Renters insurance is one of the cheapest ways to protect yourself when you rent an apartment, and it is easy to set up before move-in day. Here are the basics for renters in Memphis and across Tennessee.
What renters insurance usually covers
- Personal property: your furniture, electronics, clothes, and other belongings if they are damaged or stolen by a covered event.
- Personal liability: help if someone is hurt in your apartment or you accidentally damage someone else's property.
- Additional living expenses: help with temporary housing costs if a covered loss makes your apartment unlivable.
The building itself is covered by the owner's policy, not yours. Your policy is about your things and your liability.
What to check before you buy
- Replacement cost vs. actual cash value: replacement cost pays to replace items new; actual cash value subtracts depreciation.
- Deductible: a higher deductible lowers your premium but means paying more out of pocket on a claim.
- Flood: standard renters policies generally exclude flood; ask your agent about separate coverage.
- Pets: ask whether pet liability is included if you are moving with a dog.
How to set it up
- Make a quick home inventory with photos of your belongings.
- Get two or three quotes; many auto insurers offer a multi-policy discount.
- Ask the leasing office whether your lease requires a policy or specific liability limits, and how to show proof.
- Set the start date to your move-in day.
Moving to Bartlett Crossing?
Ask us about insurance requirements when you tour, and read our guide to applying at Bartlett Crossing. This post is general information, not insurance or legal advice.