Dos and Don’ts of Renters Insurance


Renters experience apartment theft 50 percent more than homeowners, yet nearly 70 percent of renters live without renters insurance, according to an national survey.

Apartments and home rentals can be a great option for residents not ready to make the leap toward home ownership, but taking the appropriate steps to protect their belongings is just as important for renters as signing their lease. That’s why Columbus, Ohio-based Grange Insurance outlines the importance of renters insurance and why every renting tenant should be covered by an insurance policy.

“Although many landlords require renters insurance coverage from their tenants, there are some that make it optional,” said John Ammendola, president of personal lines for Grange Insurance. “Because of the high percentage of burglaries and the risk of damage due to other tenants’ actions, having renters insurance is a great safety net for tenants.”

Renters insurance typically covers furniture, appliances, televisions and clothing — all of which are identified as a person’s personal property inside the rental unit. If the items inside the unit are damaged due to fire, smoke or water damage, they’re covered under the renters insurance policy. Tenants should also consider policies that provide coverage for vandalism, malicious mischief and falling objects. “Since tenants have no control over their neighbors’ actions, it is very important that their policy protects against the unexpected, including objects falling from patios above your unit and any type of vandalism,” Ammendola said.

While looking for renters insurance, tenants should also confirm coverage includes personal liability. A crucial part of renters insurance, personal liability provides coverage for compensatory damages if a tenant is legally liable for another person’s bodily injury or property damage as a result of an accident.

“Accidents can happen when we least expect them,” Ammendola said. “Medical bills from bodily injuries can be expensive, but with proper renters insurance, you and your finances are covered.”

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