Renters insurance is a policy that helps you protect the valuables you own – without breaking the bank.
Get renters insurance for the things that matter to you. Then rest assured that it will be there to help you prevail if the unexpected happens.
What Does Renters Insurance Cover?
With the AARP® Homeowners Insurance Program from The Hartford, home and apartment renters can choose from a range of popular coverages. After all, your belongings still need to be protected, even if you do not own a house. Renters insurance coverage includes:
- Personal property
- Personal liability
- Medical payments
- Property damage to others
- Additional living expenses
Personal Property
This coverage helps protect items such as furniture, clothing and appliances that may have been damaged. For example, while out with friends, a kitchen fire in neighboring apartment caused smoke and water damage to your apartment. Personal property insurance helps pay the costs to repair or replace such items that are damaged in a covered event.
Personal liability
This coverage helps protect you in two ways. First, it helps cover legal judgments against you for bodily injury and/or property damage that you are responsible for, up to your policy limits. Second, It also helps pay expenses associated with your legal defense in a liability claim. For example, if someone is injured in your swimming pool that was not properly maintained, they may file a claim against you. Personal liability coverage can help pay the costs of your legal defense.
Medical Payments
This coverage helps pay medical bills associated with injuries someone has sustained in your rental property. It also covers any injury caused by a member of your family or a pet, regardless of where it happens. For example, your friend comes to meet your new dog at your apartment or at a dog park. The dog bites their hand causing injury. Medical payments coverage helps pay for the medical bills related to that covered claim. These bills are paid up to the limits of your policy coverage, whether or not you are deemed legally responsible.
Property damage to others
Rental insurance can help cover expenses when you accidently damage or break property that doesn’t belong to you. For example, you visit your friend’s apartment and break their valuable vase. Renters insurance can help cover the costs involved in repairing or replacing it.
Loss of Use
This coverage helps pay your extra living expenses up to policy limits if you cannot live in your rental property due to a covered loss. For example a fire causes the roof of your apartment building to collapse and you need to find temporary housing elsewhere that costs more than your current rent. This policy can help cover the added expenses.
Renters Insurance covers more than you may realize
You will also be protecting your investment in built-in improvements, such as bookshelves or new wallpaper, for up to 10 percent of the policy amount. For example, if your policy includes $15,000 in personal property coverage, your improvements are covered for up to $1,500.
If you have to move into temporary lodging because of damage to your building, your additional living expenses, such as hotel or motel charges and the cost of dining out, are covered for up to an additional 30 percent of your personal property coverage.
If you are legally liable for accidental death or injuries to others on your premises or for the actions of family members or pets, your policy could cover these liability claims as well up to policy limits. Even if you are not legally liable, the legal costs of your defense are covered.
If a person is accidentally injured in your rental by a slip or fall or a pet, medical care payments are covered up to policy limits, regardless of liability.
In many cases, if you or a family member accidentally causes physical damage to someone else’s property, the damage is covered up to $1,000, regardless of liability.
