---
title: "Superpowers In Your Renters Insurance"
description: "Renters insurance gave me financial superpowers I didn't know about."
canonical: "https://www.coveragecat.com/blog/superpowers-in-your-renters-insurance"
last-updated: "2026-08-13"
---

# Superpowers In Your Renters Insurance

| Coverage part | What it can help protect |
| --- | --- |
| Personal property | Furniture, electronics, clothing, and belongings at home or sometimes away from home |
| Personal liability | Savings and future income if you are sued over a covered accident |
| Loss-of-use coverage | Temporary living costs if a covered loss makes the apartment unlivable |

| Everyday scenario | Policy feature that may respond |
| --- | --- |
| Apartment fire damages a neighbor's unit | Personal liability coverage |
| Someone steals property from a storage unit or car | Off-premises personal property coverage, if included |
| A guest or pet causes an injury outside the apartment | Personal liability coverage |

**I was floored the first time a landlord made me buy renters insurance.** On top of having to furnish my apartment and fees for just about everything, I also had to pay an insurance company? To protect my Ikea couch and the TV I bought on Craigslist? Reluctantly, I looked up insurance providers without understanding what I was buying and forked over my payment to the company with the lowest premium for the required coverage.

**I didn't realize then that my renters insurance contained financial superpowers I had no idea I was getting.**

## Renters Insurance Superpower #1

*It follows you wherever you go*

You might assume that renters insurance stays within the walls of your apartment, but it's much more powerful than that. For most policies, a percentage of your personal property coverage can be used in  **incidents that occur when you leave your home,**  say if you're on vacation or someone breaks into your car or storage unit.

**The personal liability coverage**  that comes with your renters insurance is even better. It doesn't just protect you if someone slips and falls in your apartment, but also if you or even a pet accidentally injures someone outside your home.

## Renters Insurance Superpower #2

*Personal liability coverage includes your savings and investments*

Personal liability coverage also contributes to the second superpower of renters insurance; it protects your savings and investments — not just your Ikea furniture.

Since I bought that first renters insurance policy, I've worked and saved for significant future events, like my first house, my retirement, and a few vacations in between. It's taken a lot of sacrifice and strategic financial planning and I'd hate to lose it all because of something outside my control. And that's where personal liability coverage shines.

For a low price (more on that later), I'm paying to protect my assets if someone decides to sue me because a grease fire in my apartment damaged their property or caused a personal injury. How?

Well, if someone wants to sue me for everything I'm worth, they could do that, or they could take a large payout from my insurance from that coverage. In many situations, that would be preferable to a long, expensive lawsuit, for everyone involved. If you're concerned about liability protection beyond what your renters policy provides, [umbrella insurance can work alongside renters and auto coverage](https://www.coveragecat.com/insurance-types/umbrella/umbrella-insurance-for-renters) to add another layer of security.

## Renters Insurance Superpower #3

*It's pretty cheap!*

The final superpower of your renters insurance is that it's actually pretty cheap. Compared to homeowner's insurance or car insurance,  **you pay a low price for the protection you get**. According to the National Association of Insurance Commissioners (NAIC), the average monthly cost for a renters policy was $15-30 in 2019, and you could get a discount if you pay the year in full. 

For about the same price as lunch at your favorite spot—or lunch for you and a friend, if you're at the higher end of that range—you're protecting yourself against many potential risks. So, even if you're renting your first apartment or on a strict budget, that renters insurance is likely worth that small additional cost. 

Now, when I purchase renters insurance, I'm much more careful. Sure, I've invested more into my furniture, electronics, and other items over the years, and it would be a big financial burden to replace those. Still, more importantly, I know I can get a good deal on coverage while protecting myself against big financial risk. 

**Want to maximize your own renters insurance superpowers?**  [Make sure you're getting the right price and coverage with Coverage Cat ](https://www.coveragecat.com/intake) (and not just on renters insurance, but homeowners, auto, and personal liability insurance as well). Finally, remember that even if you're currently insured, you can [cancel your insurance anytime](/blog/the-biggest-myth-in-insurance) if you find better coverage.