Why Landlord Coverage Isn’t Enough

If you rent a home or apartment, you might assume your landlord’s insurance policy will take care of everything if disaster strikes. However, that’s a common misconception. A landlord’s insurance generally helps cover the building itself-not your personal belongings or liability risks.

So, do you need renters insurance if your landlord already has coverage? Here’s what you should know.

What Your Landlord’s Insurance May Cover

Landlord insurance is designed to potentially protect the physical structure of the rental property. That could include:

• The building’s exterior and interior structure
• Plumbing and electrical systems
• Appliances that came with the unit

It might also include liability protection for the landlord if someone is injured due to negligence on the property. But it generally doesn’t extend to tenants’ belongings or personal liability.

What Renters Insurance May Help Cover

Renters insurance is built to potentially protect you-the tenant. A standard policy could help cover:

• Your personal belongings-such as furniture, electronics, clothing, and kitchenware
• Liability-if someone is injured in your home or if you accidentally damage someone else’s property
• Additional living expenses-if your rental becomes uninhabitable due to a covered loss, like a fire or storm.

It is important to note that what is covered is dependent on the individual renters insurance policy.

Without renters insurance, you’d be responsible for replacing your items and covering any legal or medical costs out of pocket.

Why Your Landlord May Require Renters Insurance

Some landlords may require tenants to carry renters insurance as part of the lease agreement. This helps reduce disputes and potentially ensures tenants have financial support in the event of an accident, loss, or liability claim.

Even if it’s not required, renters insurance is often an affordable way to gain peace of mind. In many cases, policies may cost less per month than a streaming subscription.

Final Thoughts

Your landlord’s insurance is not a substitute for renters insurance. Their policy is focused on protecting their property-not your possessions or personal liability. If you want to potentially help safeguard your belongings and have a backup plan if the unexpected happens, renters insurance may be worth considering.

To learn more about how renters insurance works in Virginia or to request a quote, contact Robins Insurance today. We’re here to help answer your questions.