Renters Insurance 101

Got renters insurance questions? We’ve got answers! Get the scoop on your renters insurance policy—from coverage, to costs, and more.
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What Renters Insurance Does (and Doesn't) Cover

From theft to personal liability, your policy is versatile.

How Much Renters Insurance Do I Actually Need?

Five Lemonade renters share their coverage tips and tricks.

Why Pet Parents Should Get Renters Insurance

Your fur fam will thank you.

Named Perils

Named perils are specific damages or losses listed in your policy if any of these ruin your property, you’ll be covered.

Why Do Landlords Require Renters Insurance?

A win-win for tenants and landlords alike

The Ultimate Lemonade Renters & Homeowners FAQ

You've got questions, we've got answers.

Personal Property Coverage

Personal property is insurance lingo for “your stuff”.

Does Your Renters Insurance Cover Roommates?

Splitting the chores is one thing, but what about splitting insurance?

Interested Party

An interested party on a renters insurance policy is a third party that gets up-to-date info any time you change or cancel your policy.

HO4 Insurance

HO4 insurance is another word for "renters insurance", which covers your personal belongings—and a whole lot more.

Additional Insured

An additional insured is a person you add to your policy because they live with you and/or have a financial interest in your place.

Fire Insurance

Fire insurance provides extra coverage on top of your home insurance policy in the event of loss or damage to your property from fire.

Windstorm Coverage

Windstorms in insurance are considered a named peril, or something bad that could happen to your property that your renters or home insurance will cover.

Theft Coverage

Theft is a peril your insurer covers – it applies to your personal property at home, and anywhere else.

Everything You Need to Know About Getting Renters Insurance

Let's get you covered.

Named Insured

Named insured are everyone covered outright under an insurance policy.

Recoverable Depreciation

Recoverable depreciation is the amount of decreased value you can claim on your property in an insurance policy. 

Equipment Breakdown Coverage

Also known as Appliance Coverage, this endorsement helps cover electronics and appliances that you own.

Insurable Interest

Insurable interest means having a financial stake in an asset to the extent that if it was damaged or destroyed, you’d suffer a loss.

5 Ways Renters Insurance Can Cover Thanksgiving Mishaps

The holidays rarely go off without a hitch, so learn about when your policy can help.

Proof of Insurance

Proof of insurance is a document that shows your landlord, lender, etc that you actually have renters or home insurance.

Subrogation

Subrogation is when your insurer steps in to reclaim money from a third party who caused damages/losses to you or your property.

Uninsurable Peril

An uninsurable peril is an event or situation your insurance policy won’t cover if it results in damages or losses to your personal property.

Vandalism Coverage

Vandalism refers to intentional damage caused by someone else to your place or your stuff, without your consent.

Property and Casualty Insurance

This type of insurance will protect things you own (like your home or your belongings) and also includes liability coverage.

Contents Insurance

Contents insurance, or personal property insurance, is coverage for “your stuff” (bikes, laptops, TVs, etc.)

Occurrence

Another word for an accident - in insurance, occurrence refers to bodily injury or property damage that happens when your policy is active.

Open Perils

Open perils is coverage for damages to your property - if something’s not explicitly excluded, it’s covered.

Replacement Cost

Replacement cost is like the “Amazon” price for valuing stolen or damaged stuff.

Actual Cash Value

Actual cash value is how much an item would go for today (same make and model), minus depreciation.

Bodily Injury Claims

Bodily injury (and bodily injury claims) is a term describing physical harm to others caused by you.

Date of Issue

Date of issue in insurance refers to the actual date on which your policy was drawn up (but not when your insurance becomes active).

Effective Date

An effective date refers to the exact date and time when your insurance policy will officially become active.

Loss of Use Coverage

This coverage will help with temporary living expenses if your place becomes uninhabitable.

Personal Liability Coverage

Personal liability coverage financially protects you against accidental bodily injury or property damage to other people.

Limit of Liability

Limit of liability refers to the max amount of money your insurer is on the hook for if something bad happens to you, your stuff, or your property.

Moral Hazard

A moral hazard is a situation in which a person with insurance takes greater risks than they normally would, knowing their insurer will have to pay.

Tornado Damage and Your Insurance, Explained

Understand your coverage before, during, and after the storm

Insurance Scores, Explained

Your insurance score is a bit different than your credit score. We'll help you understand the difference, and why it matters.

Trampolines and Your Insurance Policy, Explained

Jump around, jump around—but will your quote be turned down?

Extra Coverage Documentation Made Simple

Scheduled property coverage (or Extra Coverage, as we call it at Lemonade) requires some simple documentation.

Extreme Weather, Power Outages, and Your Lemonade Policy

Know your coverage, before the storm rolls in.

What to Know About Your College Student and Renters Insurance

A quick guide for mom and dad.

How To Get Affordable Renters Insurance Online

Here's how to protect your stuff the smart way, without busting your budget.

The Lowdown on Liability Coverage

How it works, what it covers, and how to file a claim with Lemonade.

5 Things You Might Be Getting Wrong About Your Renters Insurance

Because no one expects you to have it all figured it out.

Your Survival Guide to Student Renters Insurance

Class is in session, get the coverage you need.

Who’s Responsible For Damages In Your Apartment?

Is it on you, or your landlord?

Does Renters Insurance Cover Theft?

Here's everything you need to know about renters insurance and theft.

This Is How Much Renters Insurance Actually Costs

Hint: Renters insurance costs much less than you think.

What To Do After You Get Your Lemonade Renters Policy

Your cheat sheet to making your insurance policy work for you.

Landlords: Here’s Why Your Tenants Should Get Renters Insurance

And why you should include it as part of your lease!

9 Real Life Situations Covered by Renters Insurance

Why do you need renters insurance, you ask? Well, look no further...

Who Does Your Insurance Policy Cover?

Your go-to guide for who's covered under your household insurance policy.

Cheat Sheet: What Renters Insurance Doesn't Cover

Confusion over renters insurance policy should not be a liability – we’re here to help!

8 (Little Known) Reasons You Need Renters Insurance

Here's why you might actually need renters insurance.

How Much is Your Stuff Worth?

Hint: your stuff is proabably worth way more than you think.

The Lowdown on Insurance Deductibles

Exploring how insurance deductibles work for renters and homeowners.

How to File a Claim After Your Stuff Gets Stolen

Lemonade's no stress, no fuss guide to theft claims.

Negligence

Negligence is when when someone covered by your policy acts in a reckless or unreasonable way, which results in damages or losses.

11 of the Most Common Coverage Questions, Revealed

Your most pressing renters insurance coverage questions wrapped up into one handy Q&A.

Landlord Insurance vs. Renters Insurance: What's the Difference?

Your guide to whose policy covers what.

Please note: Lemonade articles and other editorial content are meant for educational purposes only, and should not be relied upon instead of professional legal, insurance or financial advice. The content of these educational articles does not alter the terms, conditions, exclusions, or limitations of policies issued by Lemonade, which differ according to your state of residence. While we regularly review previously published content to ensure it is accurate and up-to-date, there may be instances in which legal conditions or policy details have changed since publication. Any hypothetical examples used in Lemonade editorial content are purely expositional. Hypothetical examples do not alter or bind Lemonade to any application of your insurance policy to the particular facts and circumstances of any actual claim.