This depends on the company from which you purchase your renters insurance. Nevertheless, many companies cover:
- fire
- lightning
- theft
- smoke
- vandalsm
- windstorm or hail
Other types of coverage, depending on the company, may include:
- floods
- damage from a burst water pipe
- riots or civil commotion
- aircrafts and vehicles
- freezing of plumbing system
- falling objects
While landlords insure the apartment building against damage, their insurance policy does not cover your belongings. Purchasing renters insurance would protect your possessions if they are stolen or destroyed in a fire. Remember when you live in an apartment complex with many other tenants, you share the risk of damage–for example, if one unit were to catch fire.
Renters insurance can also protect against liability lawsuits or medical bills of guests injured in your apartment.
Some landlords require you to purchase renters insurance.
If so, this would be stipulated in your lease or lease riders.
Renters insurance covers damage or loss to the property of those who rent an apartment. Anyone who rents, whether from a house owner, a property manager, or a university (as a student living in a dorm), should consider purchasing renters insurance.
Liability protection. Some renters insurance protects you against a lawsuit if someone or their property is damaged on your apartment¡¦s premises.
Medical payments to guests. Some policies cover the medical bills up to a limit of anyone, except you or anyone else who lives in the apartment, who is injured in your apartment.
Increase in Living Expenses. If your living expenses increase, because you must live elsewhere due to a loss, some policies cover, up to a limit, that increase.
Lost property while traveling. Some renters insurance policies cover your property even when you¡¦re traveling, should the airline lose your luggage.
Premium policy add-ons. If you¡¦re willing to pay a higher premium, you can buy additional protection. The add-ons differ from company to company, so be sure to ask for details. Typical add-ons include:
property damage due to floods or earthquakes
damaged wedding or engagement presents
