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Renters Insurance Coverage

Learn more about how Farmers® renters insurance works — from coverage options and deductibles to policy limits.

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What renters insurance typically covers

Theft, fire damage and vandalism are among common risks covered by a renters insurance policy. A Farmers renters policy typically includes:

Personal property coverage
to help pay for stolen,
damaged
or destroyed belongings.

Personal liability protection
to help pay legal expenses and
other costs if you’re sued for
damages or injuries you’re at
fault for.

Additional living expenses or loss of use coverage
to help pay rent and other costs if you have to live elsewhere during repairs.

A typical renters insurance policy provides "named perils" coverage, which means all risks named in the policy are covered. Or you can choose "open perils" coverage. This option covers any sudden, accidental damage or loss, except listed exclusions such as damage from flooding or earthquakes — which require separate policies — or pests.

Bundle with Farmers and save

Talk to a Farmers agent to see how much you could save by bundling your renters and auto insurance.

How renters insurance deductibles work

When you file a claim, your deductible is the amount of money you pay toward a covered claim. You pay your share before Farmers pays the remaining costs, up to your policy limit. For example, if you select a $500 deductible on your policy and you suffer an insured loss of $5,000, your policy can cover the remaining $4,500.

What are renters insurance coverage limits?

When you buy a renters insurance policy, you not only choose the deductible, you also choose the coverage limit. This is the maximum amount an insurance company will pay for a covered claim.

Renters insurance policy declarations page – what is it and when do you need it?

Your policy declarations page is a handy summary of the policy’s coverage, including your deductible, coverage limits, premium cost and what is covered. But a "dec" page is not a certificate of insurance (COI), which your landlord may require as proof of insurance. Your declarations page may contain more private information than you wish to share. Contact your Farmers agent for a COI. 

Other types of coverage for renters

A standard renters policy may not include all of the coverage you want. Additional policies can help you protect what matters most.

Flood insurance can help pay for damage caused by flooding.

Earthquake insurance can help cover damage to your belongings after an earthquake. 

Water backup coverage can help with repair costs for damage caused by a sewer or drain backup or a sump pump overflow. 

Umbrella insurance can extend your liability coverage above the limits on your renters policy.

Pet insurance can reimburse up to 90% of the cost of eligible veterinary treatments1.

Valuable item coverages allow you to raise the limits on possessions like artwork and jewelry that might not be fully covered under your personal property coverage limit. 


Related articles

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. 

Although renters policies have a one-year term, there is no need to reapply every year. Your insurer will offer to renew your policy and continue to cover you if you pay the renewal premium.

The average yearly premium for renters insurance is $170, or about $14 per month. Renters insurance can be quite a bargain, when you consider the cost of replacing things like a cell phone, computer, furniture and other belongings if they’re damaged or stolen.

The answer is no and yes. If your cat tears up your apartment's wall-to-wall carpeting or your brand new couch, renters insurance typically does not cover the damage. But if your dog bites someone or gnaws the legs off your neighbor's lawn furniture, your renters insurance might provide coverage.

Pet insurance products offered and administered by Pets Best Insurance Services, LLC are underwritten by American Pet Insurance Company, a New York insurance company headquartered at 6100 4th Ave. S. Suite 200 Seattle, WA 98108, or Independence American Insurance Company (NAIC#26581), a Delaware insurance company located at 11333 N. Scottsdale Rd, Ste. 160, Scottsdale, AZ 85254. Each insurer has sole financial responsibility for its products. Please refer to your declarations page to determine the underwriter for your policy. Terms and conditions apply. See policy for details. Pets Best Insurance Services, LLC (NPN#, 8889658, CA agency #0F37530) is a licensed insurance agency located at 10840 Ballantyne Commons Parkway, Charlotte, NC 28277.

1Select a plan that reimburses 70%, 80%, or 90% of the cost of eligible veterinary treatment. Limited to covered expenses. Terms and conditions apply. See policy for details.