Owner does not insure, and policies put in place by the Owner do not cover the renter for any personal injury or property damage including, but not limited to, that caused by the act or omission of any other renter or third party, or by any criminal act or activity, war, riot, insurrection, fire or act of God. Residents shall obtain and pay for any insurance coverage necessary to protect the resident or resident’s property from any loss or expense that may be caused by such persons or events.
Renter’s Insurance is a form of property and liability insurance that provides coverage for a policy holder’s belongings and liability within a rental property. Such policies typically apply to persons renting a single family home, apartment, duplex, condo, studio, loft or townhome. The policy protects against losses to the resident personal property within the rented property. In addition, a Renter’s Insurance Policy protects against losses resulting from liability claims, such as injuries occurring on the premises that are not due to a structural problem with the property. For example, if a flood or fire destroys all the personal property within a rented apartment, the structure would be covered under the owner’s policy, but the personal property would only be covered through a renter’s insurance policy. Without this coverage, the resident would be responsible for the loss out of pocket.
Renter’s insurance is very affordable and you might be able to obtain renter’s insurance coverage through your current vehicle insurance provider. There are many options available for residents s seeking a renter’s insurance policy.