Renter's Insurance

Take a good look around your home. If everything you own was stolen or destroyed by a natural disaster, would you be able to afford to replace it all? If any of your valuable personal property were stolen or vandalized, would you be able to afford to pay for them again out of your own pocket? Do you have the cash on hand to replace your computer, laptop, iPod, DVD player, TV, stereo, jewelry, clothing, furniture, or appliances?

An HO-4 policy is the form used for a renter's insurance policy. The renter's policy will provide for coverage for personal property held within the dwelling. This policy does not cover the house or apartment that is being rented as that would be covered on the landlords’ policy. This policy will usually also provide liability coverage for the tenant as well as improvements the tenant has done to the property.

Here is a break-down of the coverage's:

• Coverage A - Dwelling: None.
• Coverage B - Other Structures: None.
• Coverage C - Personal Property: $10,000 minimum (can vary by state).
• Coverage D - Loss of Use: 30% of Coverage C.
• Liability: Minimum of $100,000.
• Medical Payments: Minimum of $1,000.