Renters insurance covers your personal belongings at home if you rent a house or an apartment, but does it cover damage to your car as well? This article answers that question and breaks down the basics of renters insurance.
What Is Renters Insurance?
Renters insurance covers your personal belongings inside your rented home. In addition, many policies cover your personal property wherever it may be, including in a storage unit or anywhere else you might keep it.
Renters insurance also provides the following coverage:
- Liability coverage: Renters insurance protects you if you get sued when someone gets hurt in the apartment or house where you live. Limits do apply, so check with your agent to learn about any special limitations.
- Medical coverage: Renters insurance pays the medical bills if someone is injured in your home, up to a certain amount. Unfortunately, this coverage does not apply to you or other members of your household.
- Other property damage: Renters insurance also provides coverage if you accidentally damage someone else’s property while visiting their home. This functions similarly to the liability insurance in a homeowners policy, providing coverage if you or someone in your family breaks a window or other item at someone else’s house.
- Additional living expenses: If your apartment becomes damaged due to some sort of peril, renters insurance pays for you to stay somewhere else while your home is repaired. Renters insurance policies do have limits for this type of coverage, so check with your agent before using it.
What Does Renters Insurance Cover When It Comes to Your Car?
As outlined above, renters insurance covers your personal belongings wherever they may be. This includes items left inside your car. As long as you took reasonable steps to prevent the loss of the items, your renters insurance should provide coverage for your losses.
Of course, you must pay the deductible on your policy before the renters insurance takes over, with most renters insurance policies carrying a deductible ranging from $500 to $1,000.
Does Renters Insurance Cover Car Damage?
Renters insurance does not cover damage to your car. Instead, your comprehensive, collision, or at-fault driver’s liability coverage will take care of any damage to your car as a result of an accident or other event, such as an act of nature.
In addition, even though renters insurance covers any personal belongings stolen from your car, it does not cover the damage done to gain entry to your vehicle. For that, you need to turn to your car insurance policy.
Acquiring the appropriate amount of renters insurance to cover your personal belongings can give you peace of mind. And remember, renters insurance can replace your items regardless of where you keep them, including in your home, at work, or even in your car.