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Let’s just imagine for a minute. You ‘re living in a cheerful summer neighborhood, along
the coast. It’s a dream-the sun shines brilliantly, the beach is within cycling reach, it’s
fun in your life’s suntime. The hurricane season is coming and your area is struck by a
tropical storm, nothing deadly, but terrifying and damaging. The roof of the bungalow
you rent continues to leak. You ‘re calling the landlord who’s hiring a roofer. When the
roof has been patched, you ask a few friends to help you with the house’s
water-damaged furniture – the sofa needs to be repaired, and also the coffee table &
area rug. While helping your friend slip and fall, he ‘s breaking his arm. You call your
landlord again and ask if he has already spoken to his insurance firm about repairing
your furniture. He says no. You ‘re talking about getting your friend’s medical costs paid.
Again, the landlord says no. Now you’ve got to buy $2,000 of the furniture in your
house, and your buddy has tens of thousands of dollars of healthcare bills to pay out of
your house.

The landlord’s rental home risk insurance policy protects the house and outbuildings
only, and does not extend coverage to the tenant’s belongings or liabilities if anyone is
injured on the premises. Many tenants do not know that their properties are at the risk of
any amount of claims from the landlord’s policy without any coverage whatsoever.
Renter’s policy protects the occupant against loss of personal possessions and from
liability that may result from damage to property or physical harm to others. The policy
of the renter is called the HO-4 Contents Wide Type (Apartment Dweller’s Coverage).

Property Coverage:

Property coverage refers to personal property, wherever it is located, used or used by
insured and insured members who reside in the household. Personal property shall be
protected against natural or man-made harm or loss. Man-made hazards include fire,
burglary, dropping objects, explosion, disturbance or civil commotion, aircraft,
automobiles, vandalism or mischief, robbery, accidental discharge or leak of water or
steam from a plumbing or sprinkler device, and unexpected and unintentional damage
from artificially produced electrical current lightning. Wind, hail, smoke, ice or snow and
volcanic eruption are natural hazards. Some countries have compulsory or special laws
covering natural disasters in these jurisdictions, such as California earthquakes, and
hurricanes or sinkholes in Florida. It is also necessary to remember that the insurance
plans of the homeowner do not cover damages caused by floods, back-up of sewers or
drains, battle, nuclear threat or deliberate losses incurred by the insured.

Any of the hazards listed are subject to restrictions. Robbery, for example, includes the
loss of attempted theft and the loss of property from a location where the property is
suspected to have been robbed but does not include unexplained disappearances, robberies committed by the insured or at construction sites. Watercraft, associated
vehicles, trailers and campers are not protected outside the home. Only insured to a
limit is other private possessions, such as jewels, money, coins, souvenirs (such as
postage collections) and silverware. Many people tend to list such items separately as
“scheduled items” with a different value for each item.

Another compensation for tenants is ‘loss of use,’ which requires an improvement in the
usual cost of living if the damage or failure makes the house unfit for occupancy. Loss
of usage would cover a rise in food and shelter costs , for example, if the residence is
impaired by an included risk. Loss of usage typically only refers to these changes for a
specified period of time when the house is being fixed.

Liability Coverage:

The scope of liability covers the policyholder from civil responsibility to others for
physical injury or property harm, and provides for medical or other related costs of those
who are injured by personal activities. Responsibility policy does not require
responsibility as a consequence of commercial practices, motor vehicles and watercraft.

Renter’s policy covers costs and injuries from a variety of threats and lets homeowners
stay on their feet in the event that their home is uninhabitable. A full insurance package
tailored to the needs of the client would provide the best service at the most competitive
price.