Renters Insurance Guide
Renters Insurance Resources: A Comprehensive Guide to Renters Insurance
Understanding your renters insurance needs can be challenging. This resource hub brings together helpful articles on topics like coverage types, common insurance terms, and costs. Whether you’re looking for ways to lower your premium or just want to learn the basics, these resources can help.
Terms to know:
Premium
The regular payment (monthly or yearly) you make to keep your insurance policy active.
Deductible
The amount you must pay out-of-pocket on a claim before your insurance company pays the rest.
Personal Property Coverage
Covers the cost to repair or replace your belongings if they are damaged or stolen by a covered event.
Liability Coverage
Protects you financially if you’re found responsible for injuring someone or damaging their property.
Loss of Use Coverage (ALE)
A specific cause of damage that your policy covers, such as fire or theft.
Peril
This is the official, legal document that includes the terms of the policy owner’s insurance. The policy will name the insured, the policy owner, the death benefit, and the beneficiary.
Endorsement (or Rider)
An optional add-on that provides extra coverage to your policy, often for high-value items like jewelry.
What Does Renters Insurance Cover?
Move beyond the basics and learn what is, and isn’t, typically covered by renters insurance
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