Tenant's Policy

Published: | Updated: August 26, 2016

Table of Contents

Definition - What does Tenant's Policy mean?

A tenant's policy is an insurance policy that protects renters from losses due to damage caused to the property itself, loss of personal property, and the liability of harming those on the property. It is similar to homeowners insurance and protects against similar perils.

It is also known as a renter's policy.

Insuranceopedia explains Tenant's Policy

Often, landlords require tenant's insurance as part of the lease. However, although landlords must purchase on a policy insuring the property as a whole, it often does not extend coverage to the personal property of renters, and tenants are still legally responsible to any damage they cause to the property as well as personal liability. Because of this, a tenant's policy may represent a wise investment and turn out to save buyers money in the long run.


How Well Do You Know Your Life Insurance?

The more you know about life insurance, the better prepared you are to find the best coverage for you.

Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.

Share this:

Connect with us

Email Newsletter

Join thousands receiving the latest content and insights on the insurance industry.