Common Questions About Renters Insurance

Q. Is my bike covered by renters insurance?

A. Your bike and other recreational or sports equipment are covered. There are also special policies you can buy for very expensive sports equipment.

Q. Is my car covered?

A. Vehicles aren't covered by renters insurance. You need to get a separate auto insurance policy to drive legally and protect your car, van or motorcycle.

Q. Is my property covered away from home?

A. Yes, but the extent varies. Some companies extend coverage to your belongings anywhere in the world. Some limit it to 10 percent of the total policy value. Property stolen from a locked vehicle including the car trunk is also covered. Ask your insurance agent for details.

Q. As a student, am I covered by my parents' policy?

A. Yes, if you're a college student and part of your parents’ household. Their homeowners or renters insurance provides coverage in the dorm. If you live off campus, you’ll need your own renters policy. Policies can vary, so speak to your insurer about this.

Q. Can I purchase a renters policy with my roommate or domestic partner?

A. It depends. Regulations differ from state to state, and policies might also differ from company to company. Find out what regulations apply in your state. Some insurance companies allow unmarried couples who have been living together to obtain joint coverage, rather than two separate policies. But a domestic partner is usually not automatically insured like a husband or wife under the partner’s policy. He or she must be specifically named.

Q. What happens if something I have rented or borrowed is stolen?

A. Items that are "in your possession" are covered under a standard renter's policy, whether they are things that you’ve bought, received as gifts or rented.

Q. How do I file a claim?

A. As soon as you become aware of a loss, note the date, time of day and list of goods stolen or damaged. In case of a theft, call the police as soon as possible. Then, contact your insurance company or agent to report the loss and get the appropriate claims form. Written and documented reports of losses are especially important when theft is involved. You can always amend a claim, but it will take longer to settle. If you feel your insurer hasn’t given you satisfaction, your state insurance department or local consumer protection office can answer questions about making a complaint.