Do You Need Renters Insurance?


If you’re a first time renter you may not even realize there is such a thing as renters insurance, but there is. You may wonder why you need it. After all, you don’t own the house or apartment that you are renting. Isn’t it the owner’s responsibility to have insurance on the property? Yes, but that insurance only covers the dwelling, not what’s in it. To coverage your possessions you will need renters insurance.

The Why

If you are renting an apartment, a condo, or a house, you may not own it but you are going to be filling it with things that you own. The insurance your landlord purchases to cover the dwelling they own and you rent, does not cover any of the renter’s belongings. You put hours of work and earnings into accumulating your possessions. You should protect them by purchasing a renters insurance policy.

The What

What renters insurance does is protect your belongings in case of loss due to fire, theft, and other perils.  For example, if your TV, computer, or jewelry is stolen, your renters insurance coverage will kick in. Renters insurance is usually quite affordable. For a small monthly premium renters insurance will cover:

  • Furniture
  • Appliances
  • Clothing
  • Electronics
  • Computers
  • Jewelry
  • Art
  • And more

While the average renters policy usually offers $20, 000 to $25, 000 worth of coverage, this may not be enough if you have exceptionally expensive art, jewelry, or technology. In such cases, you may want to look into supplemental insurance such as a floater insurance policy. A floater policy kicks in when your original policy is exhausted.  Certain objects or items that are worth more than others are appraised by a third-party and an amount is set. A floater policy provides full replacement value for those enumerated items.


With over 20 years of experience in the insurance industry, the Jeff Van Matre Insurance Agency can help you choose the right coverage plan to protect your personal and business assets and put your mind at ease. To learn more, or to get a free quote,  call our Carrollton office today at 972-492-8500.