Do I Really Need Tenant Insurance? Event

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Do I Really Need Tenant Insurance?

When you’re renting your home, getting insurance may not be at the top of your list because you believe your landlord will handle everything if an incident happens. Renting an apartment or home can be expensive, especially when you start adding up utilities (if you need to pay them), groceries, and all the other financial responsibilities. Adding insurance onto that pile of bills may sound like something you’d like to avoid, but not getting tenant insurance can be a costly mistake. Fortunately, coverage can be very budget-friendly. 

What Is Tenant Insurance?

This kind of insurance is similar to homeowner’s insurance, except that there isn’t any coverage for the physical structure of where you live. Tenant insurance is designed specifically to cover your personal belongings and liability coverage for yourself.

What Does Tenant Insurance Cover?

Most policies will generally cover the following categories:


This coverage protects you from damage you cause to others. Whether it is causing bodily injury or physical damage to the property of others, liability coverage will protect you in case someone sues you for damages because of your negligence. An example of this coverage would be if you accidentally caused a fire because you left a candle unattended. As a result, the entire building was destroyed, causing bodily injury to others. Your liability coverage would protect you in an inevitable civil action lawsuit against you. 


This is probably the biggest component of your tenant insurance. The best way to summarize this part of the insurance is to take inventory of all the items in your home (TVs, laptops, couches, chairs, dressers, beds, tables and so on) as these would be the items covered for replacement if something happened.  

Additional Living Expenses  

If a situation happened in which you couldn’t live in your home or apartment for an extended period (like a flood or fire), this would cover any additional expenses you may incur for your food, lodging, and other expenses until you were able to return home. 

So, Do I Need Tenant Insurance? 

Sometimes when you apply to rent a new apartment, the application will state that you must be able to provide proof of renter’s insurance, but does that mean you absolutely have to have it?  

Technically, no. Tenant insurance is not a legal obligation, but landlords can put this stipulation into the rental agreement if they want to.   

Even if your landlord doesn’t have this requirement, it’s strongly recommended that you consider getting this kind of insurance if you’re renting.  

Tenant insurance, sometimes also called renter’s or contents insurance, is the best way to protect yourself and your belongings if an incident were to happen. 

Contact ICD Insurance Today 

If you are currently renting (or about to rent) and you have not yet purchased tenant’s insurance, it is highly recommended that you put this protection in place. And if you are concerned about the cost, don’t worry—there are ways that our brokers can help to reduce those costs (such as getting a higher deductible).  

Contact us today to speak with one of our brokers!