Do I Need Renters Insurance?

About half of renters (48%) said in a 2024 Zillow survey that they have renters insurance, while only 32% say that their landlord or property manager requires renters insurance. Some landlords may specify in the lease agreement that renters insurance is required to reduce liability risks, prevent the need to file claims on their own insurance, and potentially reduce tenant disputes over property damage.

While renters insurance is not legally required in any state, coverage can be a smart way to protect yourself and your belongings from unexpected events. If your personal belongings are lost or damaged or you need temporary housing because your rental is uninhabitable, you’ll likely want renters insurance to cover the cost or replacement.

Here are several reasons why you may want or need renters insurance:

Covers the cost of replacing your stuff if lost, stolen, or damaged

Your landlord’s insurance policy offers financial protection to them if their rental property is damaged or they’re found liable for injury on the property. Their policy does not cover you, as the renter, or your belongings.

Think about all the items you own; you might have a smartphone, TV, laptop, gaming system, furniture, clothes, and shoes. Could you afford to replace all of them at once if something happened like a fire, water leak, or natural disaster?

Renters insurance helps cover the cost of personal belongings if they’re damaged, lost, or stolen, even in cases you might not expect, like a stolen bike or a car break-in that happens in your driveway. A good first step to decide whether renters insurance is worth it is to take inventory of your stuff and estimate its total value. You might be surprised how quickly it adds up.

Protects you against liability accidents

Renters insurance also includes liability protection (often up to $100,000 or more), which can offset legal costs if you’re found responsible for injury to others or damage to their property.

Say you borrow something that gets lost or stolen. Renters insurance applies to damage caused to personal property of third parties. Maybe you hit a golf ball through your neighbor’s window, renters insurance can apply off-premises as well. Renters insurance even covers liability if you're sued by someone who gets injured while at your residence and it leads to court costs, legal fees, medical expenses, or other damages.

Do you have a pet? You may also be liable for injuries caused by your pets. Confirm your renters insurance policy will provide liability protection for injuries caused by your pet. You might also want to consider increased liability limits. Keep in mind, some policies may have exclusions for certain dog breeds or animals with a history of biting.

Covers the cost of temporary housing

If your apartment becomes uninhabitable due to a covered event, like a fire or water leak, renters insurance can help cover the additional living expenses you incur while it’s being repaired. That may include hotel costs, meals, and other temporary expenses. 

Coverage is relatively affordable

Renters insurance is typically affordable, with policies often costing only a small monthly amount while offering coverage for belongings, liability, and temporary housing. Premiums for renters insurance averaged $276 a year (or $23 a month) in 2025, according to ValuePenguin. Keep in mind, your actual cost will depend on factors like location, coverage limits, and deductible.

For many renters, the cost of coverage is manageable compared to the potential expense of replacing belongings or covering liability out of pocket. A small monthly premium can help safeguard your belongings, provide liability coverage, and cover temporary housing if needed. 

Some landlords require it

Before you sign a new lease, ask the landlord if they require renters insurance and how much. By getting a renters insurance policy, you’re reducing your landlord's liability risk and gaining your own financial protection against unexpected damages, losses, or liability. It’s a small step that shows you’re serious about protecting the space you live in.

If your landlord or property manager requires renters insurance, you’ll typically need to show proof of coverage before moving in or renewing your lease. Your insurance company will either provide a declaration page as proof, or your landlord may ask to be listed as an interested party on the policy. This means the landlord will be informed of policy modifications or non-renewal. 

Is renter insurance worth it?

For many renters, the answer is yes. While it’s not legally required, renters insurance can offer valuable protection — covering the cost to replace stolen or damaged belongings, providing liability coverage if someone gets hurt in your home, and helping with temporary housing if your rental becomes unlivable.

Whether it’s required by your landlord or not, renters insurance can offer peace of mind when the unexpected happens. Ultimately, the decision is personal. But for many renters, the affordability, flexibility, and coverage make it a worthwhile investment.

Disclaimers: Availability and eligibility requirements vary by state, policy type, policy terms, and underwriting company. Payment plans, electronic communications, additional endorsements, and credits are subject to availability and qualification. Please refer to your policy contract (including any endorsements) for your rights and duties as a policyholder.

Zillow Insurance Services, LLC (“ZIS”) is a licensed insurance producer in all 50 states and Washington D.C. ZIS is an affiliate of Zillow, Inc. and a member of the Zillow family of businesses.