Property and Liability Insurance
Renter's Insurance
If you rent your residence, you don’t have to worry about insuring the building. That is the landlord’s responsibility. However, your personal possessions are your responsibility to protect.
RENTER'S POLICY - insurance that protects renter's from property & liability risks.
A renter’s policy will protect you from damage to personal property, liability for injuries to your guests, and loss of personal possessions you carry with you outside the home.
-Personal Property
If by any chance your possessions are damaged or destroyed by fire, smoke, water, moisture, freezing, or heat, a renter’s policy will cover the costs of repairing or replacing damaged or destroyed property.
-Liability
If someone is injured while in your rented home, you may be liable to pay his or her expenses. The landlord or owner is not responsible for what happens inside the residence; that is your responsibility because you have control over those events. Your renter’s policy will pay for medical costs incurred by your guests.
A renter’s policy will also protect your personal possessions while they are in your car or at work.
Homeowner’s Insurance
Homeowners Policy - Insurance that protects property owner's from property & liability risks
It is similar to renter’s insurance, except it includes coverage for the building in addition to the owner’s personal possessions inside the building. Also, typically covers property owners’ losses from: hazards, crimes, & liability.
-Physical Damage Coverage
Hazards such as fire, wind, water, and smoke may damage or destroy your home or cause you to temporarily lose use of it. The main component of homeowner’s insurance is protection against financial loss due to damage or destruction. Detached structures on the property, such as a garage or shed, as well as trees, plants, and fences are also covered. If damage from a covered hazard prevents you from using your property while it is being repaired or replaced, your homeowner’s policy will pay for temporary housing for a limited time.
-Theft and Vandalism Coverage
Protects your personal belongings against loss from criminal activity, such as robbery and physical damage from vandals. It covers your property when it is in your home or with you when you are away.
Personal Property Floater - Insurance coverage for the insured moveable property wherever it may be located.
-Liability Coverage
Liablility Coverage - Insurance to protect against claims for bodily injury to another person or damage to another person’s property.
Homeowner’s are responsible for acts occurring on their property, both for guests and for uninvited guests. A guest is someone you specifically ask to come to your house. An *uninvited guest is presumed to have permission to be on your property, such as door-to-door solicitors or delivery people. In most cases, homeowners will not be held liable for damages by a trespasser.
*Attractive Nuisance: a dangerous place, condition, or object that is particularly attractive to children, such as a swimming pool.
If a child sneaks into a private pool without permission and is hurt, the homeowner will be held liable for the child’s injuries. The owner is usually responsible, even if he or she takes steps to prevent entry into the pool.
If you rent your residence, you don’t have to worry about insuring the building. That is the landlord’s responsibility. However, your personal possessions are your responsibility to protect.
RENTER'S POLICY - insurance that protects renter's from property & liability risks.
A renter’s policy will protect you from damage to personal property, liability for injuries to your guests, and loss of personal possessions you carry with you outside the home.
-Personal Property
If by any chance your possessions are damaged or destroyed by fire, smoke, water, moisture, freezing, or heat, a renter’s policy will cover the costs of repairing or replacing damaged or destroyed property.
-Liability
If someone is injured while in your rented home, you may be liable to pay his or her expenses. The landlord or owner is not responsible for what happens inside the residence; that is your responsibility because you have control over those events. Your renter’s policy will pay for medical costs incurred by your guests.
A renter’s policy will also protect your personal possessions while they are in your car or at work.
Homeowner’s Insurance
Homeowners Policy - Insurance that protects property owner's from property & liability risks
It is similar to renter’s insurance, except it includes coverage for the building in addition to the owner’s personal possessions inside the building. Also, typically covers property owners’ losses from: hazards, crimes, & liability.
-Physical Damage Coverage
Hazards such as fire, wind, water, and smoke may damage or destroy your home or cause you to temporarily lose use of it. The main component of homeowner’s insurance is protection against financial loss due to damage or destruction. Detached structures on the property, such as a garage or shed, as well as trees, plants, and fences are also covered. If damage from a covered hazard prevents you from using your property while it is being repaired or replaced, your homeowner’s policy will pay for temporary housing for a limited time.
-Theft and Vandalism Coverage
Protects your personal belongings against loss from criminal activity, such as robbery and physical damage from vandals. It covers your property when it is in your home or with you when you are away.
Personal Property Floater - Insurance coverage for the insured moveable property wherever it may be located.
-Liability Coverage
Liablility Coverage - Insurance to protect against claims for bodily injury to another person or damage to another person’s property.
Homeowner’s are responsible for acts occurring on their property, both for guests and for uninvited guests. A guest is someone you specifically ask to come to your house. An *uninvited guest is presumed to have permission to be on your property, such as door-to-door solicitors or delivery people. In most cases, homeowners will not be held liable for damages by a trespasser.
*Attractive Nuisance: a dangerous place, condition, or object that is particularly attractive to children, such as a swimming pool.
If a child sneaks into a private pool without permission and is hurt, the homeowner will be held liable for the child’s injuries. The owner is usually responsible, even if he or she takes steps to prevent entry into the pool.