Renters insurance covers personal belongings against covered losses like theft, fire, and certain types of water damage. It can also provide liability coverage if you’re legally responsible for injury or damage to others, as well as temporary living expenses after a covered loss.
In this video, we explain who needs renters insurance, what it covers, what it does not cover, how much it typically costs, and how to decide if renters insurance is right for you.
You will learn:
What renters insurance covers
What renters insurance does not cover
How personal property coverage works
How liability coverage works
How additional living expenses work
How much renters insurance typically costs
Renters insurance generally does not cover flooding from outside, earthquakes, vehicles, or a roommate’s belongings unless they are included on the policy. Certain high-value items, such as jewelry, may also require additional coverage.
If you're comparing options this year, you can also explore providers like Lemonade to see how digital insurance platforms work: https://www.lemonade.com/renters
This video was made by @mastermoneyco in partnership with Lemonade Insurance.
Chapters
0:00 - Is Renters Insurance Worth It?
0:54 - Does Your Landlord’s Insurance Cover You?
1:13 - 3 Core Renters Coverages
2:59 - Common Coverage Exclusions
3:36 - 3 Questions Before Buying
4:16 - How Renters Insurance Deductibles Work
4:52 - How Lemonade Renters Insurance Works
6:05 - 7-Step Protection Checklist
7:29 - Is Renters Coverage Worth It?
