Agent, Rural Mutual Insurance Co., Union Grove, WI
Renters insurance is very similar to home owners insurance in its coverage. It provides coverage for your personal property up to the limits of the policy for the peril covered ( i.e. fire, explosion, etc.). It also provides liability coverage for accidents that you are deemed responsible for on your residence and other locations as specified within the policy. Typically they will also provide some loss of use, which will get you money to pay rent at another residence after a complete loss. Every policy is different so be certain to read it completely to know what is or is not covered or contact your local agent to have them go over the policy with you.
Renters insurance covers your personal belongings for fire, lightening, wind, hail and other named perils within your policy. It usually will cove theft and vandalism as well. It also covers you for liability if someone is injured in or coming to or from your apartment as a result of your negligence.
Owner, Dennis Harvey Agency: Farmers Insurance, Dallas, TX
There are several parts to a general Renters' policy:
1. Personal Property: This coverage will cover your personal belongings that are destroyed in a covered event. Each policy is different but the general events are theft, fire, smoke, water damage, wind, hail, and tornadic. You can either choose to cover your personal belongings at Actual Cash Value (depreciated value) or Replacement Cost. Some companies require a minimum amount of coverage to qualify for Replacement Cost.
2. Personal Liability: Gives you andd your family 24/7 coverage against claims caused by almost any unintentional act. Medical costs for persons injured on your premises, who do not reside within your household. The liability coverage generally covers you whether on or off the premises. Be sure to check with your insurance carrier to verify. This coverage also covers the acts of your pets as long as you list the pets on the policy.
3. Additional Living Expenses: If you can't live in your home after a covered loss, most carriers provide this coverage to cover the additional costs of living, meals, nhotels,etc.
You have the option to add other coverages such as Jewelry Floaters, etc. for an additional premium.
Chief Executive Officer, Coastal Homeowners Insurance Solutions, Rocky Point, NY 11778
Renters insurance covers your personal property (stuff) and personal liability (if someone sues you). You should make sure that you pick the coverage amount for Personal Property that will replace all the items in your possession including; clothing, beds, furniture, electronics, eatery etc. Keep in mind that expensive items like jewelry, furs, fine arts, silverware, money & securities will all have limits unless scheduled on the policy with an appraisal. A renters policy is a great value for the amount of premium paid. Unfortunately many renters go without it unless required by the landlord.
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1. Personal Property: This coverage will cover your personal belongings that are destroyed in a covered event. Each policy is different but the general events are theft, fire, smoke, water damage, wind, hail, and tornadic. You can either choose to cover your personal belongings at Actual Cash Value (depreciated value) or Replacement Cost. Some companies require a minimum amount of coverage to qualify for Replacement Cost.
2. Personal Liability: Gives you andd your family 24/7 coverage against claims caused by almost any unintentional act. Medical costs for persons injured on your premises, who do not reside within your household. The liability coverage generally covers you whether on or off the premises. Be sure to check with your insurance carrier to verify. This coverage also covers the acts of your pets as long as you list the pets on the policy.
3. Additional Living Expenses: If you can't live in your home after a covered loss, most carriers provide this coverage to cover the additional costs of living, meals, nhotels,etc.
You have the option to add other coverages such as Jewelry Floaters, etc. for an additional premium.