Insurance Glossary

Renters Insurance

Property

Definition

Insurance coverage for tenants that protects personal property and provides liability coverage, but does not cover the building structure.

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Related Terms

Homeowners Insurance
Insurance coverage that protects your home and personal property against damage, theft, and liability claims.
Liability Coverage
Insurance that covers legal responsibility for injuries or damage caused to others or their property.
Accident Insurance
Insurance coverage for unforeseen bodily injury resulting from an accident.
Actual Cash Value
The repayment value for indemnification due to loss or damage of property; in most cases it is replacement cost minus depreciation.
Depreciation
The decrease in value of property over time due to wear, tear, age, or obsolescence.
Replacement Cost
The cost to replace damaged or destroyed property with new property of similar kind and quality, without deduction for depreciation.
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