What Does a Renter's Insurance Policy Cover?

We recently talked about how not having renter’s insurance was a mistake that fools make. 

Now that you have made a decision not to be a fool, you are wondering what exactly a renter’s insurance policy covers.

Here is an idea of the basic parts of a renter’s insurance policy. 

Personal Property

This is the coverage for your stuff. Your furniture, clothes, electronics, jewelry, and other knickknacks around your home/apartment. 

Loss of Use

An important coverage for you in the event of covered loss. This provides you with additional living expenses for you or your family while you are temporarily misplaced.  Items such as temporary shelter, dining out expenses. 

Personal Liability

Providing coverage for your actions or negligence in property damage or bodily injury to others. 

Medical Payments

Coverage for medical payments that may cover others’ medical expenses that result from and accident or injury on your property. 

Those are the four majors parts of a renter’s insurance policy. Later on this week we will give you coverage options that we feel that no renter’s insurance policy should be without.