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Rent Insurance

What Does Rent Insurance Mean?

Rent insurance (also known as tenant insurance or renters insurance) is a policy that covers damage or loss to the personal property of the policyholder who occupies a space they rent, as well as liability for damage or loss to that rented space.

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Insuranceopedia Explains Rent Insurance

Landlords usually require their tenants to have rent insurance, whether they are renting an apartment space, a condo, or even a room within a house.

This insurance covers, first, the personal property of the tenant. A loss or damage that happens in the rented space can be shouldered by this policy. Second, if the tenant or a companion of theirs does damage to the property, this policy covers the damage. For example, if the tenant accidentally breaks a window, the policy can offer monetary compensation or replace the window altogether.

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Synonyms

Tenant Insurance, Renters Insurance, Renter's Insurance

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InsurancePersonal PropertyPersonal LinesPersonal

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