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6 Ways Renters Insurance Can Protect You This Holiday Season

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By Susan Meyer Info icon
Updated December 5, 2024
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Susan Meyer

Senior Editorial Manager

Susan is a licensed insurance agent and has worked as a writer and editor for over 10 years across a number of industries. She has worked at The Zebr…

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  • Licensed Insurance Agent — Property and Casualty
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Beth Swanson

SEO Content Strategist

Beth joined The Zebra in 2022 as an Associate Content Strategist. She is a licensed insurance agent whose goal is to make insurance content easy to r…

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  • Licensed Insurance Agent — Property and Casualty
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  1. 1. Theft of holiday gifts
  2. 2. Damage from decorations
  3. 3. Accidental guest injuries
  4. 4. Travel coverage for stolen or damaged items
  5. 5. Weather-related damage
  6. 6. Identity theft protection
  7. Renters insurance holiday tips

The holiday season is a time for joy, celebration and togetherness. However, it can also be fraught with unique perils. For example, during the holidays, you may be:

  • Hosting many people for parties that involve alcohol and icy front steps.
  • Cooking a meal involving multiple dishes on the stove all at once
  • Potentially overloading circuits with lights in the name of festive decoration
  • Traveling to visit loved ones, leaving your home unprotected
  • Accumulating packages that attract roving porch pirates

In these circumstances and many others, renters' insurance is an essential safeguard that can prevent a holiday mishap from turning into a major financial hardship. Here are specific instances where renters insurance can come in handy during the holidays.

1. Theft of holiday gifts

The holiday season sees a significant spike in property crimes, including thefts from homes and cars. The increased prevalence of online shopping has significantly increased the number of packages stolen from porches. In fact, so-called porch pirates cost Americans $16 billion in 2023.[1] 

Renters insurance typically covers stolen items, whether they were in your home or car or even on your front stoop. Of course, for smaller items, the cost of recovery might not be worth filing a claim, depending on your deductible, but if you had a big screen TV stolen from your porch you'll be glad you had it. Renters insurance generally pays the actual cash value of stolen items, not the replacement cost. However, that shouldn't be an issue for gifts and other brand news items that haven't had a chance to depreciate. 

2. Damage from decorations

Holiday decorations like lights, trees, and inflatable yard ornaments can be fire hazards. An average of 260 home fires each year start with Christmas trees, and another 150 home fires per year are caused by decorative and holiday lights. In fact, home electrical distribution and lighting systems are the fourth leading cause of home fires.[2]

If your festive lights spark a fire that damages your belongings, renters insurance can help cover the cost of replacing or repairing items like furniture, electronics and clothing. Additionally, if a neighbor’s holiday decorations cause a fire that spreads to your unit, renters insurance can help cover the damage to your personal property. If your property is deemed unlivable due to the fire, renters insurance may also cover your living expenses elsewhere. 

3. Accidental guest injuries

When you're the hostess wtih the mostest this holiday season, you can also open yourself up to liability if someone is injured on your property. A guest could accidentally slip on your icy steps or trip over a stray decoration, and the chances increase as the number of festive beverages increases.

Renters insurance often includes liability coverage, which can help pay for medical bills or legal costs if someone gets injured in your home.

4. Travel coverage for stolen or damaged items

Many people travel during the holidays, whether to visit family or take a much-needed vacation. But your renters insurance only covers your home, right? Not so! Renters insurance can protect you when you travel as well. If you're traveling by car, it can protect the personal property stolen from your vehicle. (Note: if the vehicle itself is stolen, you will need your car insurance for that). 

However, renters insurance can also help if you travel by plane or train. If your belongings, like luggage, electronics or gifts, are stolen or damaged while you’re away, renters insurance may extend coverage to protect items outside your home. Check your policy details and coverage limits for details.

6. Identity theft protection

The holiday season often leads to more online spending, which an also open you up to online scams and identity theft. 

Some renters insurance policies offer optional identity theft coverage, usually as an endorsement to the policy. If your identity is stolen and your finances are compromised, this coverage can help cover the costs of restoring your accounts and credit. These policy endorsements typically carry the same protections and limits as their homeowners counterparts. 

Holiday tips for maximizing your renters insurance

Document your belongings

Take photos or videos of your gifts, decorations and valuables to make filing a claim easier.

Secure your home

Use locks, cameras and alarms to reduce the risk of theft.

Review your policy

Understand your coverage limits and deductibles, especially if you’ve purchased expensive gifts or decorations.

Add riders for high-value items

If you’ve bought pricey jewelry, electronics, or other valuables, consider adding an endorsement for additional protection.

Wrapping up

Renters insurance is a crucial layer of protection, especially during the holidays when risks of theft, accidents and damage increase. Understanding how your policy works and what it covers lets you enjoy the season’s festivities with greater peace of mind. Take the time to review your coverage today so you’re prepared for any less-than-joyful surprises the holiday season might bring.

Sources

  1. Beware of porch pirates. [NBC DFW]

  2. Holiday data and statistics. [Electrical Safety Foundation]

  3. Winter storms. [Insurance Information Institute]