skip to main content
Travelers Logo
  • About
  • Careers
  • Agents
  • Investors
  • Sustainability
  • Contact Us
  • For Individuals
    • Overview
    • Products
      • Car
      • Home
      • Renters
      • Condo
      • Landlord
      • Boat & Yacht
      • Flood
      • Motorcycle
      • Travel
      • Pet
      • Weddings
      • Umbrella
      • All Products
    • Prepare & Prevent
      • Insurance 101
      • Home Central
      • Travelers Garage
      • Managing Through COVID-19
    • Affinity Group Discount
    • Online Service
    • Pay Your Bill
      • Get a Quote
      • Find an Agent
      • File a Claim
      • Pay Your Bill
  • For Business
    • Overview
    • Products & Solutions
      • Overview
      • Boiler & Machinery
      • Commercial Auto & Trucking
      • Cyber
      • Environmental Liability
      • Excess Casualty & Umbrella
      • General Liability
      • Global Insurance
      • Inland Marine
      • Management & Professional Liability
      • Ocean Marine
      • Property
      • Business Owner's Policy
      • Surety Bonds
      • Workers Compensation
        • Find an Agent
        • File a Claim
        • Pay Your Bill
    • Industries
      • Overview
      • Agribusiness
      • Architects, Engineers & Surveyors
      • Auto & Truck Dealers
      • Business & Professional Services
      • Construction
      • Education
      • Energy & Renewable
      • Equipment Dealers
      • Financial Institutions
      • Food Services
      • Health & Related Services
      • Hospitality & Recreation
      • Manufacturing
      • Marine Industries
      • Museums & Fine Art
      • Non-Profit
      • Oil & Gas
      • Public Entities
      • Real Estate
      • Retail
      • Technology
      • Transportation
      • Wholesale & Distribution
        • Find an Agent
        • File a Claim
        • Pay Your Bill
    • Services
      • Overview
      • Risk Control
      • Claim
      • Premium Audit
      • Online Customer Tools
      • Risk Management Information Services
      • Travelers Client Advantage
        • Find an Agent
        • File a Claim
        • Pay Your Bill
    • Small Business
      • Overview
      • Automobile Insurance
      • Business Owner's Policy
      • Data Breach
      • Employment Practices Liability
      • Professional Insurance
      • Umbrella Insurance
      • Workers Compensation Inurance
        • Find an Agent
        • File a Claim
        • Pay Your Bill
    • Large Business
      • Overview
      • Casualty
      • Cyber
      • Management & Professional Liability
      • Property
        • Find an Agent
        • File a Claim
        • Pay Your Bill
    • Multinational Business
    • Prepare & Prevent
      • By Topic
      • By Industry
      • Navigating Your Business Through COVID-19
        • Find an Agent
        • File a Claim
        • Pay Your Bill
      • Find an Agent
      • File a Claim
      • Pay Your Bill
  • Claim Center
    • Claim Center
    • Should I File a Claim?
    • File a Claim
    • Roadside Assistance
    • Find a Service Provider
    • Check Your Claim Status
    • Manage Your Claim Experience
      • Understanding the Claim Process
      • Claim Guide Library
      • Workers Compensation Resources
    • Claim Capabilities
      • Get a Quote
      • Find an Agent
      • File a Claim
      • Pay Your Bill
  • Prepare & Prevent
    • For Individuals
    • Home Central
      • Buying & Selling
      • Home Maintenance
      • Home Renovation
      • Home Safety
      • Moving
      • Smart Home
    • Travelers Garage
      • Buying & Selling
      • Car Maintenance
      • Distracted Driving
      • Safe Driving
      • Teen Driving
      • Boating
    • Insurance 101
    • Weather
    • For Business
    • Industries
      • Construction
      • Manufacturing
      • Nonprofit
      • Small Business
      • Technology
    • Topics
      • Business Continuity
      • Cyber
      • Driver and Fleet Safety
      • Facilities Management
      • Internet of Things
      • Product and Services Liability
      • Supply Chain Management
      • Workplace Safety
    • Travelers Risk Index
      • Get a Quote
      • Find an Agent
      • File a Claim
      • Pay Your Bill
  • About Travelers
    • Overview
      • Awards & Recognition
      • Careers
      • Community
      • Diversity & Inclusion
      • Sustainability
      • History
      • Investors
      • Media Resources
      • News
      • Travelers Championship
      • Travelers Institute
      • Get a Quote
      • Find an Agent
      • File a Claim
      • Pay Your Bill
    • Get a Quote
    • Find an Agent
    • File a Claim
    • Pay Your Bill
Main Navigation
  • For Individuals
      • Insurance for Individuals
      • Products
        • Car
        • Home
        • Renters
        • Condo
        • Landlord
        • Boat & Yacht
        • Flood
        • Motorcycle
        • Travel
        • Pet
        • Weddings & Events
        • Umbrella
        • More
      • Prepare & Prevent
        • Insurance 101
        • Home Central
        • Travelers Garage
      • Affinity Group Discount
      • Online Service
      • Pay Your Bill
    • Get a home quote now

