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How much personal property coverage do I get with renters insurance?
I own some expensive camera equipment. I want to make sure my gear is covered by insurance when it’s stored at home. How much personal property coverage do I get with renters insurance?
Bonnie Stinson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Great question! Your renters policy covers personal property up to your policy limit—but there are some exclusions for electronics.
The first exclusion is based on rarity and cost. Most renters policies exclude very expensive and rare items. Your smartphone may be covered, for instance, but your Arri Alexa kit is probably not covered by a standard policy.
The second exclusion is based on personal vs. professional items. A renters policy is intended for everyday, personal items. If you use your camera gear for business purposes, it may not be covered by a renters policy (even if you store it in your rented apartment).
The third exclusion is a limitation aka the Electronics Limit of Liability. Some renters policies cap reimbursements for electronics up to a certain percentage of the entire policy limit. These items need to be reported in the initial insurance list. For example, let’s say your policy limit is $100,000. Your coverage for electronics may be limited to $1,500, or 1.%.
To make sure your gear is protected, read it closely—or call your agent—to understand your coverage for expensive electronics. Purchase an additional endorsement or separate coverage if your camera equipment is not covered.
If you have any questions about
renters insurance
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