Does Renter's Insurance Cover Accidental Damage?

Liability coverage is a key element of renter's insurance policies. This component includes protection if someone else is in your home and you or a family member damages their property. For instance, if someone brings over a new video system and it is accidentally broken, your renter's policy might cover the cost to repair or replace the system.

More commonly, your renter's policy typically covers accidents that occur in the home that damage the property. If you leave a candle burning that starts a fire, your renter's plan normally covers the costs of the repairs. In fact, your plan may cover the repair costs to neighboring units in an apartment building. Some policies even pay for you to stay at a hotel while your home is repaired if the damage is extensive enough.

One of the main reasons to get a renter's insurance policy is to protect your valuables. In fact, renter's insurance is usually your best insurance for your own furniture and valuables. If your valuable are damaged, your renter's policy normally pays for the replacements or repairs. In many cases, your plan even covers damage to personal items you take with you on a trip or away from home.

The key words in a typical policy are "unintentional" and "accidental." Naturally, if you intentionally cause damage to property, your policy usually doesn't provide benefits. The good news is that your policy even extends beyond accidents where you cause damage to others outside the home. Parents of active kids often get stuck in a tough stuff when a neighbor's window is broken or other property is damaged. Your renter's insurance policy usually helps out in these situations as well.