Renters Insurance in Nevada, California, Arizona & Oregon
Mountain Pacific Insurance Services is an independent insurance agency located in Nevada & California. We provide high-quality insurance solutions to our communities in California & Nevada and to residents in Arizona & Oregon.
Renters Insurance in Nevada
What is renters insurance?
Renting a home or apartment doesn’t come with all the risks of owning a home, but that’s not to say renters are free of all risks. From the loss of possessions to liability lawsuits, there are potentially costly risks that renters in Nevada generally should insure against. That’s what renters insurance is for.
Renters insurance helps protect tenants who are renting a property. Policies may both protect both possessions they own, and protect them against various potential liability suits.
Most Nevada residents who lease a residence should have a renters policy. This is an insurance that’s vastly under-utilized, yet is quite affordable for the vast majority of renters.
Some landlords might require it as part of their lease agreement, as a means of better shielding them from certain liability risks. A policy is generally recommended regardless of lease requirement, however.
Moreover, it’s not just tenants who lease their primary residence that get this coverage. A policy might be useful in many situations, such as:
Leasing a primary residence anywhere in the state
Leasing a secondary residence (e.g. ski chalet, lakefront property, etc.)
Leasing an apartment while temporarily working in the state
The exact coverage provided by renters policies may vary depending on the specific policy, but most policies include the following:
Personal Property Coverage: Might help to replace or repair your belongings, like furniture, electronics, sports gear and clothing, if they’re damaged or stolen.
Liability Coverage: Might help pay for legal expenses if someone is injured at your place and decides to sue. Coverage may extend to other personal liability lawsuits as well.
Additional Living Expenses Coverage: Might help pay for temporary accommodations and other associated expenses if your place is uninhabitable due to a covered event.
Renters liability insurance coverage is of particular importance almost regardless of how many possessions someone has or where they live. Almost anyone could be sued, and renters liability insurance tends to be the most affordable way for tenants to protect against common liability lawsuits.
Whether college students need their own renters policy depends on their living situation and the terms of their parent’s homeowners policy:
At Home: College students living at home are usually covered by their parent’s homeowners insurance policy, both for property loss and liability risk.
On Campus: College students living in on-campus housing are usually covered by their parent’s policy, but might not be in some situations. Whether their possessions are covered normally depends on whether their parent’s policy offers “worldwide coverage” for personal property coverage, or if it restricts personal property coverage to the home only. Liability coverage still applies in most cases.
Off Campus: College students living off campus are less likely to be covered by their parent’s policy, especially if the off-campus housing is their primary residence. These students often need a renters policy that provides personal property insurance and renters liability insurance.
An insurance agent who specializes in renters policies can help determine whether students should get their own renters policy.
Renters policy premiums tends to be quite low, with premiums usually costing very little each month. An independent insurance agent can help tenants compare custom quotes from several insurance companies, to see just how affordable a policy could be.
This material is for informational purposes only. All statements herein are subject to the provisions, exclusions and conditions of the applicable policy, state and federal laws. For an actual description of coverage, terms and conditions, please refer to the applicable insurance policy or check with your insurance professional. The illustrations, instructions and principles contained in the material are general in scope and, to the best of our knowledge, current at the time of publication.