What Is Renter’s Insurance?
Renter’s insurance is property insurance that provides coverage for a policyholder’s belongings, liabilities,
and possibly living expenses in case of a loss event. It’s available to persons renting or subletting a single
family home, apartment, duplex, condo, studio, loft, or townhouse. The policy protects against losses to
the tenant’s personal property within the rented property. In addition, a renter’s insurance policy protects
against losses resulting from liability claims, such as injuries occurring on the premises that are not due to
a structural problem with the property (a trip and fall of a guest in your home resulting in an injury). In
addition, you get additional living expenses in the event your home is not habitable and you need to go to
a hotel for a few days or longer period based on your coverage limits requested.
In general, renter’s insurance offers three types of financial protection:
● Coverage for personal possessions
● Liability protection
● Additional Living Expenses (ALE) protection