Renter's Insurance

The question is, do I need Renter's Insurance? The answer is if you came home after work and you were greeted by your local fire department and your home was gone, what would you do? Do you have the resources to re-purchase all of your clothes, furniture and personal items? When I question our prospective clients and ask them how much would it cost to replace all the items in your home, most have no idea where to start.

If you have ever had a long distance move, do you remember how much it cost just to replace your pantry food items in your kitchen? You usually give them away so you don't have to pack them and pay for the shipping weight charge. Spices, flour, sugar, paper towels, cereal, food wrap, and other items that hang around in your kitchen that last for several months. You should expect to spend $400 or $500 just to restock your basic food supplies. Add to this cost, replacing your furniture, clothes, and linens, it will start to add up. Renter insurance is similar to homeowner's coverage except you are not covering the cost to rebuild the dwelling.

How Much does Renter's Insurance Cost?

Depending on where you live, the construction of your residence, the rating of your local fire department, your credit rating and the amount of coverage you need , it can cost from $10.00 to $22.00 per month for $20,000 of contents coverage, and $100,000 of liability coverage . When you wrap the coverage with your auto policy, you could receive additional discounts to lower the cost of your renters and auto policy.

So what does it cover?

Your Possessions

  • You choose the amount of coverage based on the property you own.
  • Personal property is covered anywhere in the world.
  • Coverage is on a named-peril basis, which means that only losses resulting from causes listed in the policy are covered (subject to exclusions).


  • Pays when you're legally liable for someone else's bodily injury or property damage resulting from an accident, negligent acts by you or household members (on or off premises). This also includes the acts of your pets.
  • Includes costs to resolve claims or defend lawsuits brought against you.

Medical Payments

  • Pays medical costs for people injured at your residence (other than residents of your household), regardless of liability.

Additional Living Expenses

  • Covers additional living expenses up to 24 months (depending on the policy type) if a covered loss makes your home unfit to live in.

Optional Coverage

Scheduled Personal Property

  • Scheduled and unscheduled coverage of important valuables are available for items like art, jewelry, collectibles and more.

Replacement Cost

  • Contents replacement cost is available to pay for the cost of repairing or replacing lost or damaged items without deducting for their depreciation.

Identity Shield

  • State-of-the-art assistance in the resolution of identity theft events, advocacy services relating to the prevention of identity theft and replacement of certain important documents.


Increase coverage for:

  • Jewelry
  • Guns,
  • Sports cards
  • Computers
  • Silverware
  • Waterbeds
  • Animal Collision
  • Additional Premises
  • Watercraft
  • Business Pursuits (On or Off) Premise
  • Fine Arts
  • Golf mobile Liability
  • Fur Floater
  • Leased Farm Land
  • Property of other Residence
  • Liability for owned vacant land

Renter's insurance provides protection for all the things you have worked hard for. If you are not convinced that you need renter's insurance, consider this. How many times have you watched the nightly news and seen a story that a neighbor in the apartment complex had a fire at 2AM on their apartment deck. The cause of the fire that displaced the residence of the complex, BBQ ashes placed in plastic bucket. Yes, this could happen to you and what would you do? It wasn't your fault, you've lost everything and the complex you live at advises you that they are not responsible for your losses . Renter's insurance is inexpensive when you consider what is at stake.

Call us today at 503-245-3345 or 888-821-4717 for a free quote.
Our professional staff at TW Morgan Insurance Services will design a renter's insurance program that protects your belongings and your family at an affordable rate.