      It's easy to get a free quote for home insurance from Travelers in just a few minutes.

       

      Get a home quote now
  • For Business
      • Products & Solutions
        • Commercial Auto & Trucking
        • Cyber
        • General Liability
        • Management & Professional Liability
        • Property
        • Business Owner's Policy
        • Surety Bonds
        • Workers Compensation
        • More
      • Industries
        • Construction
        • Energy & Renewable
        • Financial Institutions
        • Healthcare
        • Manufacturing
        • Real Estate
        • Technology
        • Transportation
        • More
      • Prepare & Prevent
      • Services
        • Risk Control
        • Claim
        • Premium Audit
        • More
      • Pay Your Bill
      • Small Business
      • Large Business
      • Multinational Business
      • For Business Overview
    • Tips for Managing Risks Related to a Remote Workforce

      Tips for Managing Risks Related to a Remote Workforce

      With the current reality of more employees working from home through the pandemic, is your business ready for all the implications?

      Learn more
  • Claim Center
      • Claim Center
      • Should I File a Claim?
      • File a Claim
      • Roadside Assistance
      • Find a Service Provider
      • Check Your Claim Status
      • Manage Your Claim Experience
        • Understanding the Claim Process
        • Claim Guide Library
        • Workers Compensation Resources
      • Claim Capabilities
    • Send us your receipts, photos, invoices and more with just a push of a button.

      Securely share information with your Claim team.

      Send us your receipts, photos, invoices and more with just a push of a button.

      Upload a File
  • Prepare & Prevent
      • For Individuals
      • Home Central
        • Buying & Selling
        • Home Maintenance
        • Home Renovation
        • Home Safety
        • Moving
        • Smart Home
      • Travelers Garage
        • Buying & Selling
        • Car Maintenance
        • Distracted Driving
        • Safe Driving
        • Teen Driving
        • Boating
      • Insurance 101
      • Weather
      • For Business
      • Industries
        • Construction
        • Energy
        • Manufacturing
        • Nonprofit
        • Small Business
        • Technology
      • Topics
        • Business Continuity
        • Cyber
        • Driver and Fleet Safety
        • Facilities Management
        • Internet of Things
        • Product and Services Liability
        • Supply Chain Management
        • Workplace Safety
      • Travelers Risk Index
    • Managing Through COVID-19

      Managing Through COVID-19

      Resources to help you adapt to the realities of COVID-19.

      Learn more
  • Home
  • Prepare & Prevent
  • Home Central
  • Why You Need a Renters Insurance Policy
Get a Quote*
Renters

INDIVIDUAL

COMBINE & SAVE

Or Call 1.888.695.4625 1.555.555.5555 1.777.777.7777 1.888.342.5977 1.844.754.0044 1.855.656.3103 1.844.403.1464 1.844.719.2120 to get a quote.* Retrieve a saved quote
Find an Agent Log in to MyTravelers®

Travelers is proud to work with the finest Independent Agents

Travelers customer? Log in to MyTravelers®

Why You Need a Renters Insurance Policy

Couple of renters unpacking boxes in apartment Couple of renters unpacking boxes in apartment

Many renters don't realize how much they could benefit from having an insurance policy that can help protect their valuables in a life-changing event like a fire or theft. If you assume that damage to your property in your rental home will be covered by your landlord's insurance policy, you're making a mistake. The owners of rental properties typically purchase only enough insurance to repair or replace their structures. Insuring your personal property is up to you.

