Renters Insurance Assessment

1. A fire damages your apartment building. Whose insurance pays for your own furniture?
- A) The landlord's policy
- B) Your renters insurance
- C) The fire department
- D) Nobody's
Practice: you’ve seen the answer to both versions of this question, so it won’t change your Insurance IQ.
Explanation: Triple-I says the landlord's policy won't replace your personal possessions. Your renters policy covers your belongings.
Review: What Does Renters Insurance Cover? Belongings, Liability and Living Costs
1. Which is generally not covered by a standard renters policy?
- A) Theft
- B) Fire
- C) Flood
- D) Vandalism
Practice: you’ve seen the answer to both versions of this question, so it won’t change your Insurance IQ.
Explanation: Floods and earthquakes aren't covered by standard renters policies; separate coverage is available.
Review: What Does Renters Insurance Cover? Belongings, Liability and Living Costs
2. What's the easiest way to set your personal property limit?
- A) Use your rent amount
- B) Make a home inventory of what you own
- C) Pick the cheapest option
- D) Ask your landlord
Practice: you’ve seen the answer to both versions of this question, so it won’t change your Insurance IQ.
Explanation: Triple-I says the easiest way is to create a home inventory with estimated values.
Review: How Much Renters Insurance Do You Need?
2. About how much more does replacement cost coverage generally cost than actual cash value, according to Triple-I?
- A) About 10% more
- B) About double
- C) The same
- D) Five times more
Practice: you’ve seen the answer to both versions of this question, so it won’t change your Insurance IQ.
Explanation: Triple-I says replacement cost is about 10 percent more than actual cash value, and can be well worth it.
Review: How Much Renters Insurance Do You Need?
3. Does your unrelated roommate's renters policy usually cover your belongings?
- A) Yes, automatically
- B) Usually not, unless you're specifically named
- C) Only half of them
- D) Only electronics
Practice: you’ve seen the answer to both versions of this question, so it won’t change your Insurance IQ.
Explanation: Renters policies generally cover the named insured and resident family. Others usually must be specifically named.
Review: Roommates and Renters Insurance: Do You Each Need a Policy?
3. Under many renters policies, how is an unmarried partner treated?
- A) Automatically insured like a spouse
- B) Usually must be specifically named
- C) Never insurable
- D) Insured only for liability
Practice: you’ve seen the answer to both versions of this question, so it won’t change your Insurance IQ.
Explanation: Triple-I says a domestic partner is usually not automatically insured like a spouse and must be specifically named.
Review: Roommates and Renters Insurance: Do You Each Need a Policy?
4. Water from an upstairs neighbor's overflowing bathtub ruins your couch. Is this generally covered by renters insurance?
- A) Generally yes
- B) No, water is excluded
- C) Only with flood insurance
- D) Only the landlord pays
Practice: you’ve seen the answer to both versions of this question, so it won’t change your Insurance IQ.
Explanation: Triple-I lists this kind of sudden water damage among what renters insurance covers. Flood is different and needs separate coverage.
Review: Does Renters Insurance Cover Water Damage?
4. Where can renters get flood coverage for their belongings?
- A) The National Flood Insurance Program and some private insurers
- B) The landlord's policy
- C) Auto insurance
- D) It isn't available to renters
Practice: you’ve seen the answer to both versions of this question, so it won’t change your Insurance IQ.
Explanation: Triple-I says flood coverage is available from the NFIP and a few private insurers.
Review: Does Renters Insurance Cover Water Damage?
5. A covered fire makes your rental unlivable. What does additional living expenses coverage generally pay?
- A) The extra costs of living elsewhere, within limits
- B) Your normal rent forever
- C) The landlord's repairs
- D) Nothing
Practice: you’ve seen the answer to both versions of this question, so it won’t change your Insurance IQ.
Explanation: It pays the difference between your additional and normal living expenses, such as a hotel and meals out, within limits.
Review: If Your Rental Becomes Unlivable, Does Renters Insurance Pay for a Hotel?
5. A guest trips in your apartment and needs stitches. Which part of a renters policy can pay their bill without a lawsuit?
- A) Medical payments to others
- B) Personal property
- C) Additional living expenses
- D) Off-premises coverage
Practice: you’ve seen the answer to both versions of this question, so it won’t change your Insurance IQ.
Explanation: No-fault medical payments coverage, generally $1,000 to $5,000, pays a guest's medical bills directly.
Review: If Your Rental Becomes Unlivable, Does Renters Insurance Pay for a Hotel?
6. After a burglary at your rental, what should you do first?
- A) Report it to the police and get a report
- B) Throw out damaged items
- C) Wait a month
- D) Move out
Practice: you’ve seen the answer to both versions of this question, so it won’t change your Insurance IQ.
Explanation: Triple-I says to report it to the police, get a report, and call your insurer immediately.
Review: Your Apartment Was Burglarized: How to File a Renters Insurance Claim
6. Raising your renters deductible from $500 to $1,000 may lower your premium by up to how much, according to Triple-I?
- A) 5%
- B) 25%
- C) 75%
- D) Nothing
Practice: you’ve seen the answer to both versions of this question, so it won’t change your Insurance IQ.
Explanation: Triple-I says you may get as much as 25 percent off your premium.
Review: Your Apartment Was Burglarized: How to File a Renters Insurance Claim

Educational only: this assessment measures what the course teaches. It says nothing about whether your own insurance is adequate, and it isn’t a professional evaluation of your policy.

Renters Insurance: Final Assessment

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