🛡️ Renter’s Insurance vs. Liability Insurance: What’s the Difference?

Hey there, tenant friend! We get it—insurance terms can feel like a snooze-fest. But knowing the difference between renter’s insurance and liability insurance could seriously save your stuff (and your wallet). So let’s break it down—real talk style.

🎒 Renter’s Insurance = Protects *Your Stuff*

Think of renter’s insurance as a superhero for your personal belongings. If something unexpected happens—like a fire, theft, or burst pipe—it helps cover things like:

·   Your furniture

·   Clothes

·   Electronics

·   Even that fancy air fryer you never use



It can also include loss of use, which means it can help pay for a hotel if your place becomes unlivable for a bit. Pretty handy, right?

🚪 Liability Insurance = Covers *Damage You Might Cause*

Now, liability insurance is more like your “oops, my bad” coverage.
 
It helps if:

·   You accidentally start a kitchen fire (oops).

·   Your bathtub overflows and floods the downstairs unit (double oops).

·   Your dog bites someone (bad dog!).


This type of insurance helps cover damage to the property or injuries to others that you might be responsible for.

🤔 So, Do I Need Both?

Sometimes! At CRT Management, we require liability insurance for everyone—because it protects the home. But renter’s insurance is what protects YOU and your stuff.
 
If you don’t get your own renter’s insurance, we may charge you for a basic liability-only policy.


That won’t cover your things, it’s just to protect the property. Want peace of mind and full coverage? Get your own renter’s insurance policy.


📝 Bottom Line:

        ✅ Renter’s Insurance = Your Stuff

        ✅ Liability Insurance = Property Damage + Injury Protection

        ❌ Liability insurance alone won't replace your laptop or TV.


📌   CRT Liability Insurance Requirements

At CRT Management, we require all tenants to carry a minimum of $100,000 in liability insurance coverage. This is to protect the property from accidental damage caused by tenants, such as kitchen fires, water damage, or other incidents.

You have two options:

1.  Provide your own policy through a renter’s insurance provider. Just send us proof of coverage that includes CRT Management as an additional interest, all tenants on the lease agreement, policy effective and end dates.

2.  Be automatically enrolled in our liability-only policy for an additional monthly fee. This covers the property, but NOT your personal belongings.


We recommend choosing your own renter’s insurance policy, so you’re fully protected.