Rented Property Insurance

What Is Renters Property Casualty Insurance?

Renter’s property casualty insurance is probably one of the simplest types of policies to understand because, basically all you are covering is your personal possessions and your liability.

Renter’s property casualty insurance is also relatively
inexpensive. In fact, it’s probably one of the least expensive policies you can buy, yet it gives you invaluable protection should you ever have a loss.

Renter’s property casualty insurance (HO-4) policies provide a wide range of coverage for both personal property and liability.

It insures the contents inside the building (your personal property) from the same risks and perils as an HO-2 homeowner dwelling policy. HO4 policies are basic tenants insurance that covers you in the event that a loss is caused by one of seventeen named perils. Those perils are: fire or lightning; explosion; theft; volcanic eruption; falling objects; riot; aircraft; vehicles; smoke; vandalism; windstorm or hail; weight of ice, snow or sleet; three categories of water-related damage from home utilities; and electrical surge damage. You are also covered for basic liability and medical payments.

Why Buy A Renters Policy?

When renting a house or an apartment, protection against unexpected accidents could be provided by renter’s property casualty insurance. A landlord’s insurance will cover his/her property, but not a renter’s personal property. Your roommate’s insurance will cover his or her possessions, but it will not cover yours unless you are listed on her policy. It is possible however, for roommates to get a single policy to cover all inhabitants and possessions in the apartment.

When the unforeseen occurs, it would be comforting to know that you are financially secure. If your expensive digital camera is stolen from your car, are you covered? You will be, if you have homeowners or renters insurance. Another question to ask yourself is; will my guest’s medical expenses be covered if they are accidentally injured in my home? If you have a renter’s property and casualty insurance policy, they would be. You have special items, protect them and your friends!

Things You Should Consider

when deciding whether or not to get a rented property insurance policy or how much to get, you need to ask yourself some very specific questions like: What would it cost to replace the contents in my home? Should I purchase flood insurance? Should I get expanded coverage for both my belongings and liability? Once you have answered these questions, you should have a good idea whether or not to get it and if so, what amount of coverage you’ll need. For more information, read this post here.

There are additional coverage’s available for personal property such as: sports equipment, electronic data processing equipment, silverware, jewelry and other valuables. Doing a household inventory of your items and figuring on the replacement cost, will help to determine if you will need additional rented property insurance. Also, you will need to consider getting added liability coverage than what most basic policies will provide.

Shopping For Rented Property Insurance

Just like everything else, if you shop around between companies, you will find a variety of options to choose from that are offered by rented property insurance agents. What is most important, is choosing a company that will give you quality customer service and support. The company should have knowledgeable representatives trained to answer to your coverage questions.

Additionally, everyone’s insurance needs are unique to them. You should choose a company that offers a wide array of coverage options. This will enable you to increase coverage should the need arise in the future. Some insurance companies may tell you that it all comes down to price. This is true in many cases. Go to for more information..

Property InsuranceRemember the old adage – you get what you pay for. While shopping around, make sure that you completely understand the entire policy and the service promised behind the price and any discounts that may be available.