Renters Insurance or HO-4 – This policy covers property of the people who rent a dwelling, it can be a home, a condo, an apartment or a townhouse. The policy covers loss or damage to property as a result of the 16 named perils specified in HO-1 and HO-2. This is a broad policy which can extend to all of the belongings a person owns but not to the dwelling or structure itself. HO-4 can also cover Liability Insurance and Medical Payments to Others, this will help cover the renter with a small amount of insurance in case other people encounter accidental injuries within the property.
What does Renters Insurance Cover?
Personal property, things like computers, furniture, electronics, surfboard, bikes, etc.
Renters insurance may cover losses caused by:
- Weather: Fire, storms, freezing, weight of ice, wind, hail, lightning, snow or sleet
- Non-weather: Theft, vandalism, riots, vehicles and aircraft
- For additional coverage on your valuable add a personal article policy.
What’s Not Covered by Renters Insurance?
Renters insurance may not cover:
- If the insured intentionally causes harm to property or person
- Business pursuits or professional services
- Ownership, operation, or maintenance of aircraft, motor vehicles and some watercraft