Renters Insurance Coverage
A Florida renters insurance policy can protect you from unforeseen perils such as fire, theft, water damage, and wind damage. Renters insurance provides financial protection through four main types of coverages:
Personal Property Coverage: If personal belongings are damaged or destroyed in a covered peril such as fire, theft, or storm damage, Florida renters will be reimbursed by their insurer for the cost of replacing these items up to policy limits.
Personal Liability Coverage: Protects in case of a liability lawsuit against you resulting from a situation where you may be held responsible for injury to another person or damage to another person’s property. Liability coverage will cover the costs of an injury to others or, if you’re sued, it’ll cover the cost of your legal defenses if you’re at fault.
Additional Living Expenses (ALE) Coverage: Provides a place to live if your home becomes uninhabitable. ALE will cover expenses if Florida renters are unable to live in their rental home or apartment due to a covered event. Coverage is for costs above and beyond normal expenses. ALE is also referred to as loss of use coverage.
Medical Payments Coverage: Covers a limited amount of medical costs if a guest is injured on your property.