WHAT'S TYPICALLY INCLUDED IN A POLICY?
If you’re a renter ...
Guest medical coverage
Helps renters pay for reasonable and necessary medical expenses, such as the cost of x-rays or an ambulance. This coverage generally applies if a guest is injured in or around the tenant’s rented premises, even if the tenant is not found to be at fault.
Personal property coverage
Helps reimburse the tenant if personal belongings are stolen or destroyed by fire or another covered peril. This coverage applies to items such as clothing, furniture, and electronics. Tenants may wish to consider an endorsement or separate policy for high-value or collectible items.
Reimbursed living expenses
Helps pay for a tenant’s increased living expenses if a covered loss makes the rented apartment or home uninhabitable. These expenses typically include costs such as food, transportation, and temporary housing.
If you’re a landlord ...
Liability coverage
Helps pay for medical or legal expenses if a tenant is injured in the building and the landlord is found legally responsible.
Personal property coverage
Helps cover property that is rented or held for rental along with the insured premises. This may include items such as couches or other furnishings in a furnished rental. Unlike renters insurance, which covers the tenant’s personal belongings, landlord insurance focuses on property owned
by the landlord.
Additional coverage that can be available through an endorsement or separate policy
- Flood Insurance
- Earthquake Insurance
- Building Codes
- Rental Property Construction
- Vandalism
- Theft
- HVAC Loss Reimbursement
Example coverage may include ...
For renters: pieces of furniture; items of clothing; electronics; and collectibles (additional coverage may be required); in the case of theft, fire and smoke; water damage from plumbing, furnace/AC or water heater; and vandalism.
For landlords: rental-supplied furnishings and permanent fixtures such as a stove, washer/dryer, refrigerator, etc.; the building itself; other structures on the property like sheds, fences, etc.; and equipment used to service the premises such as lawnmowers, snowblowers, etc.; in the case of fire, wind, lightning and hail.