Why do I need insurance?

Fire, windstorm, roof leak or burglary can happen anywhere and to anyone. Although you have chosen a safe and secure place to live, your landlord is probably not responsible for damage that may occur to your property.

You could also be held liable for injuries or accidents that happen in your apartment. The policy provides protection, including costs to defend you, if you are accused of accidentally causing injury to someone or damage to someone else's property.

Types of Coverage?

Personal Property:

Your belongings are covered up to the limits you choose against accidental and unexpected damage when certain types of losses happen, called “Perils” in your insurance policy. The policy provides coverage for losses caused by things (perils) such as fire, theft, or water damage from plumbing overflow or roof leaks.

However, not all types of property or losses are covered. For example, the policy does not provide coverage for property you lose or break, or when the damage is caused by flood or earthquake. Also, the policy does not cover motor vehicles, animals, land, or buildings. Some limitations and restrictions also apply, such as special limits for jewelry and certain kinds of collectibles. Please refer to the policy form for details.

If you live in California, you can purchase Earthquake coverage for an additional amount. Your personal property coverage is subject to a maximum amount of $5,000 and a deductible of $750. You are also covered for up to $1,500 of additional living expenses (with no deductible) if you are unable to live in your apartment because of an earthquake.

Additional Living Expense:

When a covered loss (such as a fire) requires you to leave your apartment and stay somewhere else, the policy can reimburse you for those expenses that are above and beyond your normal expenses, such as the cost of staying in hotel or eating meals. Additional Living Expense coverage is paid from your Property Limit and is subject to your deductible. Please refer to the policy form for details.

Is there a deductible?

A deductible is the amount that is subtracted from your covered loss before the policy will pay you.

The minimum deductible for Property Coverage is $250. This amount can be increased to $500 for a reduced premium. The deductible applies to personal property and additional living expenses.

Example: If you have a covered loss of $1,000 and a deductible of $250, then you will be paid $750 (the difference between the covered amount of your loss and your deductible).

Personal Liability:

Personal Liability coverage provides protection, including costs to defend you, when an injured person claims you accidentally caused bodily injury to someone or damage to someone else's property. This type of coverage involves your personal actions and does not extend to auto-related or business-related injury or damage. Personal Liability coverage does not respond to bodily injury or property damage to you or any other insured. Please refer to the policy form for details.

Who's Covered?

Not everyone in your apartment is automatically covered. Coverage is provided to the person or persons named on the policy and their relatives who live in the apartment, including children, spouses, partners (but only if legally married or in a legally recognized civil union) , and parents. The policy also covers any other person under the age of 21 who lives in the apartment and is in the care of any person named as an insured on the policy. If you are sharing the apartment with a friend, boyfriend, girlfriend, or other person, that person is not covered under your policy unless added as an insured on the policy.