Define: Renter’s Insurance

Business, Legal & Accounting Glossary

Definition: Renter’s Insurance



Advertisement



Full Definition of Renter’s Insurance


Renter’s insurance indemnifies a tenant against various losses. Various types of renter’s insurance policies can either cover only named perils, such as flood or earthquake or lightening, or all perils. Common renter’s insurance coverage levels include cash value and replacement cost value. Another type of renter’s insurance is liability coverage, which can indemnify the policyholder for the injury of a guest due to an accident within the rental. Renter’s insurance is similar to homeowner’s insurance but does not compensate the landlord in the event the rental property is damaged. Factors that influence the premiums for a renter’s insurance policy are the coverage type; the amount of loss covered; the deductible for any loss; and the structure’s age, type, and location.


Advertisement




Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/renters-insurance/
Modern Language Association (MLA):
Renter’s Insurance. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. April 07, 2020 https://payrollheaven.com/define/renters-insurance/.
Chicago Manual of Style (CMS):
Renter’s Insurance. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/renters-insurance/ (accessed: April 07, 2020).
American Psychological Association (APA):
Renter’s Insurance. PayrollHeaven.com. Retrieved April 07, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/renters-insurance/

Definition Sources


Definitions for Renter’s Insurance are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 6th February, 2020