What Is Renters Liability Insurance?
Renters insurance liability coverage protects you from accidental injuries or damages to another person’s property.
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Written byJamie Johnson
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6 years experience in personal finance writing
Featured on Credit Karma and Insider
Jamie is a meticulous researcher who has published 2,000+ personal finance articles. Her expertise is trusted by major brands like Bankrate and Rocket Mortgage.
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Edited byKatie Powers
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Licensed auto and home insurance agent
3+ years experience in insurance and personal finance editing
Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.
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You may feel like you face fewer risks as a renter than homeowners, but that’s not necessarily true. If a guest incurs an accidental injury on your property or if your pet bites one of the neighbors, you’ll be liable for any damages.[1] In these situations, renters insurance liability coverage can be an invaluable asset.
No U.S. states legally require renters insurance, but it may be a condition of your lease. You should consider buying renters liability insurance for its legal and financial protections, even if your landlord doesn’t require it.
Here’s what you should know about how renters liability insurance works and what it covers.
Understanding renters liability insurance
Renters liability coverage protects you against lawsuits resulting from injuries or property damage that you, one of your family members, or a pet cause. It’s one of a few coverages included in a standard renters insurance policy. Renters insurance will also cover losses for your personal possessions and additional living expenses.[2]
For example, if your apartment building catches fire, renters insurance should cover any resulting damages to your personal belongings. If your home is temporarily uninhabitable, renters insurance will pay for additional living expenses, such as food, shelter, and other expenses incurred.
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What renters liability insurance covers
Renters insurance covers injuries for someone who has an accident on your property or damages you or a family member caused to another person’s property.
Here’s what renters liability insurance covers:
Bodily injury protection
If a guest falls and injures themselves at your home or your dog bites someone, this policy can pay for any resulting medical bills.
Property damages
If you or someone else in your household accidentally damages property that belongs to someone else, this coverage pays to repair or replace it.
Court costs
Your renters policy should pay for your legal fees and court costs if someone sues you for injuries or property damage.
What renters liability coverage excludes
Renters liability insurance pays for injuries or property damages you cause to another person, but it won’t pay for injuries or damages to you or one of your family members. For example, if a guest falls and has an injury, you can submit a liability claim to your insurance company. But you can’t submit a claim if you or a family member incurs an injury at home.
How much personal liability coverage you need
It’s important to determine how much liability protection you need. To figure this out, you can start by evaluating the total value of your assets. Your assets include any savings, investments, and personal property you have. You can also do a home inventory to determine the value of your belongings.
You should also consider any potential risks that could increase the likelihood of an incident, like dogs you own or if you frequently host get-togethers. You should also think about any risk factors you face depending on where you live.
For example, a standard renters insurance policy doesn’t typically cover floods and earthquakes. If that’s a threat you face, you may want to purchase supplemental coverage.
Do landlords require renters insurance?
State laws don’t typically require renters insurance, but some landlords may include a clause in the lease agreement requiring renters to purchase renters insurance. For example, your landlord may require you to purchase a minimum amount of renters insurance as part of your lease agreement.
These clauses protect you and your landlord. If your landlord requires this as part of your rental agreement, you may need to show proof of insurance before you can renew your lease.
Most landlords have landlord insurance to repair or replace damages to the structure of the building or common areas.[3] But it won’t pay to replace your personal belongings, so you’ll want to have rental insurance as well.
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How much does renters insurance cost?
Renters insurance is relatively affordable, with average costs between $15 and $30 per month. But many different factors can affect the cost of rental insurance, such as your ZIP code, property, and how much coverage you have. It’s a good idea to speak to an insurance agent who can provide coverage help.
Below, you can see the average costs of renters insurance based on different amounts of personal property and personal liability coverage.
Personal Property Amount ▲▼ | Personal Liability Amount ▲▼ | Average Monthly Cost ▲▼ |
|---|---|---|
| $30,000 | $100,000 | $19 |
| $50,000 | $500,000 | $29 |
| $100,000 | $750,000 | $41 |
Renters liability coverage FAQs
Renters liability insurance provides valuable legal and financial protection to renters. Here’s some additional information you may find helpful.
What does and doesn’t renters insurance cover?
Renters insurance coverage typically protects you if another person incurs an injury on your property or if you damage another person’s property. But it won’t cover the costs related to your own injuries or property damage.
What are the three different types of coverage in a typical renters insurance policy?
A standard renters insurance policy covers your personal possessions, provides liability coverage, and pays for any additional living expenses. It either pays to replace the actual cash value of your possessions or the replacement cost up to the limits of your policy.
Can your landlord require renters insurance?
Yes. Your landlord can require you to purchase and maintain a renters insurance policy as a condition of your lease. Make sure you understand the minimum coverage and proof of insurance requirements before agreeing to anything.
What’s the difference between personal liability and property liability?
Personal liability protects you from any lawsuits or medical costs resulting from injuries another person receives on your property. Property liability protects you if you accidentally damage or destroy another person’s property.
Sources
- Insurance Information Institute. "Renters Insurance."
- Insurance Information Institute. "Your renters insurance guide."
- Insurance Information Institute. "Coverage for renting out your home."
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Jamie Johnson
Jamie Johnson is a Kansas City-based personal finance writer whose work has been featured on several of the top finance and business sites in the country, including Insider, Credit Karma, Bankrate, Rocket Mortgage, Fox Business, Quicken Loans, and The Balance. For the past six years, she's dedicated more than 10,000 hours of research and writing to more than 2,000 articles about personal finance topics.
Jamie has been a contributor at Insurify since October 2022.
Licensed auto and home insurance agent
3+ years experience in insurance and personal finance editing
Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.
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