1st Rate Rentals has partnered with Sure, a digital insurance platform, to provide tenants with a fast and convenient way to obtain renters insurance from licensed insurance providers. Policies can typically be quoted and purchased online in just a few minutes.
Coverage for your peace of mind
Protect your belongings from theft, fire, or damage with renters insurance. For just a few dollars a month, cover everything from furniture to electronics - and get liability protection too. Get a quick quote and safeguard your home today.
Personal property
Costs to repair belongings like furniture, electronics, clothing, etc.
Liability
Pays out if the renter is responsible for injury or damage to another's property
Loss of use & living expenses
Covers hotel stays, meals and other expenses due to living outside the rental home during repairs
Frequently asked questions
Find answers to your insurance questions here.
What is renters insurance & why is it needed?
Individuals who rent an apartment, condo, townhome, or house need renters insurance to cover their personal belongings in the event of a disaster like a fire, theft, or legal expenses if someone is injured on the property. Without renters insurance, the individual is responsible for all the costs associated with events like:
• Theft and vandalism
• Fire and smoke damage, water damage from plumbing or appliances
• Loss of use costs if the home becomes uninhabitable
• Vehicle damage to the property
Additionally, the liability coverage portion of renters insurance will help cover the costs associated with lawsuits should the renter be sued for injuries that a guest suffers on the property or for damage to their property.
How does renters insurance work?
Renters insurance works by providing financial protection against covered events such as theft, fire, or water damage. When an incident occurs, you can file a claim with your insurance provider. If the claim is approved, the insurer will reimburse you for the cost of repairing or replacing your personal belongings up to the coverage limit. The policy may also provide temporary living expenses if you need to relocate and liability coverage if you are responsible for injury or property damage to others.
Is renters insurance required?
Renters insurance is not legally required, but many landlords require tenants to have a policy as part of the lease agreement. Even if it's not mandatory, renters insurance is highly recommended to protect your personal belongings and provide liability coverage.
What does renters insurance NOT cover?
Renters insurance typically does not cover:
• Damage caused by natural disasters like floods or earthquakes (unless additional coverage is purchased).
• Damage to the structure of the building (covered by the landlord's insurance).
• High-value items like expensive jewelry, artwork, or collectibles beyond a certain limit (unless additional coverage is purchased).
• Intentional damage caused by the policyholder.
How much does renters insurance cost?
The cost of renters insurance varies based on factors such as location, coverage limits, and any additional coverages. On average, renters insurance costs between $15 and $30 per month for standard coverage. Additional coverage for high-value items or specialized protection may increase the cost.
Disclaimer: 1st Rate Rentals and Real Estate, Inc. is not an insurance company, agency, or licensed insurance broker and does not sell or service insurance policies. Renters insurance products referenced on this page are made available through Sure, and policies are issued by licensed insurance providers. Tenants are free to obtain coverage from any provider of their choice.
1st Rate Rentals and Real Estate, Inc. may receive compensation from Sure for referrals made through this page. Coverage, pricing, and policy terms are determined solely by the insurance provider. 1st Rate Rentals and Real Estate, Inc. does not provide insurance advice. Coverage questions should be directed to the insurance provider or a licensed insurance professional. Tenants are responsible for obtaining and maintaining any required renters insurance in accordance with their lease.