Renters liability or personal liability coverage provided by a renters insurance policy covers the policyholder in case of a lawsuit resulting from incidents originating on the rental property, such as accidental injuries, injuries from household pets, or accidental damage to a neighbor’s personal property. Your personal liability coverage can usually be increased or augmented with an umbrella insurance policy if needed.
Additional living expenses coverage provides reimbursement if a covered disaster results in temporary relocation from the rental property. This ensures the policyholder is compensated for additional lodging, food, and other living expenses while they are living somewhere else. Covered disasters generally include smoke, fire, explosions, theft, vandalism, windstorms, lightning, and water damage from internal sources, such as plumbing or intrusion from a neighboring unit, according to the Insurance Information Institute. Common exclusions include earthquakes and floods from weather or other external water sources.
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