Most people consider renters insurance a measure taken in order to protect their material possessions and with this thought in mind some decide it’s not worth the effort and investment. However, those who do a bit of research into the subject discover that this insurance does much more than just keep safe from the results of the named perils; it also secures the holder and those close to him/her through the personal liability claim.
During the holidays (and not just then) people get together to celebrate and spend quality time together, but these gatherings can unfortunately reserve unpleasant surprises also. Someone, somewhere on your property, can injure themselves, and since the misfortune took place on your property you become liable; if you are unprepared, you can get sued. On the other hand, if you have renters insurance with personal liability coverage, you will look and feel completely in control by using the magic words: “Let’s have that looked at, my renters insurance will cover it.”
The standard renters policy (HO4) has limits too and it normally contains four separate sections, referred to as Coverage C, D, E, and F.
- C Coverage – protects personal property with limits for the theft and loss particular classes of items (coins, medals, jewelry) – you set the dollar amount limit for this coverage;
- D Coverage – loss of use/additional living expenses – more precisely the expenses you face when the apartment you live in can’t be used because of an insured loss;
- E Coverage – is the one that covers your personal liability claims and suits for bodily injury or property damage – you choose the limit when you buy the policy;
- F Coverage – is the one that pays for medical expenses for minor injuries to others.
Make sure you’re prepared for the unexpected and enjoy life without worry.
