Renter's Insurance
Definition
- A type of property insurance policy that covers the insured for liability, damages to rental property, and damages to personal belongings contained in a rental property. Also known as "tenant insurance."
Synonyms
apartment renter's insurance, condo insurance, apartment insurance, condo renter's insurance, tenant insurance, rental insurance
Related Terms and Acronyms
- Eviction — Definition,
- The act of kicking someone out of a property, usually for violating terms of a lease.
- General Liability Insurance — Definition,
- Insurance that protects individuals and businesses from a number of potential liabilities.
- Insurance (insur) — Abbreviation,
- An arrangement where one party provides financial protection to another party for specific damages or losses.
- Landlord — Definition,
- One who rents or leases his or her property to another person or a business.
- Lease (lse) — Abbreviation,
- A written agreement in which the property owner allows a tenant to use property in exchange for rent, and for a specified period. Or, a written agreement in which a car dealer allows a consumer to use a vehicle in exchange for payments for a specified period.
- Lessee — Definition,
- The person who signs a lease.
- Lessor — Definition,
- The person who grants a lease.
- Peril — Definition,
- Anything that poses a risk of loss, which may or may not be insurable depending on the potential for risk.
- Property Insurance — Definition,
- Insurance that provides coverage for damages to property from a number of perils.
- Rent Loss Insurance — Definition,
- Hazard insurance that pays for a loss in rental value or rental income if damage causes the property to become unfit for habitation.
- Tenant — Definition,
- One who rents property.
