9 Real Life Situations Covered by Renters Insurance (2024)

Let’s face it: Renters insurance isn’t the sexiest of topics.

But the thing is, renters insurance can have your back in a bunch of situations that are all-too-common.

As you might already know, renters insurance reimburses you (after you’ve paid your deductible) if something bad happens to you or your stuff.

What does ‘something bad’ mean? Things like theft, fire, vandalism, some types of water losses (ex. burst pipes), a windstorm, etc. (In insurance-speak, we call these things ‘named perils.’ It also covers temporary living expenses if your place becomes unlivable, and also certain medical/legal fees for others if you’re liable.

Still not sold on getting yourself covered? Then consider how many different situations in which you’d be glad you purchased renters insurances.

1. Your phone’s stolen at a music festival

We bring our phones everywhere: to work, a friend’s house, and a cross-country trip.

So naturally, some of the most common Q’s we’re asked at Lemonade are: Does renters insurance cover cell phones? and, Does renters insurance cover theft outside the home?

It sure does!

Renters insurance doesn’t only cover your stuff at home. So if your phone is stolen at a music festival, or on your commute home from work, renters insurance can reimburse you after you’ve filed a theft report with the police.

2. Your laptop’s swiped while traveling

Renters insurance doesn’t only cover loss inside the country – it’s there for you when you’re abroad, too.

Let’s say you’re gearing up for a trip to Europe, and decide to bring your laptop with you. You pack your stuff, jet off to your destination, and unpack your things in your hotel room before you begin to explore. You come back to your room, only to realize your laptop’s missing.

If you have renters insurance, you can relax knowing your laptop’s covered, and enjoy the rest of your vacay.

Bonus: With Lemonade, making a claim takes just a few seconds, so you can get on with your trip abroad. You might even get reimbursed the same day.

3. Your bike’s stolen (even though you locked it)

One last note about theft (we promise!): one of the most common claims we see is stolen bikes.

Even if you take the time to lock up your bike, sometimes you still get unlucky. And lucky for you, renters insurance covers stolen bikes!

If your bike is on the pricey end of the spectrum, you may need to get ‘Extra Coverage’ for it, which will also cover you in the event of accidental damage or mysterious disappearance, with no deductible (score!).

Adding Extra Coverage is easy – after you get a Lemonade policy, you’ll just have to follow a few quick steps, and you’re done!

4. Your neighbors leave their faucet on, and it floods your apartment

Love ‘em or hate ‘em, your neighbors can sometimes make mistakes. And if those mistakes damage your stuff, your policy may have you covered.

Say your neighbors leave their kitchen sink running, or forget to turn off their bathroom faucet, and the water comes dripping down into your apartment. You come home from a long day at work, only to find your stuff soaking wet. No fear – renters insurance can pay you back for the damage caused to your things.

5. Your friend slips and falls at your house party

Picture this: You decide to host a house party for your BFF’s birthday, and your klutz-y friend suddenly slips in your kitchen and twists his ankle. Ouch. He heads over to the hospital, receives his medical bills, and decides to sue you. Double ouch.

Luckily, renters insurance can cover the costs to get you out of this jam. Your personal liability coverage will kick in, and pay for both his medical and your legal fees. Crisis averted!

6. Your plumbing leaks, damaging your stuff

Leaky plumbing can lead to a whole lot of flooding in your apartment or home.When this happens, you might be wondering, ‘does renters insurance cover carpet damage?,’ or, ‘does renters insurance cover water damage to a laptop?’ Luckily, it does!

7. Your apartment catches fire, wreaking havoc on your things

If your stuff goes up in smoke, you can call your insurance company (or, in Lemonade’s case, open the Lemonade app) and file a claim right away.

8. Your neighbor’s apartment catches on fire, forcing you to relocate

Back to those neighbors: Let’s say their apartment caught fire, but the flames spread to your place.

In this scenario, renters insurance can cover not only the damages to your stuff, but also your temporary living costs – this type of coverage is known as ‘loss of use.’ It may even cover the extra $$ you have to spend on food and laundry.

Regardless of whether you think you’ll ever fall victim to a horror story like this—or any of those listed above—renters insurance can help you with one more super common scenario:

9. You’re worried that something might happen

This may sound cheesy, but it doesn’t make it any less true. If you’re worried someone will snatch your phone at a music festival, or swipe your laptop when you’re traveling, your policy will make these worst-case scenarios much less stressful (and consequential).

Renters insurance is there to make you feel safe and calm at the thought of something happening. It’s there to let you focus on your experiences, not your things.

And if you ask us, the value of that is priceless.