If you rent an apartment, house, condo, or even a dorm room, you may not think you need insurance. But if a fire, theft, or vandalism, damages your property, your belongings will not be replaced by your landlord. A thorough Renter's Insurance Policy offers comprehensive coverage for your property, personal liability, and loss of use.
A Renter's Policy pays to replace property using one of two methods: Actual Cash Value (ACV) or Replacement Cost. ACV covers property at its current value, while Replacement Cost replaces damaged property with brand new property.
Liability Coverage safeguards yourself from injury claims that occur at your home. If someone gets hurt on your property, your insurance can pay the related medical expenses and legal costs from a law suit.
Loss of Use
Loss of Use may reimburse you for temporary living accommodations if your home becomes uninhabitable due to a covered incident (e.g., fire).