Will my Renters Insurance Policy Cover my Property Outside of my Home?

If you are shifting to a new apartment, you need to ensure that all your belongings will fit inside your house. If the space is insufficient, you may have to rent a storage unit to store things you hardly use before sorting out the space issue. 

Renters Insurance Policy Cover
Renters Insurance Policy Cover

In this case, many people would be worried about any property that is not inside the apartment. One of the most common questions regarding this situation is: Will my renter’s insurance policy cover my property outside of my home? Will I need additional coverage?

You will be glad to know that your renter’s insurance policy covers property theft outside your home, whether it’s stolen from the moving truck or a storage compartment. Worth mentioning is that a renter’s insurance will only cover losses defined risks.

Theft is a defined hazard in many renter’s insurance policies. However, you must confirm to ensure it’s a standard for coverage. If theft is specified in your renter’s insurance policy, it will cover losses incurred in your principal residence, traveling, or storage compartment. 

Will My Renter’s Insurance Offer the same Coverage for my Belongings Inside and Outside My Apartment?

Many renter’s insurance policies offer different coverage limits based on where you have kept your property. However, any property outside your home comes with lower coverage than property inside the primary apartment.

Many policies restrict coverage at a specific percentage of the coverage’s limit for different property types. For instance, assuming your property coverage limit is $20,000, 10% of the entire total would be $2,000. That would mark the coverage restriction for any property you lose outside your key primary residence.

The coverage percentage and your policy limits differ based on your policy. Always contact your independent insurance provider and hold discussions to determine what would be appropriate with your policy and property. 

How much Personal Property for I Require for my Renter’s Insurance Policy?

There is no right or wrong answer in this case. Everybody has varying amounts of property with different values. One of the core factors every person should consider is how much they will need to replace their belongings if it were lost or damaged. In this case, you will need to create a comprehensive list of your property and its overall value.

That strategy is one of the best and most precise methods of deciding the number of personal possessions that is ideal for you. Remember that coverage can be for the replacement cost coverage, meaning cover based on the current retail prices, or current market value of the property, considering depreciation. If you want excellent value for your situation, consider discussing it with your independent insurance provider. 

Will My Renter’s Insurance Policy Cover all my Belongings?

The renter’s insurance policy covers a significant percentage of your belongings, inside or outside your main house. However, there are some limitations. High-value possessions like premium arts, antiques, and jewelry are not included. It’s important to understand that there are coverage restrictions for each item. If your belongings surpass that limit, ask your insurance provider how to buy an additional policy for extra coverage. 


Before buying renters insurance, be sure to choose limits that will secure you in case of total loss. Doing so assures you that you will be compensated fully in case of fire, theft, or other dangers defined in your policy.