Have you ever wondered who is covered by renters insurance, other than you as the named insured? It’s difficult to find an affordable policy in many parts of Georgia currently. The market is going through a cycle of hardening, tightened underwriting standards, and increased prices. That makes it more important than ever to know who your Columbus, GA Renters Insurance covers.
Who Is Covered By Renters Insurance Personal Property Coverage?
Personal property coverage is designed for the policyholder, or named insured. It protects your property against a wide list of renters insurance perils. If there’s a fire, the landlord’s policy doesn’t protect you in any way. The landlord is responsible for the building, not the contents. Since the definition of named insured is broad, who is covered by renters insurance personal property?
You’re protected. So is your resident spouse and any resident relatives. Your children are included. There are additional inclusions for minors who are in your care, but not related to you. Personal property coverage on renters insurance protects you and your family. At your option, you can even extend it to cover a loss to personal property of a guest in your home. A guest, of course, is temporary. A roommate or boarder would need their own policy.
Who Is Covered By Renters Insurance Liability And Medical Payments?
Renters insurance liability and medical payments to others are different from personal property. While they’re designed to protect the policyholder, those types of coverage are not designed to pay for losses incurred by the policyholder. So who is covered by renters insurance liability?
Any third party, or person not a party to the policy (not you, not the insurance company) may seek payment under these sections of your policy. The coverage protects you, but it pays for bodily injury or property damage suffered by someone who is not you. We remember one person who stormed out of a bank and opened their glass doors angrily. He caused the door to shatter, resulting in significant property damage to the bank. Those costs didn’t come out of the insured’s pocket, his policy paid. The bank’s losses from the damage were covered by the policy.
Liability on your Columbus, GA Renters Insurance policy is designed to protect you from having to pay the costs of damages you cause to others, as well as to defend you against their claim or suit. While you can’t collect money from the coverage, it certainly protects you.
Who Is Covered By Renters Insurance Loss Of Use?
Loss of use coverage pays for additional living expenses after a covered loss. Who is covered by renters insurance loss of use? The policyholder is the one who would be responsible for those costs, so they’re the one covered. When you can’t use your apartment because a covered loss has occurred, loss of use coverage is invaluable. It allows you to continue living your life while repairs are made or you find a new apartment.
The specifics of who is covered by renters insurance can be found in the definitions of the coverage. That’s all in your policy document. While it’s not exactly light reading, we suggest that everyone should read and understand their policy. It’s the best way to know what – and who – it covers, and you’re responsible for knowing those things.
Reading the policy inevitably raises questions, and that’s what the insurance experts at Effective Coverage are here for. If you have questions about your policy, who is covered, or what coverage options are available, just call (800)892-4308 or click to get covered - whether you need Georgia renters insurance quotes online or coverage anywhere else!
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