What You Need to Know about

Renters Insurance

Many people in the District rent a home or apartment and the number of renters continues to

possessions or being liable for someone being injured on your premises will cost much more.

• "I don't have that many valuables." Even a minimal number of small household appliances

can add up to more than you realize and if you add in expensive sound systems and clothing,

the cost to replace your belongings could be much higher than you think.

• "My landlord has insurance, so I'm already protected." The landlord’s insurance does not

extend to your personal property, nor does it protect you from being liable for damage you

might cause to the building (e.g., a kitchen fire or a plumbing mishap) or for another person’s

injuries that occur inside your apartment. Your landlord has insurance for damage to the

building and protection for lawsuits filed against the landlord but that insurance does not

cover renters.

DISB offers these tips for renters:

How much renters insurance do you need? Talk to your insurance agent or company about the

property you want to protect and the hazards you would like to be insured from. Your agent can

provide guidance based on your specific needs. Questions you might ask include:

• What hazards are included in your plan and if you need a separate policy for specific

circumstances;

• If your insurance plan affects your roommate(s), if any;

• How you should determine value for your items;

• What some of the insurance terms mean or what they include;

• What optional coverage might be available to you; and • How much liability coverage is

about discounts.

3. Are you covered in the case of a flood or earthquake? These natural disasters are not

generally covered by a renters insurance policy. If you believe you may be subject to these risks,

ask your insurance agent or company if your policy fully protects you or whether you need to

purchase additional coverage.

4. Could owning a pet cause your premium to be higher? Certain municipalities require that

owners of select breeds of pets buy liability insurance to cover injuries caused by the animal. Some

insurance companies might only provide this insurance through the purchase of additional

6. Is personal liability included? A renters insurance policy also covers your personal legal

responsibility (or liability) for injuries to others and/or their property while they are on your

property.

7. Will you receive additional living expenses if you have to live somewhere else while your

apartment is being repaired? If there is damage to the building you are renting and you must

live elsewhere during repairs, additional living expense coverage will help pay rent at another

location.

8. How do you expedite your renters insurance claim? A home inventory - along with photos

forms. The Comprehensive Form covers your possessions against more perils but costs more. The

Broad Form covers less but costs less. Review your specific situation with your insurance

professional.

10. I have some jewelry and one expensive painting; are they covered? The typical renters

policy does not cover certain items of high value, however, a jewelry floater or fine arts floater can

be added that will specifically name high value items and insure them at specified amounts.

11. If I file a claim how am I reimbursed? Most policies insure your possessions on a

The mission of the Department of Insurance, Securities, and Banking is two-fold: (1) protect

consumers by providing equitable, thorough, efficient, and prompt regulatory supervision of the

financial services companies, firms, and individuals operating in the District of Columbia; and (2)

develop and improve market conditions to attract and retain financial services firms in the District

of Columbia. Visit us on the web at disb.dc.gov.