Your Guide to Las Vegas Renters Insurance

From downtown Fremont Street to iconic resorts along the Las Vegas Strip, Vegas is one of the most popular travel destinations in the United States, with around 40 million visitors in 2023.

But besides the many entertainment options, the city is a great place to live in, with beautiful nature and vibrant suburban communities. So, if you've decided to move to Vegas, it’s time to start looking for renters insurance.

A renters insurance policy will protect your personal belongings in case of a fire or theft and includes personal liability protection. Plus, Goodcover makes it easy to get renters insurance with a quote in just a few seconds.

Keep reading to discover:

• Is Renters Insurance Legally Required in Las Vegas?
• How Much Is Renters Insurance in Las Vegas?
• What Does Renters Insurance Cover in Las Vegas, NV?
• What Isn’t Covered by Renters Insurance in Las Vegas?
• What To Look for When Buying Renters Insurance in Las Vegas
• Top Las Vegas Renters Resources for Tenants

Is Renters Insurance Legally Required in Las Vegas?

Renters insurance isn’t legally required in Las Vegas. However, your landlord may ask for it. And if your lease requires it, well… that’s that.

Even if your landlord doesn't ask for the insurance, it's best to have coverage to protect your stuff in case the unexpected happens, like your property getting stolen. For example, there were nearly 24,000 burglary incidents in Las Vegas in 2023. With the proper precautions and insurance, you can be prepared with protection for your valuable belongings.

But it's not just about theft; renters insurance protects your property from other perils and includes personal liability coverage. 

Goodcover helps you satisfy your landlord’s requirements while getting good coverage for yourself.

How Much Is Renters Insurance in Las Vegas?

The average cost of renters insurance in the Silver State is about $13.17 per month ($158 per year). That's a bit cheaper than the national average of $15 per month ($180 per year). 

Goodcover's affordable renters insurance rates start from $9 per month ($108 per year) for Las Vegans, which is even more affordable, and the savings can fund fun outings like a visit to The Mob Museum or a tour of the Las Vegas Strip.

That said, your total insurance cost will largely depend on your coverage amounts and deductibles. The best way to get an exact number is to request a renters insurance quote from Goodcover, which you can get in about 90 seconds. 

What Does Renters Insurance Cover in Las Vegas, NV?

Goodcover’s renters insurance in Las Vegas offers three main types of coverage:

Personal Property Coverage 

This coverage protects personal belongings like jewelry, furniture, clothes, and even the replacement of important documents from covered losses, including fire, theft, vandalism, riots, and many kinds of water damage.

Liability Protection 

Liability protection covers you if you accidentally damage another person's property or you injure them. Your insurance can also step in to handle your lawyer's costs if you get sued, plus pay damages within coverage limits if you're found liable.

Guest medical payments also fall under liability coverage. For example, you may have a friend visit, and they accidentally trip on a loose rug in your living room, breaking their ankle. 

Insurance can cover their medical expenses, even if you weren't directly responsible. This can significantly lower your chances of getting sued. 

Temporary Housing (Loss of Use)

Renters insurance coverage can also help if a covered peril, like water or fire, damages your apartment and makes your home uninhabitable. Your renters policy can cover your additional living expenses, like hotel stays and added travel costs, while your rental property is being repaired.

What Isn’t Covered by Renters Insurance in Las Vegas?

There are exclusions to every insurance. For renters insurance in Las Vegas, it’s mostly about the environment. 

Las Vegas is a flood-prone area, with 7% of all properties in Vegas in danger of being severely affected by floods over the next 30 years. So, if you're moving to an area affected by floods, you may need additional insurance from the National Flood Insurance Program, as private insurance doesn’t usually handle floods.

Earthquake insurance is not included in your policy, and Nevada renters insurance doesn't cover nuclear hazards, wars, or government seizures. These events are too unpredictable to insure. It's like trying to plan for a meteor hitting your house — there's just no way to prepare for that.

Other scenarios renters insurance doesn't cover include:

• Intentional damage
• Asbestos issues
• Negligence
• Home-based businesses

All in all, there are seven exclusions on a Goodcover policy.

What To Look for When Buying Renters Insurance in Las Vegas 

When buying a renters insurance policy, it’s important to make sure it meets your needs. The insurance is there to protect you, and you need to ensure the policy covers the most likely risks.

For Las Vegas, that’s fires because of Nevada’s dry climate. Climate Check found that out of 256 areas in the city, 81 have a high chance of fire affecting more than a quarter of the buildings. And in 43 regions, it's even more risky — over half the buildings could be in danger.

If you ever face a fire, renters insurance can kick in to compensate you for personal property damage. Plus, if you have Goodcover, the policy can help cover temporary housing costs.

Be sure to look for insurance with additional coverage options for your high-value items like cameras and musical instruments. Goodcover offers extended coverage options under SUPERGOOD. Plus, our SUPERGOOD plan covers accidental damage, so you’re covered if you drop your camera into the sand while shooting the sunset.

Another thing to look for is replacement cost value (RCV) instead of actual cost value (ACV) coverage.

ACV compensates you based on what your item is worth now, factoring in its depreciation. For example, a couch you bought for $2,000 might only get you about $500 if it's a few years old. RCV, on the other hand, covers the total cost of buying a new couch, regardless of how old your item was. So, if that couch is destroyed in a fire, you'd get the full $2,000 to buy a new one.

Coverage outside your home is also another thing to consider. Make sure the plan you buy covers your stuff in your car, while shopping downtown, or while traveling. Goodcover covers your stuff anywhere around the world.

Before you get quotes, do a home inventory to help determine how much insurance you need. Getting at least three quotes and comparing features, not just price, is usually a good idea.

If you’re ready to switch from another insurance provider, just email your current policy to compare@goodcover.com. We'll analyze it to find the best Goodcover policy for you, plus help you cancel your old one.

You can also check out our Goodcover Auto rate comparison app to get the best rates from top auto insurance companies and bundle coverage with your renters insurance to save even more.

Top Las Vegas Renters Resources for Tenants

At Goodcover, we believe knowledge helps our Members make the best financial decisions possible.

With that in mind, we’ve compiled helpful resources for Las Vegas tenants below:

• Nevada Tenant Rights
• Tenant Laws and Protections
• Housing Assistance Resources
• Landlord Tenant Information

Goodcover offers you great value for your money with affordable and high-quality renters insurance in Las Vegas. Get a quote with your zip code and answer a few simple questions in seconds.

Note: This post is meant for informational purposes; insurance regulation and coverage specifics vary by location and person. Check your policy for exact coverage information.

For additional questions, reach out to us – we’re happy to help.