Does Renters Insurance Cover Electronics?

Q&A Renters: Does Renters Insurance Cover Electronics?

(Are your valuables protected?)

Table of Contents

Does renters insurance cover electronics?
Does coverage differ depending on where the electronics are located?
Are certain electronics excluded from coverage?
Can I purchase additional coverage for items that are excluded or not fully covered?

Does renters insurance cover electronics?

As a new renter, I’m curious about what all is covered under my insurance. While I'm concerned about all of my property, I'm more concerned with the more costly items like electronics. Are all electronics covered under my renters insurance policy or are there exclusions?

Renters insurance policies cover personal property up to the policy limit provided that the damage or destruction is due to a covered loss. The reason for this is that renters insurance functions on a named peril basis. 

This just means that the damage or destruction must be due to theft, fire, or any other kind of disaster explicitly stated in your policy. Electronics are generally included in the personal property coverage, so anything that happens to your televisions, computers, stereos, or other electronics will be covered.

Keep in mind that while electronics are typically considered personal property subject to renters insurance coverage, there are limits to this. I'll discuss each of those limits in greater detail below. 

However, if you have any questions about electronics coverage and renters insurance generally, your independent insurance agent can help.

Does coverage differ depending on where the electronics are located?

As is the case with all personal property covered under your renters insurance policy, coverage will vary depending on where the loss occurs. For example, electronics that are damaged or destroyed due to a named peril at your primary residence will be covered to the full policy limit, let's say $25,000. 

However, if your computer is stolen while you're traveling, or a television is stolen from a storage unit away from your primary residence, you won't benefit from as much coverage. 

The general rule of thumb is that you get 10% of your policy limit for items damaged or destroyed but not at your primary residence. In this example, you'd receive coverage up to $2,500 for a damaged or destroyed item.

Every policy differs, so it's important that you speak with your independent insurance agent about what kind of coverage you'll receive under your renters insurance policy options. 

Are certain electronics excluded from coverage?

There aren't typically policy exclusions for electronics, but each insurer is different. That being said, it's important that you discuss any potential issues regarding your personal property and the coverage you need with your independent insurance agent. 

The only type of exclusion that merits any attention without more information about your property are antiques. If you own any antique electronics you want covered, the high value of the item will warrant additional and separate policy coverage. 

Doing so will cost more, but it's also the only way to ensure you will have full replacement coverage should something happen to the antique. Your independent agent can help guide you through this additional coverage information too.

Can I purchase additional coverage for items that are excluded or not fully covered?

Yes you can. There are rider policies for losses that aren't covered or when you have a high-value item that won't be covered if something happens to it due to a named peril. 

The rider policies will differ in terms of coverage limits and pricing, so this is something you'll want to discuss with your independent insurance agent.

Share this page on Twitter Share this page on Facebook Share this page on LinkedIn