Renters insurance covers four major categories:
- Your personal property against loss, damage, or theft
- Increased living costs if a covered loss makes your rental unlivable and you need to find temporary lodging
- Personal liability coverage can help pay for things like property damage, bodily injury or medical bills if you’re found liable.
- Medical payments coverage pays the bill if a guest is injured at your home, regardless of who is at fault.
A summary of these items is below, but see your policy for exact details.
Coverage C - Personal Property. Personal Property coverage provides coverage for personal property owned or used by an insured while it is anywhere in the world. It covers damage, destruction or theft of your personal property. This includes damage from most natural disasters, including fire, hail, rain or windstorms. Please note that coverage for some categories of personal property may be limited, such as theft of jewelry, watches, and firearms.
Coverage D - Loss of Use. This coverage applies when a covered loss causes you to incur additional costs because you cannot use part of your home or need to live elsewhere while repairs are being completed. If your residence is damaged to the point where you need to find a temporary place to live, your landlord is not required to pay for those costs. Renters Insurance will cover that cost, including paying for a hotel or other temporary lodging while you look for a place to live while your rented home is being repaired.
Coverage E - Personal Liability. This coverage pays for legal fees if you’re sued for certain bodily injury or property damage. Coverage includes costs of defense and any award of damages or settlement, including prejudgment interest, up to the limit of liability.
Coverage F - Medical Payments to Others. This coverage pays for medical expenses up to the limit of liability, if someone gets injured on the property where you live. Expenses covered range from basic medical care to ambulance and emergency room costs, hospital stays, and more.
Availability and eligibility requirements vary by state, policy type, policy terms, and underwriting company. Additional endorsements and credits are subject to availability and qualification. The information provided above is offered as a general description and is not binding on the insurance carrier. Please refer to your policy contract (including any endorsements) for your rights and duties as a policyholder.
Renters insurance does not cover loss or damage caused by flooding.
Coverage is subject to policy terms, limitations, conditions, and exclusions. Descriptions of coverage are for informational purposes only and do not alter any insurance policy or guarantee any specific coverage. For a complete understanding of the coverage available, please review your renters insurance policy.