What is Renters Insurance?

Posted: 10/21/2009

Renters insurance is insurance that is designed to cover your personal belongings from such things as theft, fire, hail, windstorms, vandalism, explosions, and even riots. If the policyholder or their dependants cause damage to a third party, renters insurance can provide liability insurance coverage. Renters insurance can also offer additional coverage under living expenses if the insured party is forced to move while repairs are made to their dwelling. This is what's known as loss-of-use coverage. If you plan to make improvements to your property, renters insurance can offer coverage for this as well. Renters insurance is even able to cover the cost of replacing certain possessions, or in some cases the cash value with depreciation.

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