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For most people who rent an apartment or home, the cost of renters insurance is quite affordable. What affects the cost of renters insurance are a few factors:
Find out what information is needed to get a renters insurance quote and get a quote today
Many items you own are eligible for coverage on a renters insurance policy while others are not. Some things, like the building, are your landlord’s responsibility to insure.
See the full list of what State Farm® Renters Insurance covers and liability limits by expanding the information in the dropdown.
This coverage helps protect against losses to your personal property, while it is in your home or with you while you travel.
Coverage for your personal property may include losses caused by:
This coverage provides payment for additional living expenses when your home is uninhabitable because of a covered loss. This coverage applies for the shortest time required to repair or replace the premises, or for your household to settle elsewhere, up to 24 months.
This coverage automatically increases the amount of your insurance coverage on your personal property as inflation changes the cost of living.
The changes are based on the movement of an inflation index and are reflected in the premium at each annual policy renewal.
Tip: Select replacement cost coverage from State Farm® to get the most protection for your money.
This coverage provides payment based on the cost to repair or replace the damaged property at the time of loss, if actually replaced.
This coverage provides payment for your legal liability because of bodily injury or property damage caused by an accident to which the coverage applies.
In addition, it may provide for the payment of your legal defense arising from these claims or suits.
This coverage pays medical expenses up to the limits in the policy for people who are on your premises with your permission and are accidentally injured from a covered loss.
While State Farm Renters policy provides coverage for common causes of loss, it does not provide coverage for every loss.
All property coverages are subject to the Losses Not Insured provisions of the policy.
Examples of losses not insured include but are not limited to:
Please refer to the policy for descriptions of losses insured and not insured.
Coverages available for an additional premium include but are not limited to:
When you add a renters insurance policy to a State Farm auto insurance policy (or other policies such as life insurance and/or business insurance), you can save with multiple line discounts.
A “deductible” is the amount that you are responsible for when you file a claim. For example, suppose your covered burglary claim is $10,000, and your deductible is $500. The amount of your claim settlement after applying your deductible is $9,500.
Generally, the higher your deductible, the lower your premium. But with a higher deductible, your financial responsibility would be higher if you file a claim. Your agent can help you determine the deductible that’s right for you.
Provides payment based on the cost to repair or replace the damaged property at the time of loss.
Provides payment based on the cost to repair or replace damaged property less depreciation at the time of loss.
While the Personal Property Loss Settlement provisions determine the loss payment on your personal property, it's important that you know that special limits apply to certain types of property.
Coverage for certain types of property is limited. Here are some items that may have "special limits" in a Renters policy:
Take advantage of what we've learned through the years in Simple Insights.
Purchasing renters insurance is a smart move.
Make sure you ask the right landlord-tenant questions before signing your lease and moving in.
Before a landlord pulls your credit report, review it for potential errors or reported debts that can be paid to better your score.