Tenant Insurance

Protect the things you love
In typical rental situations, your landlord’s insurance covers the physical structure of a building or dwelling, and you are responsible for anything you bring into the space, including furniture, electronics, clothing, jewelry, and other personal property. That means you need insurance, too. Sometimes Renter’s Insurance is a requirement in landlord-tenant lease agreements, but in any case, it’s a smart, proactive investment to protect the things you love.

For good reason, we don’t often think about what would happen if someone were to be injured in your home; in some circumstances, you may not be protected by the landlord’s insurance. Or what about any damages to the building? If you’re found responsible, you could be sued to recover the repair or rebuilding costs. And that’s again where Renter’s Insurance comes into play, to offer you the financial protection you need.

The common & not-so-common risks
There are some common risks to consider, like theft, fire, loss, and so much more. Since you can’t predict these situations, Renter’s Insurance is an affordable and simple way to protect the investment you’ve made in your personal property—and put your mind at ease. What you may not know is that this coverage is flexible; it applies to your belongings both while they’re in your home and when you’ve temporarily removed them to take with you for a weekend away or on a vacation. Also, if a covered loss were to make your home unlivable and you’re forced to leave, Renter’s Insurance covers the necessary, reasonable living expenses you incur—hotels, Airbnbs, food costs, etc.—until it’s possible to for you to move back into your home or you find a new place to live.

Although the risk is not as common, Renter’s Insurance can also provide you with financial protection if you were to be sued for injuring someone by accident or damaging someone else’s property. In these cases, Renter’s Insurance protects you if you’re named in a lawsuit, or if you’re found to be responsible for any unintentional bodily injury or damage to another’s property.

Your belongings
How much is my stuff worth? Likely more than you think! It’s a question that only you can answer by taking an inventory of your belongings to determine how much it would cost to replace it all. It can add up quickly. The great news is that we make it easy for you to customize your policy based on how much personal property you need covered, meaning you can opt for a lower amount of coverage while still maintaining the other benefits of Renter’s Insurance.

While your landlord will have their own insurance to cover the building itself, this unfortunately won’t cover any of your personal belongings.

The same goes for if you’re renting out a house or a room in a house, such as a basement suite. While the owner may well have home insurance to cover any loss or damage to their personal property, you’ll still want tenant insurance to cover any losses to your own personal belongings.

Unfortunately, there’s always a chance that unexpected circumstances could leave your items damaged beyond repair.

Thankfully, filing a claim is as simple as reaching out to your provider and giving them as much information as you can about the incident to ensure a seamless proceeds payout.
 
Since different companies have different policies, be sure to check with your provider or go over your policy to know exactly what to do when the worst case scenario happens.

You can cancel your tenant policy anytime, but there may be some costs if you cancel it before the end of the term. We’ll use the short rate cancellation table R7, which is included in your policy documents, to calculate refunds or outstanding balance. However, transaction fees cannot be refunded.

APOLLO accepts monthly payments (although you’ll get a discount with an annual policy). Get a free tenant insurance quote in less than a minute and pay immediately for instantaneous coverage. After that, we’ll charge you a day before your coverage renews.

Unfortunately, our tenant’s insurance product doesn’t cover rented spaces. For that you’ll need our Rented Condo Product.

Your roommates aren’t covered under your tenant insurance policy by default (they can get their own policy). However, the following people are covered:
Any spouses and children
Anyone under the age of 21 that’s in your care

Just like with home insurance, a deductible is required when making a claim on your tenant insurance policy. However, APOLLO allows you to adjust your monthly or annual payments to decrease the amount you’re required to pay.