Would Renters Insurance Be Worth It if I Don’t Own Much?

Would Renters Insurance Be Worth It if I Don’t Own Much?

Would Renters Insurance Be Worth It if I Don’t Own Much?

Here’s the short answer:

  • Renters insurance covers your personal possessions like furniture, electronics and clothing.
  • It can help cover the cost to replace them with new merchandise at today’s prices.
  • Farmers® polices help cover temporary living costs if your apartment is damaged.
  • You also get personal liability coverage with your renters policy. 

Q: I just got my first real job and I’m moving out of my parents’ house. I have some furniture, but nothing fancy. Does it make sense to get renters insurance at this early stage?  

Art Rusak is a Farmers Insurance® agent in Chicago, Illinois. He explains all the ways renters insurance helps you protect your assets.

A: Even though you’re just getting started, your personal possessions are probably worth more than you realize. You’ve got furniture, clothes, electronics, weekend gear and dishes in the cupboard. It all adds up. Now imagine you have to run out and replace everything at today’s prices. That’s going to be a very expensive shopping trip — unless you have renters insurance to help cover the cost.

Farmers renters policies also cover loss of use, for example if you can’t live in your apartment because of a fire, weather damage or other sudden event. You might not be able to return for months. Your policy will help cover the cost of temporary increased living expenses, like a hotel room and meals.

You also get liability coverage with a renters policy. This covers your responsibility for bodily injury to others or damage to their property. Let’s say you forget to turn off the oven and cause a small fire that damages the kitchen. Maybe you shatter someone’s windshield with a golf ball, or crack a guy’s rib with your elbow while playing basketball. Your actions are unintentional, but you could still be responsible for the costs.

Find a Farmers® agent to answer your Renters Insurance questions

Talk to an agent about a renters insurance policy today.

Get a quote

Includes personal service from a Farmers agent.

Written by

Dawn Johnson


The information contained in this page is provided for general informational purposes only. The information is provided by Farmers® and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to this article or the information, products, services or related graphics, if any, contained in this article for any purpose. The information is not meant as professional or expert advice, and any reliance you place on such information is therefore strictly at your own risk.

Related articles