Smart Protection for Renters: Why Insurance Alone Isn’t Enough This Winter

Renters insurance is one of the cheapest policies you can buy, and one of the most misunderstood. Your landlord's insurance covers the building. It doesn't cover your things, and it doesn't cover you if someone is hurt in your apartment.

This guide covers what a renters policy does, where the common gaps are, and simple steps that help you avoid a claim this winter.

What renters insurance covers

A standard renters policy (often called an HO-4) has three main parts:

• Your belongings. Furniture, clothes, electronics and other personal property, if they're damaged or stolen by a covered cause such as fire, smoke, theft or a burst pipe. This usually applies even when the item is away from home, like a laptop stolen from your car.

• Liability. If you accidentally hurt someone or damage someone else's property, for example a guest slips in your kitchen, or water from your unit leaks into the apartment below.

• Loss of use. Extra living costs, like a hotel and meals, if your unit can't be lived in after a covered loss.

Two settings change how much you get back on a claim:

• Deductible. The amount you pay first on a property claim.

• Replacement cost vs. actual cash value. Replacement cost pays what it costs to buy the item new. Actual cash value takes off for age and wear. Ask which one you have.

Common gaps renters ask about

• Cell phones. A phone is personal property, so theft or a covered cause like fire is usually covered, minus your deductible. A cracked screen from a drop usually is not. Phone protection plans and renters insurance cover different things.

• Locksmiths and lockouts. Getting locked out isn't a covered loss on most renters policies. If your keys are stolen in a covered theft, some policies help with rekeying the locks. Check your policy wording or ask your agent.

• Floods. Flooding from rising water is excluded on renters policies. Flood coverage is a separate policy.

• Jewelry, cash and collectibles. Policies often have lower limits for theft of these items. If you own valuable pieces, ask about scheduling them for their full value.

• Roommates. A policy usually covers the people named on it and their relatives living with them. An unrelated roommate typically needs their own policy.

Do insurance companies check building cameras?

After a theft or break-in, the insurance company may ask for a police report, receipts or photos, and any video that exists. Building cameras belong to your landlord or property manager, so ask them to save the footage right away, because many systems record over old video after a short time.

Your own camera can help show what happened and when. If you put one up, point it at your own door or inside your own unit, not at shared hallways or other tenants, and check your lease first.

Winter tips for renters

• Keep the heat on. Many policies can deny a frozen pipe claim if the heat wasn't kept on. If you travel, leave the thermostat at a safe setting and tell your landlord.

• Report leaks fast. Tell your landlord in writing the day you see a leak or drip. Small leaks become big claims.

• Watch for packages. Bring deliveries in quickly, or use a locker or pickup point.

• Make a home inventory. Walk through your unit with your phone and record your belongings, with serial numbers for electronics. Save it somewhere other than your phone.

• Check space heaters. Keep them away from bedding and curtains and never leave them running when you're out.

FAQ

Does renters insurance cover a locksmith if I'm locked out?

Usually not. A lockout isn't a covered loss on most policies. If your keys were stolen in a covered theft, some policies help pay to rekey the locks.

Does renters insurance cover cell phones?

Theft or damage from a covered cause like fire is usually covered, minus your deductible. Accidental drops and cracked screens usually are not.

Do insurance companies check building cameras after a theft?

They may ask for any video that exists, along with a police report and proof of what was taken. Ask your landlord to save the building footage right away.

Does my landlord's insurance cover my belongings?

No. The landlord's policy covers the building. Your belongings and your liability need your own renters policy.

Can security devices lower my renters insurance premium?

Some insurance companies offer a discount for things like monitored alarms or smoke detectors. Ask your agent which ones apply to your policy.

Want to check what your renters policy covers? Call City Insurance and Financial Services at (763) 582-1888, contact us, or get a quote online. See our renters insurance page for coverage details in Minnesota and the other states we serve.

City Insurance and Financial Services, Minnetonka, MN.