Renters insurance is for people who rent or lease the properties they live in. It covers the loss or damage of the personal property you keep inside your home. It's a good idea to prepare a home inventory to ensure your coverage doesn't fall short if you need it know what you're protecting.

Things like theft, fire, vandalism, some types of water damage (such as from burst pipes), a windstorm, and so on. (These are what's known as 'named perils' in insurance speak.)

Here's some good news: renter's insurance and homeowners insurance cover your laptop, and everything else you own. So your laptop is covered for the 'perils' listed in your policy: that's insurance-speak for bad things that could happen, like vandalism, theft, and fire.

News Across the U.S. HO-4 insurance policies, or renters insurance, cover damages for personal belongings if they were damaged by wind, lightning, fire, theft or vandalism. Any damage sustained from flooding can't be covered under a regular renters insurance policy and must be covered by a flood insurance policy.

An insurance premium is the amount you pay each month (or each year) to keep your insurance policy active. Your premium amount is determined by many factors, including risk, coverage amount and more – depending on the type of insurance you have. This does not apply to all types of life insurance.

Life insurance policy benefits can be used to help pay for final expenses after you pass away. This may include funeral or cremation costs, medical bills not covered by health insurance, estate settlement costs and other unpaid obligations.

Do you rent your home or apartment? Renters insurance protects your belongings from loss, damage, or destruction following things like burglaries, fires, tornadoes and other covered events. Plus, renters insurance also protects your liability (and your money) if someone is injured at your rental home or apartment.

Statistics compiled by the Insurance Information Institute (III) show that wind and hail damage is the most common homeowners claim.

What does Allstate cover? Your laptop is covered for life's accidents, plus mechanical and electrical failures from normal use. Intentional damage, loss and theft are not covered.

Whether or not your renters insurance covers a broken TV depends on the cause of the damage. If your TV is stolen, or if it's damaged by fire or certain types of water events, it would likely be covered. If your TV simply stops working for no reason, or breaks due to simple wear and tear, it won't be covered.

Overall, State Farm consistently offers the best rates, averaging around $11 per month, which is about 15% cheaper than its peers. Lemonade's average rates are slightly higher - about $13 per month - but its industry-leading digital experience and quick claims process make it our top pick for cheap renters insurance.

The Cost of Renters Insurance in Florida According to data collected by Quadrant Information Services in 2023, renters insurance costs $156 per year or $13.75 per month on average in the state of Florida.

An insurance premium is the amount you pay to your insurer regularly to keep a policy in force. You may be able to pay premiums monthly, quarterly, every six months or annually, depending on your insurance company and your specific policy.

How to Calculate Insurance Premiums

1. Your age. Insurance companies look at your age because that can predict the likelihood that you'll need to use the insurance.
2. The type of coverage. In general, you have several options when you buy an insurance policy.
3. The amount of coverage.
4. Personal information.
5. Actuarial tables.

Benefits of Insurance Coverage

• Provides Protection. Insurance coverage does reduce the impact of loss that one bears in perilous situations.
• Provides Certainty. Insurance coverage provides a feeling of assurance to the policyholders.
• Risk Sharing.
• Value of Risk.
• Capital Generation.
• Economic Growth.
• Saving Habits.

Most experts agree that life, health, long-term disability, and auto insurance are the four types of insurance you must have.