Renters Insurance
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As an independent insurance agency, we have access to multiple top-rated insurance companies. We’ll help you find the best coverage at the lowest price.
Understanding Renters Insurance
Renters insurance — also called a tenant’s policy or HO-4 — is a personal insurance policy that protects you for three core categories of exposure: your personal belongings, your personal liability, and your living expenses if you’re forced out of your apartment after a covered loss. It’s designed specifically for people who rent rather than own their home, and it works regardless of what type of rental you live in — apartment, house, condo, co-op unit, or room in a shared residence.
A standard renters insurance policy includes:
- Personal Property Coverage — Pays to repair or replace your belongings if they’re damaged or destroyed by a covered peril — fire, smoke, theft, vandalism, burst pipes, electrical surges, and more. This includes furniture, electronics, clothing, kitchenware, bicycles, and other personal items.
- Personal Liability Coverage — If someone is injured in your apartment or you accidentally damage someone else’s property, this coverage pays for your legal defense costs and any resulting settlement or judgment. Standard limits start at $100,000 and can go higher.
- Medical Payments to Others — Covers minor medical bills for guests injured in your rental unit, regardless of who was at fault. It’s a low-limit coverage designed to resolve small claims before they turn into lawsuits.
- Loss of Use / Additional Living Expenses — If a covered event makes your apartment temporarily uninhabitable, this pays for your hotel, meals, and other reasonable living costs while repairs are made or you find alternative housing.
Your personal property coverage also typically extends beyond your apartment walls. Belongings stolen from your car, lost during travel, or damaged while temporarily stored elsewhere may be covered up to your policy limits — a detail many New York renters aren’t aware of until they need it.
What renters insurance does not cover is important to understand upfront:
- Flood damage — requires a separate flood insurance policy
- Earthquake damage — a separate endorsement or policy
- Your roommate’s belongings — unless they’re specifically added to your policy
- Your vehicle itself — covered under your auto insurance policy