Does Renter’s Insurance Cover Items in a Furnished Place?

Well it can but…

Renter’s insurance is specialized insurance procured to replace items and goods that may be stolen or lost in a catastrophic event such as a fire or explosion. These items are not covered by the insurance policy of whomever owns the property that is being rented, so if you loose your valuable, autographed Magic Johnson basketball in a flood, fire or by theft without renter’s insurance, you are liable to replace it and the rest of your own goods.

Fundamentally, your renter’s insurance policy is there to protect your goods and personal property. If you are staying in someone else’s home or apartment that is furnished for you, the furnishings provided are not your goods or personal property - they belong to the property owner. You should check carefully your renter’s policy with the owner of the property, as they may stipulate that you carry a renter’s insurance policy specifically cover any damage to the furnishings on the property that are your fault. In this event, the owner may insist that you make a claim on your policy to recover the value of their items that were lost according to the rental agreement you signed.

This does not mean that if you are staying in a house or apartment that is furnished by someone else that you should not have a good renter’s insurance policy. No matter how little stuff you may think you have, you most likely still do have valuables that you would miss if they disappeared one day either by theft or accident. Protect yourself with a good policy, even if it only provides a minimal amount of coverage, and prepare for that coverage by taking inventory of your personal effects using photographs, a good list, and, if possible, receipts for your purchases, which will make filing a claim that much easier should the time ever come.