renters insurance cover mold?

Renters insurance may cover mold, but that's not always the case. Renters insurance covers mold damage to your personal property if the mold is caused by a covered peril in your policy.

What is not covered by homeowners insurance?

What Standard Homeowner Insurance Policies Don't Cover. Standard homeowners insurance policies typically do not include coverage for valuable jewelry, artwork, other collectibles, identity theft protection, or damage caused by an earthquake or a flood.

What is damage to property of others coverage?

Damage to the property of others is typically part of homeowners' insurance. It covers damage to property and liability or legal responsibility for bodily injury or property damage that policyholders or family members cause to other people. It also covers damage caused by household pets. Back to all. Related articles.

What is considered personal property for insurance?

Personal property is the stuff you own — furniture, electronics and clothing, for example. Whether you own a home or rent an apartment, insurance policies typically include personal property coverage. This type of coverage helps pay to repair or replace your belongings after a covered loss, such as theft or fire.

How does renters insurance work with multiple roommates?

All insurance policies have coverage limits, which is the maximum amount of money an insurance company will pay you in the event your stuff gets damaged or stolen. When you add a roommate to your renters policy, your coverage limit will not increase, and instead it gets split between the two — or more — of you.

Is it worth it to get renters insurance?

If you're a tenant, purchasing a renters insurance policy is almost always worth it, even if it's not required by your landlord. For an affordable price, renters insurance will protect you against catastrophic damage to your property and potential legal liabilities.

What will your renters insurance cover if the dishwasher floods the apartment that you are renting?

What will your renter's insurance cover if the dishwasher floods the apartment that you are renting? ... Your landlord's insurance only covers 50% of your possessions.

What is the difference between personal property and contents?

The personal property coverage is insurance that covers the items you have in your home. The contents of your home are made up of all the different things you own in and around your house.

What is a home inventory?

Homeowners + Renters Insurance

A home inventory is simply a list of your personal possessions along with their estimated financial value. You can create a home inventory in a simple, low-tech manner by writing down everything in a notebook and keeping receipts in a folder.

What does proof of renters insurance mean?

Proof of insurance is a document that shows your landlord, lender, etc that you actually have renters or home insurance.

What is considered loss of use on renters insurance?

What does loss of use cover? Loss of use coverage pays for additional living expenses you incur if your home is not suitable to live in due to a covered loss. It's important to note that loss of use covers the excess of what you normally spend for certain things.

What is renters insurance based on?

The cost of homeowners and renters insurance depends on a number of factors such as location, local fire protection, age and construction of building, choice of deductibles, application of discounts and the scope and amount of insurance coverage you purchase.

What are common items not covered by most homeowners insurance policies?

Termites and insect damage, bird or rodent damage, rust, rot, mold, and general wear and tear are not covered. Damage caused by smog or smoke from industrial or agricultural operations is also not covered. If something is poorly made or has a hidden defect, this is generally excluded and won't be covered.

Which area is not covered by most homeowners insurance?

2. What's NOT Covered On a Standard Homeowners Insurance … Earthquake and water damage. In most states, earthquakes, sinkholes, and other earth movements are not covered by your standard policy.

Does insurance cover structural damage?

The majority of policies do not cover any type of structural damage unless it has been covered by a specific event. For instance, if you added a rider to your policy to protect you against earthquake damage, your policy might cover structural damage due to the earth moving.

Does landlord insurance cover mold damage?

Rental Default – If your property becomes completely uninhabitable due to pest infestations, black mold, or another covered scenario, your landlord's insurance policy may reimburse you for lost rental income while you rehabilitate and repair your property.

How much can you sue for mold exposure?

If you have mold-related losses (for a health-related problem or property damage), you might be able to sue your landlord in small claims court, if your claim is in the $3,000-$10,000 range, (the small claims court limit in most states).

Does insurance cover mold Windows?

Mold coverage isn't guaranteed by your homeowners insurance policy. Typically, mold damage is only covered if it's related to a covered peril. Mold damage caused by flooding would need to be covered by a separate flood insurance policy.

What are three things that renters insurance covers?

Renters insurance typically includes three types of coverage: Personal property, liability and additional living expenses. Personal property coverage can help pay to replace your belongings if they're stolen or damaged by a covered risk.