Always be sure to check your full policy documentation for specifics on what is covered in a given policy AND what the exclusions/limits are. In general, the most common coverages for a residential renters insurance (HO-4) policy are:
Personal Property: This coverage protects your personal belongings and property, including furniture, clothing, cookware, dishes, televisions, and other electronics.
Deductible: This is the amount out-of-pocket that the renter is responsible to pay in the event of a covered loss before the insurance policy pays. This applies to a renter’s personal property coverage. The deductible resets for every claim, so each time there is a covered loss, the renter will be responsible for the deductible’s amount for that individual claim.
Additional Living Expense: Should your apartment or rental property become uninhabitable due to an incident covered in your policy, Additional Living Expense (aka Loss of Use) coverage is part of your selected personal property coverage. The coverage is designed to help you cover the extra costs associated with relocation and time spent not inhabiting the rental property. This may include additional costs like laundry facilities, a hotel stay, restaurant bills, rental costs, storage, accommodations for a pet, etc. The idea is that this coverage is for extra costs over and above a renter’s normal expenses.
Liability: Liability coverage protects the named insured(s) in the event of negligent damage to the property, the community (if applicable), or other residents.
Medical: If someone is injured on the property you rent and seeks medical attention, this coverage will pay for medical treatment.
Water Damage: Some renters insurance policies offer water damage coverage, which pays for damage to your personal property.