What Are Renters and Condominium Insurance?

Last updated: March 29, 2016

Renters Insurance  

Of all types of insurance, renters insurance may be the most overlooked by consumers. Less than half of renters have renters insurance. Renters often assume their landlords have insurance. Landlords have it only for the building itself — not for the people who live in the building and their property.

As a renter, you have no coverage if your possessions are lost in a fire or burglary. You are also liable for bodily injury or property damage to others.

You can buy a renters policy to insure your household contents and personal belongings.

  • It protects you against the same perils covered by a broad form homeowners policy.

Condominium Insurance

Your condominium association should buy an insurance policy that covers all common property. You have a right to examine the association policy to see what protection is provided.

A condominium unit owner’s policy covers any items not insured by the association’s policy. This could be the unit owner’s contents, personal property, or any changes made by the unit owner.

Renters and condominium insurance are like homeowners insurance. The standard policies provide two major coverages: personal property and liability.

This article is published on KansasMoney.gov. Find more information by contacting these state agencies: