Apartments are great for people who don’t want to worry about upkeep and repairs to their living space. Don’t like to mow? The landlord will take care of it. Got a leak in the faucet? The landlord will contact a plumber. You get the idea, right? Apartment living can be a weight off your shoulders if you work long hours and don’t want to spend your time fixing and maintaining your home.

While apartment dwellers can rightfully shift some worries to the landlord, there are some things that renters should consider – like renters insurance. There is a common misconception out there that a landlord’s insurance policy will cover a renter’s possessions. There is also a tendency for renters to misjudge the value of their possessions and think, “I don’t have that much valuable stuff.” Both of these beliefs are far from accurate.

Let’s take a scenario where your apartment is damaged by smoke from a fire, water from a burst pipe, or a burglary. Your landlord’s insurance only covers the building itself, your possessions would not be covered. Therefore, you would be responsible to replace or repair anything you deemed necessary such as your: devices, T.V., computer, furnishings, and your wardrobe. Imagine having to start from scratch and invest in all of those items you have collected over the years? It could be financially devastating.

What Does Renters Insurance Cover?


Your “stuff” is included in renters insurance! Depending upon your policy, your personal possessions will be covered in the case of fire, smoke, lightning, theft, vandalism, explosion, windstorm, water, and other unthinkable disasters. The rest of the building, including the roof, walls, appliances, plumbing, and electrical would be covered under the landlord’s policy.

Living Expenses

Let’s just take an example of an apartment that was damaged by smoke. It will take some time to clean and repair any damage that was evident in your apartment. Now, what do you do? Renters insurance may also provide coverage for a place to stay, meals, and related expenses if your apartment is uninhabitable.


One final area where renters insurance would be needed is in the case of a visitor getting injured or having an accident while in your apartment. The personal liability coverage included in a renter’s policy could help with paying medical bills or other expenses related to the accident.

Currently, renters insurance is not mandatory but some states are considering it due to the liability aspect. Every situation is different, so we find it best to talk to your agent to find out what would be covered in your particular case and bring up any specific concerns or special circumstances you feel your apartment may have.

Do you have questions about how much renters insurance would cost or what it would cover? Call Phil Richard Insurance at 978-774-4338. We’ll be happy to talk you through what you need to know.