Coverage guide · Renters
Renters insurance for less than you think.
Your landlord's policy covers the building and nothing you own. Renters coverage is the least expensive policy on the shelf, and it does more work than people expect.
This is an educational guide from RateShield, a technology company. We do not sell or place insurance. The coverage described here is quoted and placed by an independent, licensed brokerage in the RateShield trusted network.
What it covers
Personal property
Clothes, furniture, electronics, bikes. Everything you own, covered against fire, theft, and water damage from above, at home and away from it.
Liability
Protects you if a guest is injured in your place or you accidentally damage the building. Many Chicago landlords now require it in the lease.
Loss of use
Pays for a hotel or short-term rental if your apartment becomes unlivable after a covered loss.
Medical payments
Small medical bills for guests injured in your home, paid without a lawsuit.
Worth knowing
What a licensed producer watches for
Your landlord's policy covers zero of your stuff
If the building burns, the landlord's insurance rebuilds the building. Replacing everything you own is entirely on you unless you carry renters coverage.
It follows you out the door
A laptop stolen from your car or a phone taken while you travel is typically covered by the personal property in a renters policy.
It makes your auto cheaper
Pairing renters with your auto policy usually earns a multi-policy discount that offsets much of the renters premium. Sometimes the bundle costs less than the auto policy alone.
Common questions
Most leases ask for liability coverage with the landlord listed as interested party. Your producer sets that up and sends the proof to your landlord.
Usually not. Unrelated roommates typically each need their own policy. Ask us and we will sort out your exact situation.
Your producer sends proof of insurance once coverage is bound.
Related coverage
One call does it.
Sixty seconds to start. A licensed brokerage in the RateShield trusted network does the rest.