Now that you know the basics of renters insurance, learn about the specific coverages and how you can manage your policy here.
Coverage specifics
What does a standard renters insurance policy cover?
Renters insurance policies vary depending on your insurance company. In general, most policies cover:
- Personal property
- Personal liability
- Medical payments
- Property damage to others
- Additional living expenses
For what you'd pay on lattes in a year, you can protect your belongings with a
renters insurance policy through Esurance.
What extra coverage can I get on my renters insurance policy?
If you want additional protection, you can increase your coverage to include:
- Identity theft coverage
- Sewer or drain backup coverage
- Replacement cost coverage
- Earthquake coverage (available only in certain states)
What types of disasters does renters insurance cover?
Policies will vary from state to state, but in general renters insurance covers physical loss of your property caused by:
- Fire
- Lightning
- Windstorm or hail
- Explosion
- Smoke
- Vandalism
- Theft
- Falling objects
- Weight of ice, snow, or sleet
- Accidental water overflow
Will my renters insurance policy cover my guests if an accident occurs?
Yes. Renters insurance through Esurance covers others' medical expenses up to a certain limit. Check the details of your policy to see your coverage limits.
Should my renters insurance policy cover replacement cost or actual cash value? What's the difference?
Ideally, renters insurance should cover the replacement cost value. Replacement cost value coverage replaces your damaged or stolen possessions at the current market value. For example, if you owned a Mac and it was stolen, replacement cost value will allow you to buy a new Mac of similar specifications. Actual cash value, on the other hand, will take into consideration wear and tear from prolonged use and will pay for the Mac you owned at a depreciated price. In other words, the payout from actual cash value coverage will be less than market value, which means you might have to cover the difference when replacing your belongings.
If replacement cost coverage isn't standard for your renters policy, it might be wise to add it to your policy for better protection.
Does renters insurance cover personal liability?
This depends on the specifics of your policy. Some policies include personal liability coverage standard, and others will allow you to add it for just a few dollars more. If personal liability isn't included as a standard feature, you can add it to your policy when you get a quote.
If I have to temporarily move out of my home, does renters insurance cover the cost of relocation?
Yes, as long as it's included with your renters insurance policy. Renters insurance through Esurance provides loss-of-use coverage, otherwise known as relocation expenses or additional living expenses, standard on every policy. For example, if your apartment or rental home suffered fire damage and you must temporarily relocate, your renters insurance policy through Esurance will cover the cost of living expenses up to a certain limit.
Does renters insurance cover damage from floods and earthquakes?
Typically, standard renters insurance policies do not cover damage caused by floods and earthquakes. Renters insurance through Esurance does not offer added flood protection coverage. However, you may add earthquake coverage to your policy in certain states.
Does renters insurance cover water damage?
Yes. If a pipe bursts in your apartment and damages your cherished belongings, renters insurance would cover you up to your policy's limits. Note, however, that renters insurance does not cover flooding, just accidental water overflows.
Will my renters insurance cover items stolen from my car?
Yes. The beauty of renters insurance is that it protects your belongings anywhere in the world. Though policies will vary depending on their limits, deductibles, and exclusions, you can generally rely on your policy to protect your things against theft, vandalism, fire, and certain disasters. So if your valuables were stolen from the trunk of your car while you traveled from Paris to Prague to Pisa, you can rely on renters insurance to help you recover your losses.
Are expensive items covered by my renters insurance policy?
If you have a rare coin collection, expensive watches, jewelry, furs, or other valuables, your policy will cover your prized possessions up to certain limits. Certain exclusions do apply. We recommend checking the specifics of your contract to determine the exact limits allowed.
In most cases, you can add a cost-effective insurance rider, which provides additional protection on top of your standard policy, to provide better coverage for your valuables.
Coverage definitions
What is identity theft coverage?
Identity theft is a sad fact of modern life. But if it happens to you, identity theft coverage makes it easier to get your life back to normal. Generally, identity theft coverage reimburses you for the cost of restoring your identity and repairing your credit report if you do the legwork yourself. In other cases, some insurance companies will assign a dedicated case manager who will do all the work to restore your identity. To find out more about identity theft coverage, visit the Insurance Information Institute, check the specifics of your policy, or speak with a licensed agent.
What is personal liability coverage?
If someone is injured on your property or if you (or another family member living with you) accidentally hurt someone or damaged their property, personal liability coverage steps in to mitigate the costs if you're sued. The limits of personal liability coverage vary. Check to see what your limits are when you get a quote.
Managing your policy
What happens to my renters insurance policy if I move?
If you move, your policy can move with you. Simply contact your insurance company and your insurer will update your policy accordingly. If you move to a new state, your insurer will work with you to review your needs and assess rates and guidelines.
How many renters can I insure under one renters insurance policy?
This depends on the specifics of your policy. In general, when you get a quote, you'll have the option of adding another insured to your policy. However, it's recommended that, unless you're married or related to your roommate, each person obtain individual renters insurance for maximum protection.
What are my payment options for my renters insurance policy?
This will depend on your insurance company. Most companies will allow you to pay your premium all at once or in installments. When you purchase your renters insurance policy, you'll be able to choose a payment plan that suits you best. If you do decide to pay in one lump sum, you can avoid installment fees.
What payment types are accepted?
This will depend on your insurance company. In general, most insurers will accept all major credit cards, checks, and Electronic Fund Transfers (EFT).
Can I manage my policy online?
Usually, yes. If you bought your renters insurance from either of our partners (Assurant or Safeco), managing your renters insurance policy online is easy. Just go to your insurance company's website and log into your account to access your policy documents, pay your bill, check your billing history, review coverages, change your address, and more.