What Does State Farm Renters Insurance Cover

Note that the roof, siding, and structure of your house are covered by the landlord’s insurance, not by State Farm Insurance.

Instead, renters insurance safeguards both the policyholder and their possessions, whether or not they are present in the home at the time of a covered loss.

A typical State Farm renters insurance policy includes the following types of coverage:

• Personal property: Since your landlord has a policy to cover damage to the building itself, one major benefit to renters insurance is coverage for your personal property. State Farm pays up to $100,000 to fix or replace your belongings, such as electronics, furniture, and clothing, when lost or impaired due to a covered loss. Fire and smoke, vandalism, and theft are typically covered perils, meanwhile, natural disasters such as earthquakes are not.
• Loss of use: State Farm will cover additional living costs, such as food and lodging while you wait for repairs if a covered loss forces you to leave your home and renders it uninhabitable.
• Liability: Personal liability coverage is the other major component of a State Farm renters insurance policy. This protects you if you are responsible for the injury or loss of another person’s property. State Farm may pay your legal fees and medical expenses if you have liability coverage.
• Medical payments to others: If a guest is injured on your rental property, State Farm will cover medical expenses up to the policy limits. It also applies if you are found to be liable for injuring someone, whether at home or elsewhere.
  

Additional Coverage

A standard renters insurance policy may not cover all of your specific requirements. To customize your coverage, State Farm offers the following add-ons:

• Identity restoration: This coverage safeguards you against cyber attacks, identity theft, and fraud. It comes with a slew of perks, such as identity theft case management and expense reimbursement, credit monitoring, cyber attack data recovery, and more. It costs $25 per year and covers you, your spouse, and any dependents under the age of 21 who live in your household.
• Earthquake damage: Most standard renters insurance policies do not cover earthquake damage, and State Farm is no exception. State Farm, on the other hand, provides optional earthquake coverage as an alternative to relying on state-backed relief following a seismic tremor.
  
• Additional business property: Supplementing your renters insurance policy with additional business coverage allows you to tailor your coverage to your specific business requirements.
  
• Incidental business liability: This extra coverage differs from standard liability coverage in that it protects against claims alleging an act, error, or omission in providing professional services. Its cost is determined by the size and industry of your company.
  
• Personal liability umbrella: When you injure someone or damage their property, the liability coverage included in your standard policy may be insufficient. While no one anticipates being involved in a major insurance claim or lawsuit, additional liability coverage in the form of an umbrella policy can provide additional peace of mind.
  

State Farm Renters Insurance Cost