What Exactly Does Renters Insurance Cover?

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   Michael Chrobak

   Insurance Agent, Farmers Insurance, San Francisco Bay Area

   Renters insurance covers three primary areas.  First is Personal Property coverage.  This portion of the policy covers all of your personal belongings from the peril of loss, theft or damage anywhere in the world.  The loss does not have to occur at the location named in the policy for the loss to be covered.  Second is Personal Liability coverage.  This portion of the policy covers the insured in the event they are found personally liable for damage or injury to another person or their property.  Again, this coverage applies wherever the insured is, it does not have to occur at the property address listed on the policy document.  Finally, the policy covers for Loss of Use.  With this portion of the policy, the insured is covered in the event they are required to temporarily vacate their residence.  This coverage pays the increase in monthly living expense over what they typically pay each month for rent, up to the policy limits.  In addition, riders can be attached to the policy to cover higher value items, collectibles, firearms, jewelry, artwork and etc.

   Answered on March 11, 2014

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