# Do you need renters insurance? > Your landlord’s insurance covers the building, not your belongings. Renters insurance usually covers your things against fire and theft, liability if someone is hurt or you damage something, and living costs if your home becomes unlivable. Floods and earthquakes need separate coverage, and roommates usually need their own policy. Choose replacement cost if you can. Many policies cost well under $30 a month. Make a quick video inventory. - URL: https://explained.page/renters-insurance - Language: en - Last checked: 2026-10-29 - Watch the 1-minute animated guide: https://explained.page/watch?start=renters-insurance ## Step by step 1. **Do you need renters insurance?** Your landlord’s insurance covers the building, not your things. Renters insurance protects you, and it’s often cheap. 2. **Know what it covers.** Your belongings from things like fire and theft, liability if someone is hurt or you damage something, and living costs if your place becomes unlivable. 3. **Know what it usually doesn’t.** Floods and earthquakes need separate coverage. Roommates usually need their own policy. Expensive jewelry may need an add-on. 4. **Pick replacement cost if you can.** Replacement cost pays to buy new items; actual cash value pays what your used items were worth. The difference is often worth a small extra cost. 5. **It’s often inexpensive.** Many policies cost well under $30 a month, depending on where you live and your coverage. Bundling with car insurance can save more. 6. **Make a quick home inventory.** Walk through with your phone and record your things. Keep receipts for big items. It makes a claim much easier. 7. **Look it up the right way.** Search with your town or state in the words. Pick the official site: it usually ends in .gov. Skip ads and sites that charge for free forms. ## Checklist - Know landlord insurance doesn’t cover your stuff - It covers belongings, liability and living costs - Floods and quakes need separate coverage - Choose replacement cost - It’s often under $30 a month - Make a phone video inventory ## Why you need it Your landlord’s policy covers the building, not your belongings or your liability. Many leases require renters insurance. ## What it usually covers - **Personal property:** your things, from risks like fire, smoke, theft and some water damage, often even when they’re away from home. - **Liability:** if someone is hurt at your place or you accidentally damage someone else’s property. - **Additional living expenses:** hotel and extra costs if your home becomes unlivable after a covered loss. ## What it usually doesn’t Floods and earthquakes (separate policies), your roommate’s belongings, and high-value items like jewelry beyond set limits unless you add coverage. ## Choosing a policy - **Replacement cost** pays to buy new items; **actual cash value** pays what used items were worth. - Pick a deductible you can afford. - Bundling with car insurance often saves money. ## Cost Many policies cost well under $30 a month, depending on location and coverage. ## Make an inventory Record a video of your belongings and keep receipts for big items. ## Common questions ### Does renters insurance cover my roommate? Usually not unless they’re named on the policy. Most roommates get their own. Source page: https://explained.page/renters-insurance/questions/does-renters-insurance-cover-my-roommate ### Does renters insurance cover my car? Not the car itself; that’s auto insurance. It may cover belongings stolen from your car. Source page: https://explained.page/renters-insurance/questions/does-renters-insurance-cover-my-car ### What does renters insurance cover? Usually your belongings against risks like fire and theft, your liability if someone is hurt or you damage property, and extra living costs if your home becomes unlivable. Source page: https://explained.page/renters-insurance/questions/what-does-renters-insurance-cover ### How much does renters insurance cost? Many policies cost well under $30 a month, depending on where you live, your coverage limits and deductible. Source page: https://explained.page/renters-insurance/questions/how-much-does-renters-insurance-cost ### Is renters insurance required? Not by law, but many landlords require it in the lease. Source page: https://explained.page/renters-insurance/questions/is-renters-insurance-required ### Does renters insurance cover water damage? It often covers sudden water damage, like a burst pipe, but not flooding from outside, which needs separate flood insurance. Source page: https://explained.page/renters-insurance/questions/does-renters-insurance-cover-water-damage ### What is liability coverage in renters insurance? It helps pay if you’re responsible for someone’s injury or property damage, including legal costs, up to your limit. Source page: https://explained.page/renters-insurance/questions/what-is-liability-coverage-in-renters-insurance ### Does renters insurance cover theft outside my home? Often yes, up to policy limits, like a laptop stolen from your car or while traveling. Source page: https://explained.page/renters-insurance/questions/does-renters-insurance-cover-theft-outside-my-home ## Official sources - [NAIC: renters insurance guide](https://content.naic.org/) - [FloodSmart: flood insurance for renters](https://www.floodsmart.gov/) To find your local office, search for: - "renters insurance quotes compare" - "[your state] department of insurance renters" --- General information, not legal or professional advice. Rules differ by state. From explained.page (www.explained.page). Life’s stuff, explained simply.