Renters insurance covers personal property and personal liability only. No structures or fixtures will be covered by a renters policy. You likely need renters insurance for an apartment, townhome, condo, or house that you are renting or leasing. You premium is solely based on your personal property.
Paine Insurance Group renter policies are based on replacement costs when you insure your personal property at $25,000 or higher, anything lower will require an actual cash value policy. Replacement cost doesn’t include depreciation, which means we will replace your loss with the newer version.
Your policy will state 1% deductible per occurrence for All Other Perils – (Everything Except Flood)
ASK YOUR AGENT ABOUT THE FOLLOWING COVERAGES
Personal property coverage is for everything that you take into your home like furniture, clothes, and everything in between. If you were to flip your home upside down, everything that falls is considered your personal property.
LOSS OF USE
Loss of use coverage goes towards your cost of living in the event you have to leave your home for repairs to be made. Hotel, meals, and extra living expenses up to 12 months are included, with the option to increase to 24 months.
Personal liability insures you against lawsuits for damages or injuries you or your family may cause on or off your property. From swimming pool accidents to playground fights, your legal fees are covered under your personal liability.
Medical payments cover any medical expenses incurred by other people on your property. If your water hose is laying on the sidewalk and your neighbor trips, falls, and breaks his leg, then your medical payments coverage will cover his medical expenses.
You don’t have to be purchasing a new home, refinancing, or buying a new car to get an insurance quote.