Updated: June 23, 2025
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At an average cost of $13 per month, renters insurance offers affordable protection for stolen belongings — but only if your coverage limits are set correctly.
Renters insurance covers theft of personal items from your car, like tools or electronics, but not the car itself or any damage caused during the break-in.
Valuables like jewelry, fine art or high-end bikes may exceed standard coverage and require scheduled personal property endorsements.
Renters insurance typically covers theft of personal belongings from your home, car or while you're traveling. This protection falls under personal property coverage, which reimburses you for the value of stolen items, up to your policy limits. Most standard renters insurance policies cover:
Items stolen from inside your apartment or rental unit
Belongings stolen from your car, like tools, bags or electronics
Theft during travel, such as stolen luggage or a missing laptop in a hotel
Packages stolen from your doorstep or mailbox
Bike theft, although coverage may be limited for high-end models
Items taken during a move
Stolen cash, but usually only up to $200 or $250
Theft by roommates, but only if they're not related to you or listed on your policy
Keep in mind that coverage limits apply, especially for high-value items like jewelry, fine art, collectibles or designer goods. These often require scheduled personal property endorsements to be fully protected. Before filing a theft claim, review your policy’s coverage limits, deductible and exclusions.
If you own valuables that exceed your current protection, consider increasing your coverage or adding specific riders. The best renters insurance provides enough coverage for the items you treasure at an affordable rate.
There are instances where your renters insurance will not cover theft. For example, if the company can prove you conspired with someone to steal a possession so you could file a fraudulent claim.
Other circumstances where you might not be covered by renters insurance include:
Many insurance companies, like American Family, Allstate and eRenterPlan, offer renters insurance. If you’re not sure which policy will work for you, MoneyGeek can help you compare renters insurance quotes.
The average cost of renters insurance is $13 per month, but that varies depending on your location, coverage amount and the value of property you own. If you need to determine how much coverage you need, use MoneyGeek’s personal property calculator below.
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
Clothes, shoes, bags, belts, hats, gloves, etc.
Financial protection from renters insurance is a great investment, especially when it comes to your personal belongings. Taking measures to protect yourself from theft is also important.
Keep a list of all your belongings with the purchase date, price, serial numbers and place of purchase. Store the list in a safe place.
Keep your money, wallets, gadgets and laptops in your home rather than in your car.
Install new deadbolts and door locks when you move into a new apartment.
Refrain from sharing personal information, such as your address or when you’ll be out of town, on your social media profiles.
Use the parking spaces in your apartment building, or park your vehicle in a well-lit area with good foot traffic.
Renters insurance typically provides coverage for stolen personal belongings from your home, vehicle or during trips. However, coverage limits often apply to expensive items, and theft from negligence or involving roommates might not be included. Make sure to understand your policy’s terms, especially if you own high-value items that may need additional coverage.
Renters often have questions about what theft-related losses are covered and what to expect when filing a claim. These answers clarify common concerns and help you understand how renters insurance applies in real-world scenarios.
Yes, most renters insurance policies cover theft even when you’re away from home, such as stolen luggage during travel or a laptop taken from a hotel room. This is known as off-premises coverage and is usually included under personal property protection. However, policy limits still apply.
Stolen packages from your doorstep or mailbox are often covered under personal property coverage. To file a claim, you’ll usually need proof of shipment and a police report. Some insurers may have specific exclusions or limits, so check your policy details.
Yes, renters insurance can cover personal items stolen from your car, like electronics, bags or tools. However, it won’t pay for any damage to the vehicle itself — that would fall under your auto insurance policy.
Renters insurance won’t cover theft if it results from negligence, like leaving a door or window open. It also excludes theft by someone living with you (like a roommate) unless specifically covered. Lost or misplaced items are not considered theft and usually aren’t covered.
Yes, if you own high-value items like fine jewelry, art or collectibles, your base policy may not fully cover them. Insurers often cap how much they’ll pay for these items unless you add scheduled personal property coverage to your policy.
Start by documenting what was stolen, filing a police report and contacting your insurance company. You may need to provide proof of ownership or value, such as receipts or photos. The insurer will review your claim and apply any deductible before issuing reimbursement.
To evaluate theft coverage in renters insurance, MoneyGeek relied on data from Quadrant Information Services, as well as industry benchmarks from J.D. Power, AM Best, and the National Association of Insurance Commissioners (NAIC). We reviewed how major insurers address theft claims, coverage limits and exclusions by analyzing publicly available policy documents and user-facing insurance offerings.
MoneyGeek’s renters insurance rankings are based on a weighted scoring system that evaluates insurers on four key metrics: affordability, customer satisfaction, financial stability, and coverage flexibility. We place special emphasis on how well policies handle personal property protection, particularly in theft-related scenarios.
To estimate costs and compare policies, we used a standardized renter profile with the following characteristics:
Coverage levels used in our analysis:
We also examined quotes for renters needing higher coverage amounts to account for valuables like jewelry, electronics or bikes, which are often affected by theft coverage limits.
As policy language and exclusions may vary, we recommend reviewing your individual policy or contacting your insurer to understand exactly what theft-related losses are covered.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
