RENTERS Insurance Policy
A form of property insurance that provides coverage for a policy holder's belongings and liability within a rental property. Renter's insurance applies to persons renting or subletting a single family home, apartment, duplex, condo, studio, loft or townhome. The policy protects against losses to the tenant's personal property within the rented property. A renter's insurance policy also protects against losses resulting from liability claims, such as injuries occurring on the premises that are not due to a structural problem with the property. Proof of renter's insurance has increasingly been required by many landlords in the U.S. Personal belongings within a rented property are typically not covered under the owner's or landlord's property insurance. In the event of a flood, earthquake or fire, the personal property within a rented property will not be covered, but the structure would be, under the landlord's policy. Without proper renters coverage, the tenant would be personally responsible for the losses.