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
rental insurance, apartment insurance, tenant insurance, condo renter's insurance, apartment renter's insurance, condo 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.
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