Is Personal Liability Included in Renters Insurance?
Are you considering taking the leap into the world of renting and wondering about the safety net that renters insurance offers? One common question renters often have is: “Is personal liability included in renters insurance?” In this comprehensive article, we’re going to delve into that very question to help you understand renters insurance better.
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What is Renters Insurance?
Firstly, let’s briefly clarify what renters insurance is. Essentially, renters insurance is a policy that covers loss or damage of personal belongings in a rented property. However, it often covers much more than just that.
What Does Personal Liability Coverage Mean?
Personal liability coverage, a part of most renters insurance policies, protects you financially if someone gets injured on your property or if you or your property accidentally cause damage to others. That means if your friend sprains an ankle at your rental property and decides to sue, your liability coverage could potentially cover the legal fees and medical expenses.
Is Personal Liability Included in Renters Insurance?
Yes, most standard renters insurance policies do offer personal liability coverage. Along with protecting your belongings, it provides coverage if you’re legally responsible for damage to others or their property. The terms of this coverage can vary among insurance providers, so it’s crucial to review your policy specifics with your insurer.
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How Much Coverage Do I Need?
Determining the right amount of personal liability coverage depends largely on your personal circumstances, including your financial situation and the level of risk around your rented property. It’s a good practice to discuss this with your insurance provider when you’re purchasing your policy.
Extent of Personal Liability Coverage
It’s important to know what personal liability insurance covers. Most personal liability policies cover:
Legal defense costs if you’re sued due to an accident.
Medical expenses for guests if they are accidentally hurt on your property.
Any damages you or your family accidentally cause to others’ properties.
However, it generally does not cover:
Intentional damage caused by you or a family member.
Automobile-related injuries or damages (this is usually covered by your auto insurance).
Business activities conducted on your property.
APOLLO offers effortless tenant insurance designed to protect Canadian renters and their belongings. It takes less than a minute to get a free online quote, and we’ll send your policy documents directly to your email inbox.
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Originally published June 30, 2023, updated August 25, 2023
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