Renters insurance covers your laptop, phone, TV and other electronics against covered events like theft, fire and water damage from a burst pipe, at home and usually away from home. It generally doesn’t cover drops, spills, cracked screens or breakdowns.
What’s usually covered
- Laptop stolen from your apartment, a coffee shop or your car. Theft from a car explained.
- Electronics destroyed or damaged by fire or smoke. Fire coverage explained.
- A TV ruined when the pipe above bursts
- Damage from a lightning strike
What’s usually not covered
| What happened | Why | Alternative |
|---|---|---|
| You dropped your phone | Accidental damage isn’t a named peril | Device protection plan or phone insurance |
| You spilled coffee on your laptop | Accidental damage | Manufacturer or retailer protection plan |
| It stopped working | Mechanical breakdown and wear aren’t covered | Warranty |
| Your work laptop was stolen | It belongs to your employer | Your employer’s insurance |
Some insurers sell broader “open perils” coverage that can include accidental damage. Named vs. open perils.
Power surges
Coverage for power surges varies. A surge caused by lightning is generally covered. For surges from other causes, some policies exclude damage to electronic circuitry. Check your policy, and use surge protectors for expensive equipment.
Will a claim be worth it?
Electronics lose value fast. With actual cash value coverage, a three-year-old laptop may pay out very little after the deductible. Replacement cost coverage pays what a comparable new device costs. The difference.
Protect your claim in advance
- Record serial numbers and keep receipts or order emails.
- Photograph your devices for your home inventory.
- If you use equipment for a side business, ask about business property limits.
New to this? Start with What is renters insurance?
This site offers general information, not insurance or legal advice. Coverage, prices and rules vary by insurer, policy and state, so always read your own policy and ask your insurer or agent about your situation.