While renters insurance is not legally mandated, your landlord may require it to lease the house to you. Even if it's not a legal requirement, it's highly advisable to have renters insurance for a house. Here's why:
Renters Insurance
Do You Need Renters Insurance if You Own a House?
Updated: June 17, 2025
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Key Takeaways
You can get renters insurance even if you own your home, as long as you’re renting the land or part of the property.
Renters insurance protects your personal belongings and liability if you don’t have a full homeowners policy.
Renters insurance only applies when you rent your living space. If you fully own the home and land, homeowners insurance is the better fit.
Do You Need to Buy Renters Insurance for a House?
Protection for Your Belongings
Renters insurance covers your personal belongings, including furniture, electronics and clothing, against unforeseen events such as fire, theft or vandalism.
Liability Coverage
It provides liability protection in case someone is injured on your property, helping to cover medical expenses or legal fees if you're found responsible.
Additional Living Expenses
If your house becomes uninhabitable due to a covered event, renters insurance can assist with temporary living expenses while repairs are made.
You can also tailor your policy to suit your needs, ensuring you have the right level of coverage for your unique situation. Renters insurance is generally affordable, offering valuable protection for your belongings without breaking the bank.
Can You Get Renters Insurance for a House?
Yes, you can get renters insurance for a house. The type of unit, whether it's a house, apartment, condo or room, doesn't affect your ability to get coverage.
Renters insurance is designed to protect your personal belongings and liability no matter where you rent. It's a flexible policy that follows you even when you travel, providing peace of mind during unexpected events like fire, theft or certain kinds of water damage.
How to Get Renters Insurance for a House
Getting renters insurance for a house is simple. Start by listing what you own, then compare quotes from providers. Choose a policy that covers your belongings and liability, and make sure it fits your budget and living situation.
- 1
Take inventory of your belongings
List furniture, electronics, clothes, and valuables so you know how much coverage you need.
- 2
Get quotes from multiple providers
Compare prices and coverage options for the home you’re renting.
- 3
Choose your coverage limits and deductible
Pick a policy that fits the value of your items and your budget.
- 4
Add liability and loss of use coverage
These protect you if someone is injured or if the house becomes unlivable after a covered event.
- 5
Finalize your policy and request proof of coverage
Once you choose a provider, complete the process and keep a copy for your landlord if required.
How Much Does Renters Insurance Cost For A House?
On average, the cost of renters insurance for $20,000 in personal property coverage is $13 per month. The exact price can vary depending on several factors, including your location, the level of coverage you choose and your deductible.
This cost is a small price to pay for the valuable protection it provides for your belongings and liability coverage. You can compare renters insurance quotes from different providers to find cheap renters insurance and customize your policy to meet your specific needs and budget.
Personal Property Coverage Limit | Average Monthly Rate |
|---|---|
$20,000 | $13 |
$50,000 | $20 |
$100,000 | $31 |
Buying Renters Insurance for Homeowners: Bottom Line
You can purchase renters insurance even if you own a house, depending on how you occupy the property. If you're renting land, sharing a home or living in a structure you don't fully own, renters insurance can still apply.
It offers protection for your personal belongings, liability and temporary housing costs after a covered event. Renters insurance is available for houses, apartments, condos or even just a room.
No matter the type of unit, it helps reduce financial risk and protect what you own. In this article, we explained when renters insurance makes sense for homeowners, what it covers and how it compares to homeowners insurance based on your living situation.
Understanding Renters Insurance for Homeowners: FAQ
Purchasing renters insurance for any type of home you're renting is a smart choice and gives you financial security. Our answers to common questions clarify any confusion you may have about getting renters insurance for different types of dwellings.
Can you buy renters insurance for a house?
Yes, you can purchase renters insurance for a house or any other kind of rental unit, such as an apartment, condo or even a room.
Can you get renters insurance for a room within a house?
Yes, you can get renters insurance for a room within a house. Renters insurance is not restricted to specific types of rental units; it can be tailored to your needs, regardless of whether you're renting an entire house or just a single room within one.
Can you get renters insurance when you live at a friend’s house?
Yes, you can obtain renters insurance with roommates. Simply add them to the policy. Renters insurance is flexible; you can customize it to your unique living situation. It's not tied to property ownership, so whether you're renting a house, an apartment or residing at a friend’s house, renters insurance can still provide valuable coverage for your personal belongings and liability protection.
Do I need renters insurance if I own a mobile or manufactured home?
If you own the home but rent the land, renters insurance may be a better fit than homeowners insurance. It protects your belongings and liability, but not the structure itself.
Is renters insurance required if I rent out a part of my own home?
It depends on your situation. If you’re still living in the home and renting out a room, you may still want renters insurance for your own belongings and liability.
What’s the difference between renters insurance and homeowners insurance?
Renters insurance covers personal belongings and liability in a rented space. Homeowners insurance includes that plus coverage for the structure you own.
Best Renters Insurance for Homeowners: Our Review Methodology
Why Trust MoneyGeek? We obtained information from Quadrant Information Services and examined rates of customer and claim satisfaction from the top industry assessments, J.D. Power, AM Best and the National Association of Insurance Commissioners (NAIC). We developed a ranking methodology to compare the data in order to provide the best renters insurance solutions for different renter profiles and demands at the national and state levels.
Renters Insurance Profile
In this study, we focused on a particular profile of renters, characterized by:
- Good credit score
- Claims free for over five years
Our research also encompassed scenarios involving renters with varying credit histories and different records of insurance claims.
Renters Insurance Coverage Details
Calculations for the average renters insurance rates were based on the following policy specifics:
- $20,000 in personal property coverage
- $100,000 in personal liability coverage
- $1,000 deductible
Our investigation included an exploration of policies offering broader coverage ranges, extending from $20,000 to $100,000 for personal property, liability coverage ranging from $100,000 to $300,000 and deductibles varying between $500 and $2,000.
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About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.