Renters Insurance Is Different Than Homeowners Insurance In That at Car Insurance

Renters Insurance Is Different Than Homeowners Insurance In That. Given that the nationwide average cost of homeowners insurance is $1,445, you can expect the nationwide average for rental property insurance to be approximately $1,800. If you rent, your landlord is responsible for purchasing separate insurance to cover the building.

A Quick Guide To Renters Insurance - Aia Alera Group
A Quick Guide To Renters Insurance - Aia Alera Group from aia.aleragroup.com

Other key differences between homeowners and landlord policies include: Is homeowners insurance the same as renters insurance? Homeowners insurance provides coverage for insured for the premise and other structures on the land that premise occupies and the contents contained within them up to the policy limits and property designations within the policy while renters insurance provides coverage for the insured's personal property only not the premise itself.

A Quick Guide To Renters Insurance - Aia Alera Group

Renters insurance is different than homeowners insurance in that is a tool to reduce your risks. Another reason that homeowners insurance costs more is that it covers more square feet of property and the physical structure itself. Homeowners insurance covers the actual building you live in (and associated structures such as garages). Dwelling coverage is the key difference between homeowners and renters insurance: