So, what is renters liability insurance? An insurance policy for renters is a group of covered policies designed to help protect a person living in a house or apartment. There are three types of coverages that help protect one's belongings and arrangement of livings after a covered loss. Tenant or renters insurance helps cover unexpected events known as covered perils under renters liability insurance. Liability insurance for renters, do I need it?
There are times when certain situations cannot be prevented like theft, robbery, or visitor’s injury, that’s where tenant insurance comes in.
• Personal property
Covers the costs required to replace or repair one's belongings. It has certain limits in insurance policies.
Covers the expenses of the unintentionally destroyed property or a guest's medical bills if one is found responsible for their injuries.
• Additional living expenses
This includes hotel bills or if the property you are currently renting is damaged or is left uninhabitable.