Renters Insurance

Renters insurance is a smart purchase!

Even though your landlord is responsible for ensuring your home is in working order, it’s up to you to protect your personal belongings. Loss due to theft or damage can be a substantial expense, and given the relatively low cost of renters insurance, the peace of mind you’ll enjoy from having coverage is well worth the small investment.

What does it cover?

  • Damage to your items in your home, including furniture and clothing
  • Damage to other things that are not in your home, including during travel
  • Liability for injury on the property
  • Hotel reimbursement if your rental house, apartment, or condo is unlivable due to a covered claim
  • Medical payments

In addition to protecting personal property, some policies also provide optional coverage that can be added for ID protection services, flexible payment plans, and specialty packages for luxury items, instruments, recreational vehicles, and other luxury valuables.

It’s worth noting that most policies don’t cover floods or earthquakes, so you may want to consider additional coverage if you live in a high-risk area.

If the roof blows off the condo you’re renting, your landlord’s homeowners insurance will pay to replace the roof, but, sadly, your stuff isn’t covered. That’s why renters insurance is so important! Even the most basic plan will pay the cost to repair or replace your items, and if you don’t want to pay out-of-pocket to replace everything you own if someone breaks into your home, then you’ll be grateful that you were covered.

Why do I need it?

It’s tempting to think you don’t need any homeowners insurance if you don’t actually own your home. However, your personal property is protected with a renters policy in the event that there’s a covered loss. If you have items like laptops, expensive electronic equipment, and clothes and furniture you care about, then having renters insurance is a smart move. For just a few dollars a month, you’ll have ample coverage to replace your personal property in the event that there is a covered loss.

You can reduce the cost of your policy even further if you have a fire alarm, burglar alarm, or sprinkler system in your rental. There are also discounts available if you bundle policies together, such as renters insurance and auto insurance. Some providers also extend additional price breaks for specific employers or trade associations.

Remember, there’s a policy to fit every need. You get to choose how much coverage you want, so you won’t have to overpay or leave yourself vulnerable.

Claim examples – How coverage works

Through no fault of your own, your home springs a significant leak. Water gushes everywhere, and you stare in shock as your bathtub falls through the ceiling and crashes in the middle of your living room. Because you have renters insurance, the cost of cleanup and staying at a hotel will be covered. You’ll also be reimbursed for the replacement value of any items that got damaged during the bathtub incident.

Renters insurance for students who live away from home is also valuable, especially for situations like dorm living or off-campus apartments with roommates. Students often bring expensive items with them, including laptops, televisions, smartphones, and clothing. However, they often end up living with strangers. Knowing your things are protected is helpful, especially since students can’t live without a phone or laptop these days!

Why Warp Speed Insurance for your renters insurance?

As an independent agency, we have access to multiple carriers. We do all the research and comparison shopping for you, helping you lock in the most competitive prices while getting a plan that best fits your needs. We take a data-driven approach to find the perfect policy to have the coverage you need without paying for the things you don’t. Our easy, do-it-yourself quoting platform provides you with multiple quotes in minutes.

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