Common questions about renters insurance

Yes. Your landlord's insurance only covers the building—not your belongings. If there's a fire, break-in, or water damage from a burst pipe, you'd have to replace everything out of pocket. For $15-30/month, renters insurance protects your stuff and provides liability coverage.

Most people need $20,000-$50,000 in personal property coverage. Take a quick inventory—add up your furniture, electronics, clothing, and other items. You might be surprised how much it would cost to replace everything. Liability coverage of at least $100,000 is standard and recommended.

Yes, in most cases. Renters insurance covers your belongings even when they're away from your apartment—including items stolen from your car, at work, or while traveling. Just remember to file a police report for theft claims.

Usually not unless they're specifically listed on your policy. Each roommate should have their own policy to ensure their belongings are covered. Some insurers allow you to add a roommate, but you'd share coverage limits.

Actual cash value pays what your items are worth today, after depreciation—so your 3-year-old laptop might only pay out $200. Replacement cost pays to buy a similar new item. It costs a few dollars more per month but is usually worth it.

Generally no. Pest infestations, including bed bugs, are typically excluded from renters insurance. You may need to work with your landlord to address pest issues, and some leases specify who is responsible for treatment costs.

Yes, and many landlords do. Even if not required, it's smart to have. Renters insurance protects you and also provides liability coverage if you accidentally damage the property or injure someone.

Contact your insurer as soon as possible after the incident. Document everything with photos and video. For theft, file a police report. Keep receipts for any emergency expenses. Your insurer will assign an adjuster to review your claim and determine the payout.