What type of costs can renters insurance cover?

Renters insurance is primarily designed to protect renters’ personal property and can cover expenses for personal property replacement. This includes damage or loss due to events such as fire, theft, or vandalism. When a covered event occurs, renters insurance can reimburse individuals for the cost of replacing their belongings, such as furniture, electronics, clothing, and other personal items.

Understanding the purpose of renters insurance clarifies its focus on personal property rather than covering medical expenses, utility costs, or legal fees, which fall outside the scope of what renters insurance typically provides.