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Renters insurance
Your landlord’s policy covers the building, not your things. Renters insurance protects your belongings and your liability, usually for less than the cost of a couple of dinners out each month.
The short answer
Renters insurance, also called an HO-4 policy, covers your personal belongings against fire, theft, wind and other covered losses, pays if you’re responsible for someone’s injury or damage to their property, and covers extra living costs if your apartment becomes unlivable. Many Orlando landlords require it in the lease.
Replacement cost vs. actual cash value. Replacement cost pays what it costs to buy new items. Actual cash value subtracts depreciation, so a five-year-old laptop pays out far less. Replacement cost is usually worth the small extra premium.
Flood. Like homeowners policies, renters policies exclude flood. If you’re on a ground floor or in a flood-prone area, ask us about contents-only flood coverage.
Adding renters insurance to your auto policy often earns a discount that covers much of the renters premium.
Usually only the people named on the policy and their relatives in the household are covered. Roommates generally need their own policies.
Wind damage to your belongings is generally covered, subject to your deductible. Flooding is not, so consider a separate flood policy for your contents.
Walk through your home and estimate what it would cost to replace everything. Most people underestimate. We’ll help you pick a limit that fits.
