Renters Insurance

The HO-4 renters policy is a combination of property and liability coverages. The HO-4 policy is tailored to meet the needs of a tenant. The policy focuses on loss to personal property. coverage for legal liability is also included.


Personal Property

This is the primary limit of insurance coverage for the HO-4 policy. coverage C provides worldwide coverage for personal property of the insured. Special limits apply to some types of property, and some types of property are excluded from coverage. The insured selects the limits of coverage which is determined by the value of personal property owned.


Loss of Use

Coverage D applies if a peril insured against under Coverage C makes the residence unsuitable for living. payment would be made for expenses incurred to live elsewhere following the loss. The limit for Coverage D is 20% of Coverage C.


Personal Liability

Section II of the renters policy provides liability coverage for personal loss exposures. The insuring agreement under Coverage E provides liability coverage if a claim is made or suit is brought against an insured because of bodily injury or property damage. Coverage is provided for the named insured and members of the insured's household who are relatives.


Deductible

The renter's policy has a standard deductible of $500. The insured may increase the deductible to $1,000 or $2,500.