Press Room

Have You Considered Renters Insurance?

Whether you live in an apartment, rental house, condo, co-op, dorm room or senior living complex, renters insurance is security you should consider. How much would it cost to replace your belongings in the case of an issue at your rental? Even a minimally furnished apartment – bed, furniture, clothing, kitchenware – can quickly add up to thousands of dollars to replace. Can you afford to replace them?
In the District of Columbia, renters insurance costs anywhere from $8 to $25 per month and can cover almost all personal property inside your dwelling as well as liability for medical or legal expenses if a visitor is injured. It can even cover temporary lodging if you can no longer live in your rental due to unforeseen property damage.
The administration of Mayor Muriel Bowser wants to make sure you are well-informed. As the commissioner of the DC Department of Insurance, Securities and Banking (DISB), I would like to share five tips for renters:

Tip #1: Talk to your insurance agent or company about the property you want to protect and the hazards you would like to be insured against. They will help you determine the amount and cost of coverage you may need.

Tip #2: Ask your agent or insurer about premium discounts. Many insurers may reduce your premium if you have fire or burglar alarms, fire extinguishers, sprinkler systems and/or deadbolts on exterior doors.

Tip #3: Ask your agent or insurer about loss of use or extra living expense coverage. You should determine whether you have sufficient limits of coverage. This coverage will help pay additional living expenses if there is damage to the building you are renting and you must live elsewhere during repairs.

Tip #4: Keep an open dialogue with your agent or insurer about additional or new coverage endorsements. You should understand how your coverage works, which losses are covered and which are not. Typically, natural disasters are not covered by a renters insurance policy. If you believe you may be subject to these risks, consult your insurance agent or company about possible coverage options.

Tip #5: Finally, it is important to maintain a home inventory checklist or worksheet. Your home inventory can include pictures of your property, documentation of purchases, proof of ownership and identifying information such as serial/model numbers or descriptions of your property. This makes it easier to file an accurate and detailed insurance claim in case your possessions are damaged or destroyed. Visit naic.org to download a free home inventory checklist.

NOTE:  Students who live on a school’s campus may be covered under their parents’ homeowners insurance, but college students living off-campus should obtain their own renters insurance policy.  

In the District, approximately four out of 10 residents live in rental properties but only 44 percent of these renters have renters insurance. For more insurance-related information or to take advantage of DISB programs and resources, call DISB at 202-727-8000, visit disb.dc.gov and follow us on Twitter and Facebook.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Back to top button

My News Matters to me - Washington Informer Donations

Be a Part of The Washington Informer Legacy

A donation of your choice empowers our journalists to continue the work to better inform, educate and empower you through technology and resources that you use.

Click Here Today to Support Black Press and be a part of the Legacy!

Subscribe today for free and be the first to have news and information delivered directly to your inbox.

Select list(s) to subscribe to


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Adblock Detected

Please consider supporting us by disabling your ad blocker