Here's an insurance detail that may be news to many renters: Although a building owner's insurance should cover losses that occur in common areas or shared facilities, landlords often are not responsible for damage that occurs inside a rental unit, including any damage to a tenant's personal property. That's where renters insurance comes in. This type of coverage, which is sometimes called tenants insurance, can pay for damage to personal possessions, tenant liability issues, and additional living expenses in circumstances where a covered loss results in temporary relocation. The digital insurance carrier Lemonade also points out that renters insurance policies can cover incidents such as theft, injuries and mishaps inside a rental home. For the purposes of consumer education, Lemonade recently assembled the list of real-life renters experiences that triggered a claim and are outlined in the slideshow above. See also: |
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Elana Ashanti Jefferson
Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
