Glossary

The declarations page summarizes your renters policy: limits, deductibles, premium and more. What is on it and why landlords ask for it.

Named perils covers only listed causes of loss; open perils covers everything not excluded. Which renters need.

Medical payments coverage pays a guest’s small medical bills regardless of fault. How it differs from liability coverage.

Scheduled personal property, or a floater, insures valuables like rings and cameras for their full value. Why and how to add it.

HO-4 is the standard renters insurance form. What it covers, how it compares to HO-3 and HO-6, and its 16 named perils.

Personal property coverage pays to repair or replace your belongings after a covered loss. What it includes, special limits and what decides your payout.

Loss of use (additional living expenses) pays for a hotel and other extra costs when a covered event makes your rental unlivable.

A deductible is what you pay toward a covered property claim before insurance pays. Examples, what it applies to and how to choose one.