If you suffer a loss to your personal property or become the victim of a theft or fire, your landlord may be sympathetic but he or she may bear no responsibility for replacing your property.

Renters insurance offers the same general personal property coverage as homeowners insurance. It helps protect against losses from such mishaps as theft, fire, lightning, vandalism, windstorms and water damage from broken water pipes.

If your rental home should become uninhabitable, your renters policy typically will help address some of the costs for you to temporarily live elsewhere, up to your policy limits. This benefit usually includes the cost of meals, over and above your normal expenses.

Renting a home continues to be a popular lifestyle option, but the importance of renters insurance hasn’t been embraced by many renters. Thirty-seven percent of all U.S. housing units were renter occupied in 2014.1 Unfortunately, most of the occupants were uninsured. A 2016 poll2 conducted for the Insurance Information Institute (III) found that only 41 percent of tenants had renters policies.

Some renters assume they don't own enough valuables to make buying insurance coverage worthwhile. They don't realize that the cost of replacing clothing, furniture, computers, TVs and books can easily add up to thousands of dollars.

Actual Cash Value vs. Full Replacement

An important consideration for consumers is whether to buy an actual cash value renters policy or a policy that covers the full cost of replacement.

With actual cash value coverage, insurers depreciate lost or damaged items based on their age. For example, if you owned a 10-year-old couch that was stolen, the actual cash value would be the cost of buying a used couch of comparable age and condition.

If your policy covered your couch at full-replacement value, your insurer would pay based on the cost of a new couch of the same quality without applying depreciation.

Renters Liability Coverage

Renters insurance does more than help protect your possessions. It can cover you from claims stemming from allegations of negligence. Like homeowners insurance, renters policies cover your liability for injuries or property damage that you, your family members or your pets may cause to others.

For example, if you hosted a party at which someone slipped and was hurt, you could be held financially liable for their injuries. However, the liability section of a renters policy would pay for your legal damages, up to your policy limits if you are found to be negligent and caused the injury. In this situation, the policy would also pay for your legal defense.

Be sure to choose a renters policy with a liability limit that's high enough to protect your personal worth.

How Much Will Your Renters Policy Cost?

Considering the broad protection they offer, renters insurance policies are relatively inexpensive. In 2014, the average annual premium in the U.S. was $190.3 The cost is low because renters don't need to buy insurance to protect their homes, only the contents.

Sources:
1
http://www.iii.org/fact-statistic/renters-insurance
2 http://www.iii.org/fact-statistic/renters-insurance
3 http://www.iii.org/fact-statistic/renters-insurance

Learn More About Renters Insurance

More Prepare & Prevent

Female renter sitting on couch learning about renters insurance

4 Things Every Renter Needs to Know About Renters Insurance

Here are four things you need to know about how a policy can compensate you for lost or damaged property.

Couple of renters asking insurance representative about renters nsurance

5 Questions to Ask Your Insurance Rep About Renters Insurance

Asking the right questions of an insurance rep can help you make the right choice for your needs.

Renter sitting on floor of aparment

How Does Renters Insurance Work?

Get to know the difference between homeowners and renters insurance coverages.

Top Stories
Pearls in a jewelry box that can be covered in valuable items coverage

5 Tips to Protect Your Possessions with Valuable Items Insurance Coverage

Help protect personal items that may have limited coverage amounts or no coverage under the homeowners, condo or renters insurance policy.

  • Learn more

Related Content

  • 4 Things Every Renter Needs to Know About Renters Insurance
  • 5 Questions to Ask Your Insurance Rep About Renters Insurance
  • How Does Renters Insurance Work?

