Renters insurance compensates you if your belongings are damaged or stolen. Insurance can be confusing. Our partners at ConsumerAffairs researched the best renters insurance in Las Vegas to explain how to get the best rates and coverage.
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Renters insurance is a good idea for anybody who values their belongings and isn’t a homeowner. Renters insurance protects you from financial hardship as a result of fire, theft, water damage or other covered events. People who benefit the most from renters insurance include:
Renters with valuable possessions
Renters in high-risk areas
Las Vegas is a bustling city with a large population and a high crime rate. Fires are relatively frequent in Las Vegas and can cause massive property damage. If someone steals your property or if a fire destroys your belongings, you might not receive a dime without renters insurance.
Some Las Vegas landlords may require you to purchase renters insurance, although it’s not part of the state’s landlord/tenant laws.
What does renters insurance cover in Las Vegas?
Renters insurance offers three main kinds of coverage:
Personal property coverage pays for your damaged or stolen possessions after covered events. There are two ways this can happen, depending on your policy. You can receive the actual cash value of your items or the replacement cost:
Actual cash value refers to the current worth of an item including depreciation. An older model will usually be worth less than a brand-new one, and the payout for an older item might not be enough to get a new one.
Replacement cost refers to the cost of replacing an item with a brand-new version. It doesn’t matter if the item was experiencing wear and tear before it was damaged, your renters insurance will give you enough to get another version.
Liability protection covers you if you’re found responsible when someone else has an accident in your home or their property is damaged by you.
Some policies also provide living expenses if a covered event forces you out of your home. These include hotel charges, increased food costs and other incidentals.
What does renters insurance cost in Las Vegas?
Renters insurance costs depend on your coverage. Factors include your:
Personal property coverage (cash value or replacement cost)
The national average is around $15 a month. To find your exact costs, get a quote from an insurance agent. Some insurers offer discounts for bundling policies or taking safety measures to protect against theft or fire.
Las Vegas renters can use Policygenius to receive customized renters insurance quotes. Its online calculator helps you figure out what coverage you need. You can even pay for your plan on Policygenius’s website. The service will explain how your policy works in a way that’s easy to understand, and customers like how helpful the company is.
EverQuote matches Las Vegas renters with quality insurance companies for free. Consumers start receiving quotes after filling out a short form on EverQuote’s website. Reviews mention that the entire process took less than 2 minutes from start to finish.
Our partners independently research and analyze the companies mentioned in our guides and work with subject matter experts to add valuable information that helps consumers make smart purchase decisions. Our partners will not include companies on these guides that do not meet specific quality standards. The compensation we receive from our partners may impact how and where companies appear on our site, including the order in which they appear.
Our partners independently research companies, and use editorial discretion to award companies with special recognition (i.e. Best Value) based on their staff’s judgement or subject matter expert’s judgement. Our partners do this to help you identify companies that will meet your specific buying needs, and do not receive compensation for these designations.