What Does Rental Insurance Cover?
Rental insurance, often known as tenant insurance, is designed to protect renters from various risks. Here’s a breakdown of what it typically covers:
- Personal Property: Covers personal belongings such as furniture, electronics, clothing, and appliances in case of theft, fire, or water damage.
- Liability Protection: Offers coverage if someone is injured in your rental property or if you accidentally damage someone else's property, potentially covering legal fees and medical costs.
- Loss of Use: Provides compensation for additional living expenses if your rental becomes uninhabitable due to a covered peril, such as a fire or flood.
- Medical Payments: Covers medical expenses for guests injured on your property, regardless of fault, up to a certain limit.
- Additional Coverage: Some policies allow you to add riders for items like expensive jewelry, artwork, or electronics, offering more specific coverage.
It’s essential to review your policy details as coverage can vary by insurer. Understanding these protections helps you make an informed decision about your rental insurance needs.