Related Products & Discounts

Renters Insurance

Renters insurance can help to cover more than your personal property. It can help to protect you from personal liability, so you can rest easy.


Jewelry and Valuable Items Insurance

From jewelry to collectibles, you may have more valuables than you realize. Make sure your home insurance policy provides the coverage you need.


Personal Liability Insurance Coverage

This can help financially protect your family in case a third party brings a property damage claim or bodily injury lawsuit against you.


See All Insurance 101 Content


Travelers logo

Travelers and The Travelers Umbrella are registered trademarks of The Travelers Indemnity Company in the U.S. and other countries.
© 2023 The Travelers Indemnity Company. All rights reserved.

  • Travelers on Facebook
  • Travelers on YouTube
  • Travelers on Twitter
  • Travelers on LinkedIn
  • Travelers on Instagram

Products & Services

  • For Individuals
  • For Businesses
  • Claim Services
  • Prepare & Prevent

Our Company

  • About Travelers
  • Careers
  • Investors
  • Sustainability
  • Travelers Institute

Connect

  • Customer Support
  • MyTravelers®
  • For Agents
  • Find an Agent

Legal & Compliance

  • Terms of Service
  • Privacy & Security
  • Cookie Settings
  • Accessibility
  • Producer Compensation Disclosure

*Quotes may not be available in all states or for all products. In CA, quotes for all products must be obtained through a local independent agent.

The information on this site is general in nature. Any description of coverage is necessarily simplified. Whether a particular loss is covered depends on the specific facts and the provisions, exclusions and limits of the actual policy. Nothing on this site alters the terms or conditions of any of our policies. You should read the policy for a complete description of coverage. Coverage options, limits, discounts, deductibles and other features are subject to individuals meeting our underwriting criteria and state availability. Not all features available in all states. Discounts may not apply to all coverages and/or vehicles.

Insurance is underwritten by The Travelers Indemnity Company and its property casualty affiliates, One Tower Square, Hartford, CT 06183. In TX: Automobile insurance is offered by Travelers Texas MGA, Inc. and underwritten by Consumers County Mutual Insurance Company (CCM). CCM is not a Travelers Company. In CA: Automobile Insurance is underwritten by Travelers Commercial Insurance Company, Certificate of Authority # 6519; Travelers Property Casualty Insurance Company, Certificate of Authority # 6521. Homeowners Insurance is underwritten by The Standard Fire Insurance Company, Certificate of Authority # 3545. Boat and Yacht Insurance is underwritten by The Standard Fire Insurance Company, Certificate of Authority # 3545. All underwriting companies listed above are domiciled in the state of Connecticut and are located at One Tower Square, Hartford, CT 06183. In WA: Automobile Insurance is underwritten by The Standard Fire Insurance Company. Homeowners Insurance is underwritten by Travelers Personal Insurance Company. Personal Article Floater Insurance is underwritten by The Phoenix Insurance Company and The Travelers Indemnity Company of America. Personal Liability Umbrella Insurance is underwritten by The Standard Fire Insurance Company, The Automobile Insurance Company of Hartford, Connecticut, The Travelers Indemnity Company of America, The Travelers Home and Marine Insurance Company, Travelers Commercial Insurance Company and Travelers Personal Insurance Company. Special Event Insurance is underwritten by The Standard Fire Insurance Company. Boat Insurance is underwritten by The Travelers Home and Marine Insurance Company. Yacht Insurance is underwritten by The Standard Fire Insurance Company, The Automobile Insurance Company of Hartford, Connecticut, and The Travelers Indemnity Company of America. Underwriting companies in CA and WA listed above are located at One Tower Square, Hartford, CT 06183.

Pet Insurance, Motorcycle Insurance, and Travel Insurance is not underwritten by Travelers or its Affiliates (“Travelers”). Travelers utilizes its affiliate, InsuraMatch, LLC, an independent insurance agency, to refer consumers interested in pet coverage, motorcycle and off-road vehicle coverage, and travel coverage. For more information about the underwriting entities click “Learn More” to be directed to the specific product page.