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The Homesite Standard Renters Insurance Product (ISO - HO-04)®
Our Standard Renters insurance product provides broader coverage for a customer's personal property. Additionally, it provides the ability to add optional coverages, including: scheduling valuable property; special coverages; water back-up; varying deductibles; and coverage limits from $36,000 to $100,000. Our policy includes the following protections:
- Personal property, starting at $36,000 and going up to $100,000.
- Medical expenses, paying up to $1,000* per person if someone is injured on your property.
- Liability exposures, protecting you against certain risks up to $100,000* per accident for bodily injury or property damage.
Our standard renters insurance product is a named perils policy. If your property is lost or damaged as a result of a covered peril, your insurance company will compensate you for your loss. For a full list of the coverages and options, please review the Renters Product Comparison.
- Fire or lightning
- Windstorm or hail
- Explosion
- Riot or civil disturbance
- Aircraft
- Vehicles
- Smoke
- Vandalism or malicious mischief
- Theft
- Volcanic eruption
- Falling objects
- Weight of ice, snow, or sleet
- Accidental discharge or overflow of water
- Sudden and accidental tearing apart
- Freezing
- Artificially generated electrical charge
*Additional limits for medical payments and liability are available, as wells as optional endorsements for property such as personal computer equipment, business property, jewelry, bicycles, cameras, etc.
Limitations – As with most insurance, our policies have per-category limits for certain items such as jewelry, antiques, and furs. If the value of your property exceeds these limits, you will need to get an appraisal stating its worth. You can then purchase an additional rider to cover the full value of your property.
Liability coverage – Renters insurance also provides liability coverage. Our Renters Insurance policy covers you for accidents and injuries that occur in your home, as well as accidents outside of your home that are caused by you or your property. (This does not include automobile accidents.) The coverage includes legal defense costs, if you are ever taken to court over such an accident.
Additional living expenses – If your house or apartment is rendered unlivable as a result of any covered perils, renters insurance will cover your additional living expenses. This means that it will pay for you to live somewhere else (usually in a comparable house or apartment) while your home is being repaired. The limit on this type of coverage is 40 percent of the amount of your personal property coverage.
Available Endorsements
Replacement Value Loss Settlement Terms – This entails replacing Actual Cash Value for Coverage C with replacement cost coverage. This does not include rare art, memorabilia, items that are in poor condition, obsolete or in storage.
Scheduled Personal Property – This coverage provides a set amount of insurance for valuables like jewelry, watches, furs, fine arts, etc. An appraisal from the previous three years is required for any single item over $2,500.
Coverage C Higher Limits on Certain Personal Property – This coverage increases the overall coverage amounts in areas where a sub-limit of coverage exists.
Computer Coverage – This provide coverage for hardware and software in the event of any direct physical loss due to theft, electrical disturbance, magnetic, or erasure. In other words, this changes the computer coverage only from a "named perils" to "all risks".
All coverage is subject to approval and qualification. Coverage information is intended to be a summary and does not supplement or replace specific language of the insurance contract.
Take a few minutes to get a free, no obligation quote, and see just how affordable our rates can be.
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"Contrary to popular belief, your landlord's insurance does NOT cover your personal property." |
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