Massachusetts MA Renters Insurance

What Is Renters Insurance?

The Basics

As a renter, one's insurance needs are different than one who owns a home or a apartment. The reason is because an insurance policy, owner by the owner of the apartment, covers the structure and inside walls of the apartment.

The master policy, however, does not cover the renter's personal belongings in the condo that is damaged by vandalism, theft or fire. The master policy, also, does not cover the unit owner's personal liability in the event of a lawsuit.

The Coverage Parts

A typical Renters Insurance policy has a few different sections of coverage. Most likely, one's policy would include the following coverage parts:

Section I

2. Coverage C - Unscheduled Personal Property

This part of coverage pays for damage to personal property of the insured arising from a covered peril.

3. Coverage D - Loss Of Use

This coverage part pays an insured if the insured incurs additional living expenses, beyond normal living expenses, while living at another location if the residence premises is unavailable due to a covered peril. This part will be paid to an insured for no more than 2 weeks.

Section II

1. Coverage E - Personal Liability Coverage

This coverage part protects an insured if a legal suit is brought against him or her as a result of legal responsibility for bodily injury or property damage to others. This will protect an insured if another person is injured on or off any insured location.

2. Coverage F - Medical Payments To Others Coverage

This coverage part will provide payment of medical expenses for someone that has undergone bodily injury as a result of the personal activities of any insured or as a result of the insured location. Limits do apply to the extent of the medical expenses covered. This coverage applies only to a person on the insured premises with the permission of the insured and a person off the insured premises if the injury is caused by the personal (non-business) activities of the insured. This coverage part also covers against injury caused by an animal owned by the insured.

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