Renters and Condominium Insurance

Apartments and Condominium Associations generally carry insurance that covers the building. You need insurance to cover your own possessions. Renters and Condo insurance policies cover your personal property, including: furniture, clothing, drapes and decorations, appliances, etc. Valuables such as jewelry, computers, art and silverware require additional insurance provided by a "rider" to your policy. In addition to property coverage, most of these policies include liability coverage to protect you if someone is injured due to your negligence.

Liability Coverage This coverage is part of your homeowners policy. It protects you and your family against claims arising from bodily injury or property damage for which you are legally responsible. Examples of situations covered by liability insurance include: if someone slips and falls on your property, if your dog bites a neighbor, or if your broken pipe causes damage to a neighbor's condominium. You can add a liability "umbrella policy" to your homeowners insurance to provide additional protection.

Additional Living Expenses If your home becomes unfit to live in because of damage from a covered incident, your homeowners policy provides payment for the increased cost of lodgings, meals, etc..