Renters Personal Property Coverage
Renters insurance can provide protection for your furniture and personal possessions — at home or away from home — against losses such as fire, lightning, windstorms, hail, explosions, smoke and vandalism. A renters policy can also protect your property against many types of theft loss in your apartment or anywhere in the world.
Renters Personal Liability Protection
In the event that a claim is made against you or you are sued, your renters personal liability coverage can help to cover the associated legal costs and related damages. Most renters policies provide $100,000 (minimum) of financial protection for covered accidental bodily injury or property damage to others. Higher amounts of coverage are available.
Medical Payments Coverage
Liability coverage generally can pay regardless of your legal responsibility when a covered accident on your property involves bodily injury to others. It also can provide coverage in other situations as well.
Additional Living Expenses
If you are forced out of your apartment by a covered loss, loss of use coverage can provide up to a percentage of the personal property coverage (also referred to as Coverage C) for necessary additional living expenses (such as hotel, meals, laundry, etc.) while your damaged apartment is being repaired. This is subject to coverage terms and limits. Higher amounts of coverage are available.
Renters may spend considerable time and money on alterations or improving their rental unit. Under a renters policy, you may apply up to 10% of your personal property coverage to repair or replace improvements made by you or acquired at your expense if damaged by a covered loss. Higher amounts of coverage are available.
Contents Replacement Cost
Personal property replacement cost loss settlement provides for settlement of covered personal property losses based on replacement cost at the time of loss, with no deduction for depreciation. The coverage is subject to applicable policy limits and deductibles and special limits apply to certain items such as jewelry, watches and furs.
Flood insurance for renters contents is recommended for units on the lower levels.
Please contact us if you have any questions about renters insurance. We offer many insurance carriers.
Suzanne Brown Insurance Agency
A Texas Independent Insurance Agency with over 100 insurance carriers