How Much Will Renters Insurance Cover?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    An insurance policy covers “up to the limits.”  If the policy provides for $100,000 of personal property coverage that merely establishes the maximum amount that the company will pay.  If the loss is less they will adjust the claim based upon the value of the property lost.  If the policy has replacement cost coverage the adjustment will be based upon the amount necessary to replace the damaged items.  In the event of a law suit, the limit of the policy is the maximum amount that the company will pay to defend you and pay any judgment against you for bodily injury or property damage.
    Answered on May 5, 2014
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