Renters Insurance for Seniors
Renting in your golden years? Protect your retirement and the life you’ve built starting at $5/month.
What is renters insurance for seniors?
Renters insurance protects your belongings, covers liability, and pays additional living expenses if your home becomes unlivable. After a lifetime of carefully choosing furniture, medical equipment, and meaningful possessions, this coverage keeps them protected.
Seniors typically own more valuable items and face unique liability risks.
What does renters insurance for retirees cover?
Your home now has decades worth of stuff plus cherished heirlooms. Understanding what renters insurance covers helps protect you in your golden years, here’s what’s covered:
- Clothing & Personal Items
- Medical Equipment
- Jewelry & Watches
- Mobility Devices
- Electronics & Computers
- Heirlooms & Antiques
- Furniture & Home Decor
- Appliances & Kitchen Items
- Photo Albums & Keepsakes
- Artwork & Collectibles
- Exercise & Health Gear
- Important Legal Documents
Not covered: Floods, earthquakes, and the reading glasses you sat on while watching TV.
How does Lemonade renters insurance protect seniors?
You’ve worked hard for retirement, here’s why a renters insurance policy protects what matters most. It’s not just about your stuff, renters insurance also covers:
Personal belongings
Did your lifetime of stuff get stolen or damaged? We'll replace everything you've carefully collected over the years
Loss of use
Did a burst pipe make your place unlivable? We'll cover hotel stays and meals out while repairs happen
Personal liability
Neighbor visits for coffee and trips on your rug? We'll cover their medical bills and any legal costs
How much coverage do seniors need?
The right coverage depends on your lifestyle and what you’ve collected over the years. Here’s how to calculate what you need.
Personal property coverage
Choose $10,000 to $250,000 in coverage. Walk through your home and consider: quality furniture you've invested in, essential medical equipment, family heirlooms, and electronics you rely on daily. Many seniors find they need more coverage than they initially thought.
Read moreLoss of use coverage
Coverage ranges from $3,000 to $200,000. If your place becomes unlivable, you'll need comfortable temporary housing and meals out. At your stage of life, budget motels won't cut it and decent accommodations run up to thousands of dollars per week.
Read morePersonal liability coverage
Lemonade's liability coverage starts at $100,000, covering medical expenses and legal fees if a guest gets hurt or you accidentally damage your neighbor's unit. Many seniors opt for higher limits to better protect their assets.
Read moreHow much does renters insurance cost for seniors?
Renters insurance for seniors costs more since you’re covering more stuff, but it’s still affordable. As of 2025, Lemonade averages $16/month with prices starting at $5/month. Location, coverage limits, and deductible determine how much you’ll pay.
Senior renters: By the numbers
Seniors spend a significant portion of their income on rent, plus all the belongings that make a rental home. That’s why affordable renters insurance coverage is essential. The numbers show the scale and financial reality of this population:
Customers love Lemonade renters insurance
Our customers rate Lemonade renters insurance 4.9 on Trustpilot. Don’t just take our word for it, check out what they’re saying.
Why is Lemonade the best choice for seniors?
Bundle and save
Get a discount when you bundle renters insurance with car insurance or other types of coverage. Enjoy savings and the convenience of managing everything in one place.
Customizable coverage
Easily customize coverage for your most precious items: Jewelry, art, antiques, and collectibles. Add Extra Coverage so your treasures are fully protected at their actual value.
Instant quotes
Get a renters insurance quote in under 90 seconds. No waiting on hold or scheduling appointments, everything happens instantly online with our streamlined process.
Renters insurance for seniors FAQs
Do I need renters insurance if I live in a senior living or assisted living facility?
Yes, almost always. The facility’s insurance covers the building, but not your personal belongings or your personal liability. Our policy ensures you are protected inside your own rental property.
How much renters insurance do I need as a senior?
It depends on the value of your ‘stuff.’ We recommend doing a quick home inventory to get a good estimate. Lemonade’s app makes it easy to pick a coverage amount that feels right for your insurance needs.
Is this policy different from a standard renters policy?
No, and that’s the good news! It’s a standard renters insurance policy, but we’ve simply highlighted the parts of the coverage, like liability, medical equipment, and Extra Coverage for high-value items that are most important for seniors.
Is Lemonade a real, trustworthy insurance company?
Yes, Lemonade is rated A-Exceptional, fully licensed, and backed by some of the biggest names in the industry, including Google, General Catalyst, Lloyd’s of London, and Allianz. We’ve earned the trust of over 2 million customers.
What if I have expensive art or collectibles from my married life together?
That’s exactly what our Extra Coverage is for! Many seniors have accumulated valuable items over a lifetime, family heirlooms, art collections, or precious jewelry. You can easily get additional coverage for these treasures so they’re fully protected at their actual value.
Claims on items protected with Extra Coverage are deductible-free, and your valuables will be protected in more scenarios, including accidental damage and mysterious disappearance.
All coverage is subject to individual policy limits, terms, and conditions. Certain items mentioned in this article, including electronics, jewelry and watches, art and musical instruments, and some collections, are subject to sub—limits under standard renters insurance policies and may need to be scheduled separately for full protection. 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. The costs shown in this article are based on internal Lemonade data as of December, 2025. Claims data is sourced from internal Lemonade data as of December 2025. Sources: 1. https://www.cnbc.com/2024/10/04/pros-and-cons-to-renting-instead-of-owning-a-home-in-retirement-years 2. forumnadlanusa.com/2025/09/seniors-lead-the-way-in-rental-housing-growth/ 3. https://www.investopedia.com/curious-about-retirement-spending-heres-what-the-average-monthly-expenses-are-for-retirees-11832245
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