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 residing in a rented space. It also provides liability coverage for any damage or loss to the rented property itself.
Insuranceopedia Explains Rent Insurance
Landlords often require tenants to have rent insurance, whether they are renting an apartment, a condo, or even a room in a house.
This insurance primarily covers the tenant’s personal property. If loss or damage occurs within the rented space, the policy will compensate for it. Additionally, if the tenant or someone they invite causes damage to the property, the policy will cover the costs. For instance, if the tenant accidentally breaks a window, the policy can provide monetary compensation or arrange for its replacement.
