Renters' insurance helps protect your personal belongings against damage or theft while you rent a property. It’s a smart way to safeguard your valuables and meet landlord requirements if insurance is requested.
Sure's Renters Insurance will cover both your personal property and personal liability.
Personal Property Coverage:
With this coverage, some exclusions and limitations your personal belongings are covered if they are damaged as a result of many named perils. Some examples are:
Fire or lightning
Windstorm or hail
Explosion
Smoke
Vandalism or malicious mischief
Theft
Accidental discharge or overflow of water or steam
Personal Liability Coverage:
With this coverage, you are financially protected in the event you are legally liable for damages because of bodily injury or property damage caused to your rental property or the property of others. It also pays the owner/property manager for damage to the home as a result of things like fire, water damage, or smoke. There is no deductible for this personal liability coverage.
You may also optionally add extra protection:
Water or drain backup. The maximum benefit for the endorsement is $2,500 for each 'occurrence'. In North Carolina the maximum benefit is $5,000. In Maryland, the maximum benefit is equal to the personal property limit selected. In all states a $250 deductible applies.
Identity fraud. Coverage can reimburse you up to $15,000 for expenses as a direct result of identity fraud. Identity theft and fraud refers to the use of wrongfully obtaining someone else's personal information and using it in a way that includes deception, usually for an economic gain.
Replacement cost. If your personal property is damaged by a covered peril, the policy will pay the cost of replacement of the item without deduction for depreciation (what it was worth when you bought it). The item(s) must first be replaced before the full replacement cost can be paid.
What's Not Covered? |
As with all insurance policies, there are some exclusions and limitations that apply. Depending on your policy you may not have coverage for losses caused by certain excluded events. Please refer to your policy for all details about your coverage, including limitations and exclusions. Here are some examples that we feel are important for you to know:
Personal Property Coverage
*Earthquake coverage is available by endorsement in CA and WA. Water Backup of Sewer or Drains is available by endorsement in most states.
Liability Coverage
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Coverage availability and limits vary by state. For a detailed listing of all the coverages, exclusions, and limitations that apply, please refer to the policy.