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If you have ever rented an apartment, a duplex, a home, or another dwelling, you have most likely heard the term “renter’s insurance”. While this may seem like a quick and easy call to your insurance company to add renter’s insurance to your policy, it is always a good idea to know exactly what you are paying for. Today, we are going to look at what renter’s insurance is, what is and isn’t covered by renter’s insurance, and how much you can expect to pay for renter’s insurance.

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If you are ready to switch renter insurance companies or simply want to get a quote to see if you can save money, Baker & Carey Insurance Agency is here to help. With a full staff of experienced renters insurance experts, our team can assist you in finding the best renter’s insurance for your specific needs. Renter’s insurance is not a one-size-fits-all policy. Our team will take into consideration your rental, coverage needs, and budget to help personalize a policy specifically for you.

What Is Renter's Insurance?

Renter’s insurance is a group of coverages that protects renters living in a dwelling that they do not own, such as a rented house or apartment. Renter’s insurance is usually going to include three types of coverage that will offer protection for you, your belongings, and your living arrangements after a covered loss.


Personal Property

What Is Covered: Cost To Repair/Replace Belongings Such As Clothing, Furniture, & Electronics (Up To Limit Of Policy)

What Is Not Covered: Personal Property Loss Over Coverage Limit



What Is Covered: Repairs Needed If You Accidentally Damage Someone Else’s Property Or A Guest’s Medical Bills If You’re Found Responsible For Their Injuries

What Is Not Covered - Liability Protection Over Coverage Limit


Additional Living Expenses

What Is Covered: Cost To Repair/Replace Belongings Such As Clothing, Furniture, & Electronics (Up To Limit Of Policy)

What Is Not Covered: Damage To The Structure Of The Building You’re Renting


Why You Need Renters Insurance


Renters insurance covers you and your personal belongings in the case of natural disaster or theft.


As a renter, you need to protect your own property of value. This can include laptops, TVs, gaming consoles, and expensive kitchen items so you won’t have to pay to replace them.


Anyone can and should purchase a renter insurance plan.


Make a list of your valuable belongings and talk to Baker & Carey Insurance Agency to find the best plan for you.

How Much Does Renter’s Insurance Cost?

One of the biggest questions when it comes to renter’s insurance is how much does it cost? According to NerdWallet, the average renter's insurance cost in the US is $168 per year, which comes out to about $14/month. This was based on a policy for a 30-year-old renter with $30,000 in personal property coverage, $100,000 in liability coverage, and a $500 deductible. Renter’s insurance costs will differ from state to state and every policy will be different.

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