Renters insurance is the cheapest real insurance product on the market, and the one most 20 somethings don't bother with until a kitchen fire, a theft, or a burst pipe turns a normal month into a financial emergency. Here's what it actually covers and why most renters dramatically under insure or skip it entirely.

We write renters policies across all 18 states OnePoint serves, usually bundleable with an auto policy for additional discount.

What Renters Insurance Covers

A standard renters policy is built on three core pillars. Each one solving a different kind of loss.

Three core protections

• Personal property, your stuff, at home and while traveling

• Personal liability, if someone is injured in your unit or you accidentally damage someone else's property

• Loss of use / additional living expenses, if your unit becomes uninhabitable, covering hotel, meals, and related costs

Standard limits typically run $20,000 to $50,000 for personal property, $100,000 to $300,000 for liability, and roughly 20 to 30% of your personal property limit for additional living expenses.

What It Does NOT Cover

Knowing the gaps matters as much as knowing the coverage:

• The building itself, that's the landlord's policy

• Flood, requires a separate NFIP policy

• Earthquake, only with an added endorsement

• Your roommate's belongings, unless they're a named insured

• Business equipment, beyond a small sublimit

• Bed bugs and pests, nearly always excluded

• High value items like fine jewelry or cameras beyond sublimits, need scheduled personal property

About $15 a month to sleep easier. Quote renters insurance with $300K liability in under 10 minutes. Get a free renters quote now.

Actual Cash Value vs. Replacement Cost

This one choice decides what you actually get paid after a loss. ACV pays the depreciated value. Your 5 year old laptop is worth roughly $200, not the $1,500 you paid. Replacement cost pays what it costs to buy the same item new today. RCV adds 5 to 15% to the premium and is almost always worth it.

What Renters Insurance Actually Costs

Most renters pay $12 to $25 per month. Discounts stack quickly: bundling with auto, security systems, smoke alarms, and multi year policies can each trim the premium. For most people, it costs less than one dinner out per month.

Liability is the real reason: Most renters buy the policy for their stuff. The bigger deal is the $100K to $300K of liability protection. A slip and fall lawsuit or an accidental apartment fire can follow you for years.

Who Should Skip It (Almost Nobody)

The only people who can reasonably skip renters insurance are those with negligible belongings and no liability exposure. But even if your stuff is minimal, a $300,000 liability claim from someone slipping in your doorway could follow you for decades. The liability alone is worth the premium.

Real example: A 26 year old in Atlanta with $25K of personal property and $300K of liability typically pays $14 to $18/month. Less than $200 a year for coverage that could save you tens of thousands.

Signed a new lease or moving soon? Many landlords now require proof of renters insurance. Talk to a OnePoint advisor or call 888-899-8117 and we'll have you covered the same day.

Frequently Asked Questions

Does my landlord's insurance cover my stuff?

No. Your landlord's policy covers the building only, not your belongings or your liability.

Is renters insurance required?

Not by law, but many landlords require it as part of the lease.

Does it cover roommates?

Only if they're listed as a named insured. Most carriers don't allow unrelated roommates on the same policy. Each should carry their own.

What if I travel a lot?

Personal property coverage typically follows you worldwide, usually up to 10% of your personal property limit.

What about my laptop or phone?

Covered up to limits, usually with a deductible that can hurt. If your gear is expensive, ask about a scheduled personal property endorsement.

How OnePoint Can Help

As an independent agency, we shop renters coverage across multiple top rated carriers and bundle it with your auto policy to drop the combined premium further. We help you dial in replacement cost versus actual cash value, set liability limits that match your risk, and add endorsements for anything expensive enough to need scheduling.

Want to see what your rate could be? Get a free renters quote, or talk to a licensed advisor and we'll walk through it together.

The cheapest insurance you actually need

Protect your stuff and your future in 10 minutes.

A single liability claim can cost more than a decade of premiums. Renters insurance is too cheap and too protective to skip. A OnePoint advisor can quote you in minutes.

Get a Free Renters Quote | Call 888-899-8117