Renters insurance is a common requirement for tenants moving into rental properties across Louisiana. Most property managers and landlords across the state include it in their lease agreements.
For many tenants, getting renters insurance might feel like just another item on the move-in checklist. But beyond meeting lease requirements, a renters insurance policy provides critical protection for your belongings.
Let’s take a closer look at what a typical policy covers.
What is Renters Insurance?
Renters insurance protects your belongings in your rented home or apartment in Louisiana. Your landlord’s insurance only covers the building itself.
Why Every Louisiana Tenant Needs Renters Insurance
Here’s what renters insurance does for you:
- Covers the cost to replace your belongings if they’re damaged or stolen.
- Helps with expenses if someone gets injured at your place.
- Pays for temporary housing if your rental becomes unlivable.
Take a look around your home – your TV, laptop, clothes, and furniture. Most renters own more than they realize. Having renters insurance helps protect these belongings.
Key Types of Coverage
Personal Property Coverage
Renters insurance protects personal belongings in your rental home. Your furniture, electronics, clothing, decorations, tools, power equipment, and appliances are covered under this protection.
Most policies include coverage for your belongings even when they’re away from home. However, some valuable items, like jewelry or collectibles may have special coverage limits.
Personal Liability Protection
Personal liability coverage provides protection if someone gets hurt in your rental or your actions cause damage to someone else’s property. This coverage helps renters avoid paying costly damages out of pocket.
Medical Coverage
Medical payment coverage kicks in if visitors get hurt in your rental. It helps cover their medical expenses, such as emergency room visits or required medical tests.
Loss of Use Coverage
Damage can make your rental unlivable. Loss of use coverage helps cover the extra costs during these times.
This includes temporary housing expenses, additional food costs if you can’t cook at home, and other necessary expenses until you can return to your rental.
What Renters Insurance Won’t Cover
Here are some common situations that a standard renters insurance policy doesn’t cover. Knowing this upfront can help you plan better and avoid surprises when it’s time to file a claim.
Regular Wear and Tear
Renters insurance doesn’t cover the normal aging or gradual wear of your belongings, including things like:
- Carpet that’s worn down from regular use
- Paint that fades over time
- Furniture that naturally shows signs of age
Building Structure and Repairs
Damage to the building itself is covered by your landlord’s insurance. Your renters insurance policy doesn’t cover:
- Repairs to walls or ceilings
- Broken windows
- Plumbing or electrical issues
- Building vandalism
Other People’s Property
A renters insurance policy only protects items belonging to people listed on the policy. If you have a roommate, they’ll need their own coverage for their belongings, even if you share the same rental.
Certain Types of Natural Disasters
Many Louisiana tenants don’t realize that standard renters insurance excludes some weather-related events:
- Flood Damage: Standard policies don’t cover flood damage to your belongings. In a flood-prone state like Louisiana, consider purchasing separate flood insurance to protect your personal items.
- Wind and Hail Damage: Some policies have limitations or exclusions for wind and hail damage. Check your policy details, especially if storms are frequent in your area.
How Much Coverage Do You Need?
Walk through your home with your phone and take photos of everything you own to create a personal property inventory.
Many Louisiana tenants are surprised by how much their belongings are worth when they add it all up.
Most landlords in Louisiana require tenants to carry at least $100,000 in liability coverage through their renters insurance, so be sure to check with your landlord to confirm their specific requirements.
Read more: Does My Home Insurance Cover Vacation Rental Properties?
Ready to Get Protected?
Getting renters insurance in Louisiana is simpler than you might think. Our team is here to help you understand your coverage options and find a plan that suits your needs.
We have offices in Lafayette, Baton Rouge, Franklin, Abbeville, and Lutcher. You can schedule an appointment at any location that’s most convenient for you.
You can give us a call or fill out the online form below. We look forward to helping you find the right coverage.
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