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Renters Insurance

If you rent an apartment or house, you need renters insurance. While your landlord is responsible for obtaining insurance for the building itself, that insurance does not cover your furniture, appliances or any other belongings. Nor does it provide you with protection against personal liability.

The coverage provided by a renters insurance policy is usually divided into separate categories based on the nature of the protection provided. A typical renters insurance policy has four categories of coverage:

  1. Personal Property
  2. Liability
  3. Additional Living Expenses
  4. Loss of Use.

Each of the above categories is described below:

Personal Property

Personal property coverage provides protection for your furniture, appliances and other possessions. Most policies also limit the amount payable for certain high-value items such as jewelry, cameras or artwork. If you have individual items that are worth more than the standard policy limit you should request an endorsement to obtain complete coverage for those items. You can normally add items to your policy at any time by contacting your insurance agent.


Liability coverage pays for the medical treatment of guests injured in your home and gives you protection against legal claims arising from accidents or injuries that occur in your home.

Additional Living Expenses

If you are temporarily unable to inhabit your apartment or house due to damage, additional living expenses coverage helps pay for your living expenses, such hotel and restaurant bills, until the damage is repaired.

Loss of Use

If you normally receive income from your home, for example, by renting out a room to someone else, loss of use coverage provides you with compensation if your home is damaged and cannot be used to earn that income.

Some insurance companies also offer coverage for additional exposures and costs, such as loss assessment charges related to the damage or loss of your possessions, and may even offer identity theft protection.

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