Here's how the rental insurance offered by your landlord leaves you exposed

SALT LAKE CITY — From fires and busted pipes to theft and other unexpected events, renters insurance helps cover what you own. That is, if you have it.

Many landlords in Utah require their tenants to have renters insurance. Often, they'll tell their tenants that they can buy their own insurance policy, or you can buy coverage through them.

Only after it's too late do some tenants learn the coverage they got through their apartment complex isn't renters insurance at all. It's really a waiver.

"In a renters insurance policy, there's a whole lot more," said Julia Taliesen, an economic analyst with online insurance broker Insurify.

Taliesen said the typical renters insurance policy covers personal property, liability in case someone gets injured in your apartment and temporary living expenses if some sort of unexpected event forces you out of your home.

"This is the coverage that will help make sure you're not having to pay any extra out of pocket if you need to get a hotel," she explained.

The coverage purchased from a landlord likely will not cover any of that. Forget your furniture, forget your clothes, forget your electronics and anything else you own.

Most plans from landlords, which are often called tenant liability waivers, just protect the landlord's building and their property. Your monthly payment for the waiver, however, means you're not financially responsible for damage you cause accidentally.

If you're considering a landlord's coverage, Taliesen said you've got to understand the policy before disaster strikes.

"Ask them point blank, 'What does this cover? Is this liability only? Does it cover my personal belongings, potential loss of use?'" she said. "Get a straight answer."

The average cost of renters insurance in Utah is $19 a month, said Insurify. While Utah doesn't require tenants to have renters insurance, landlords can require it. But they cannot demand that you buy a policy from a particular provider.

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