Individuals who do not own their own home may live in an apartment, condominium or house and pay rent to the owner of the dwelling. These individuals need protection for their personal property, loss of use, personal liability, and medical payments. Also, the tenant may have an interest in improvements that they had made to the rental unit.
Renter Policy Basics
This coverage section protects your general household belongings against loss by a broad range of perils. Items can include furniture, clothing, appliances and other personal possessions.
Loss of Use:
In the event you are required to leave your apartment as a result of a covered property loss, or if the building containing the property makes the apartment not fit to live in, we will cover you for many additional expenses which may include hotel or restaurant costs.
This is important coverage if you or resident family members are found negligent in causing bodily injury or property damage to another party. In that event, you have the peace of mind knowing we will pay the legal damages imposed on you and include legal defense costs if necessary.
If a visitor is injured in or around your home we will pay for the medical expenses incurred by that person.
Additions and Alterations:
Although as a tenant you do not have an insurable interest in the building in which you reside, you might add fixtures or make improvements to the apartment or home. These are “additions or alterations.” If a covered loss occurred you would be provided with an amount equal to 10% of your personal property coverage.