Difference Between Renters and Home Insurance

Both renters insurance and homeowners insurance provide financial protection for policyholders against property damage, medical payments to others injured on the property, and legal liability costs. However, there are several significant differences between these two types of insurance that you should know about:

  • Home insurance includes dwelling coverage, and renters insurance does not. This fact makes renters insurance a cheaper form of home insurance for renters. 
  • Homeowners insurance covers more property, which makes it more expensive than renters insurance. Moreover, property covered by homeowners insurance is of higher value and is more vulnerable to perils. 
  • Home insurance covers the structure of a home, while renters insurance does not.
  • When you rent an apartment or house, you are not its owner. Therefore, it is not your responsibility to insure your dwelling. Instead, your focus is on protecting personal belongings and covering the liability in case a visitor or guest is injured on your property.
  • Homeowner’s insurance does not cover renters and their personal belongings – it only covers the building itself and the personal property of the landlord. 

HighPointe Insurance Services LLC in Overland Park KS – an Insurance Company That You Can Trust

Both renters and homeowners insurance are similar in the sense that they provide protection against property damage, legal liability, etc. However, there are also certain differences you should know about when you are deciding on the type of insurance you should get for your dwelling or the property you own. If you have any questions about these types of insurance and you need some help, do not hesitate to contact HighPointe Insurance Services LLC serving Overland Park, KS, and other surrounding towns. Our professional and experienced insurance agents are ready to answer all your questions and help you find the coverage you need.