Author: Ashley Schefer
Reviewed By: Kristi Bickmann

Renters insurance is necessary in assisted living facilities if a community requires residents to have it or you’re concerned with the safety of your personal belongings. Some assisted living facilities include a renters insurance requirement in their lease agreements. Even if a facility doesn’t require renters insurance, having it protects your personal belongings and well-being if an accident occurs. 

What does renters insurance cover in assisted living facilities?

Renters insurance covers any personal belongings you bring to assisted living, including furniture, electronics or clothing. Coverage extends to events including fire, smoke damage, theft, certain natural disasters and vandalism. It helps cover basic living expenses, including temporary housing or food if you’re unable to live in your assisted living community during renovations or repairs after structural damage. 

Some plans also provide medical payments if someone suffers injuries in your home or liability coverage if you cause bodily injury or property damage to another person. However, exact coverage depends on your specific plan. 

Benefits of having renters insurance in assisted living

Residents commonly bring personal items, including clothes, books, shoes, blankets and furniture, to assisted living. If a natural disaster or an accident occurs, many assisted living communities have insurance policies to cover structural damage but not resident belongings. This means paying hundreds or thousands of dollars to replace damaged or lost items.

However, one study shows the average cost of renters insurance in 2024 is $13 per month, which poses a significant savings to paying out of pocket. It also provides peace of mind if you need to leave your community and don’t have alternative living arrangements nearby. If you invite someone to stay in your apartment and they get injured, renters insurance provides coverage even if you aren’t involved or home when it happens. Ultimately, renters insurance serves as a financial safety net to protect your well-being and reduce stress during retirement.