Which of the following items would be covered by a standard renters insurance policy?

Asked by: Sadye Dickinson  |  Last update: February 11, 2022
Score: 4.4/5 (14 votes)

Renters insurance typically includes three types of coverage: Personal property, liability and additional living expenses. Personal property coverage can help pay to replace your belongings if they're stolen or damaged by a covered risk.

What does renters insurance actually cover?

Renters insurance covers damage to or theft of personal property, personal liability damages, emergency medical expenses for guests and additional living expenses if you need to temporarily relocate.

What is a standard renters insurance policy?

The typical renters insurance policy offers $100,000 in liability coverage. For renters, this amount is often sufficient. However, if you entertain company frequently at your home or if your assets exceed that amount, you should consider an amount of insurance equal to at least the total value of your assets.

What will renters insurance typically cover quizlet?

Renters insurance provides liability insurance and the tenant's personal property is covered against named perils such as fire, theft, and vandalism. It also pays expenses, when the dwelling becomes uninhabitable.

Does renters insurance cover natural disaster?

Property Damage and Loss

A natural disaster, such as hail, fire, rain, hail, or wind storm. Standard renters' insurance does not, however, cover all natural disasters. Typical exceptions include earthquakes and floods (in which case you will need to purchase additional coverage, if necessary).

5 Things to Know About Renters Insurance

40 related questions found

Which of the following would your liability insurance protect you against?

Insurance protects you against potential financial losses or liability that result from unexpected events. In the context of insurance, the term liability is used to mean that you may be required to pay someone for damages that you caused.

Does renters insurance cover personal liability?

Personal liability coverage is part of a standard renters insurance policy. It may help pay for another person's medical bills or repairs to their property if you're found legally responsible for their injuries or property damage.

What does renters insurance cover in Michigan?

In general, a Michigan renters insurance policy will have liability, personal property, loss of use, and medical payments to others coverage, along with additional coverage options called endorsements or floaters.

What does renters insurance cover in Florida?

Renters' insurance provides protection against financial loss if your personal property (contents) is damaged or destroyed by a covered peril. A peril is something that causes or may cause damage, loss, or destruction, such as a fire, tornado or hurricane.

What are the three major parts of a renters insurance policy?

Renters insurance typically includes three types of coverage: Personal property, liability and additional living expenses.

Does renters insurance cover water damage from toilet?

Renters insurance covers damage to your property from your toilet flooding because of accidental overflow or discharge. ... It would also pay for the damage you caused to the property you rented if you were deemed liable.

How does renters insurance claim work?

Renters insurance claims (as well as those under homeowners insurance) often involve the carrier sending someone to investigate damages. This person, frequently called a claims adjuster, will assess the damage and determine whether how much you're eligible to receive in reimbursement.

Is renters insurance required in Florida?

Do you need renters insurance in Florida? It's not required by law, but some landlords may require renters insurance. Even if yours doesn't, you may want to purchase a policy anyway to cover your belongings in case of fire, theft or other disasters.

Does renters insurance cover items stolen from car?

Personal property coverage on your renters insurance policy may cover your belongings if they're damaged or stolen, up to specified coverage limits minus your deductible. Renters insurance also typically covers items stolen from vehicles, storage units, or while traveling.

Does renters insurance protect the landlord?

Renters insurance doesn't protect the landlord against a personal property loss, it protects you. ... You don't need to protect the landlord, you need to protect yourself against the risk that life will happen. Generally your policy will pay replacement cost vs. actual cash value on your property.

Is renters insurance required in Michigan?

While renters insurance is not required by law in Michigan, some landlords may require it for you to live in their building. It's generally a good idea to have at least some form of coverage as your landlord's insurance is not liable for any damage to your personal property.

What is the average renters insurance in Michigan?

Average Cost of Renters Insurance in Michigan. Michigan renters insurance is 56.0% more than the U.S. average. The average cost of renters insurance in Michigan is $249 per year, which is $90 more than the national average. That translates to a standard monthly rate of about $21, $7 more than the national average.

Does renters insurance cover fire damage?

Renters insurance protects your personal property if it's damaged by a covered event, known as an insurance peril. Common insurance perils include fire, smoke, theft, storms, hail, and lightning. Damage to your personal property by fire and smoke are covered insurance perils.

What are liability coverages?

Liability coverage pays for property damage and/or injuries to another person caused by an accident in which you're at fault. This coverage is required by most states to legally drive your vehicle. Liability coverage is broken down into 2 parts: property damage and bodily injury.

What is standard liability auto insurance?

Liability car insurance is coverage that pays to repair the damage you cause to other people and their things. Liability just means “responsibility,” so liability insurance pays out when you're responsible for an accident.

Which of the following is not covered in a standard homeowner's policy?

Termites and insect damage, bird or rodent damage, rust, rot, mold, and general wear and tear are not covered. Damage caused by smog or smoke from industrial or agricultural operations is also not covered. If something is poorly made or has a hidden defect, this is generally excluded and won't be covered.

What liability coverage should I have?

The best liability coverage for most drivers is 100/300/100, which is $100,000 per person, $300,000 per accident in bodily injury liability and $100,000 per accident in property damage liability. You want to have full protection if you cause a significant amount of damage in an at-fault accident.

Are sinkholes covered by renters insurance?

If you live in a place where flooding, sinkholes, or earthquakes are common, beware! Renters insurance typically does not cover items damaged by these types of natural disasters.

Why do you need renters insurance in Florida?

Renters insurance is an important form of insurance. It keeps your belongings safe in the event your rental property suffers damage from a common incident. Renters insurance covers your items in the event of smoke or fire damage, a wind storm, theft or vandalism and an array of other events.

What does loss of use mean in renters insurance?

What's a loss of use claim, and how does it work? Loss of Use coverage only applies when your home becomes uninhabitable resulting from a covered loss. This coverage covers any Additional Living Expense, meaning any necessary expense that exceeds your normal standard of living.