Which Coverage Can I Add to My Renters Insurance Policy?

Renters Optional Coverage

Customizing your policy according to your requirements is just smart. With the right optional coverages, your Renters Insurance coverage becomes the safety net against unforeseen events.

 

Property related coverage

Secure your assets with comprehensive coverage and protect them against the unexpected.

 

What is personal computer equipment coverage?

Personal computer equipment coverage is an endorsement that specifically addresses the costs coming from recreating or restoring lost, corrupted, or destroyed data in your computer. The recovery process may imply a financial loss or specific resources to replicate or recover, this coverage can protect you from it.

 

This coverage is key when you need to protect important documents, software, digital photos, or essential business information that is kept in storage devices or computers and can get compromised.

 

 

What is personal cyber protection?

Personal cyber protection is an endorsement designed to give financial compensation and recovery assistance in the event there’s a cyber threat or incident. It helps to mitigate the personal and financial consequences one can have when being targeted by cybercriminals in an increasingly connected world.

 

It typically covers a wide range of digital risks such as online fraud, data breaches, and cyber extortion. It offers services such as credit monitoring, legal advice expenses, and reimbursement for stolen funds.

 

 

What is equipment breakdown coverage?

Equipment breakdown coverage, also known as home system protection, is an add-on that protects you from potential mechanical accidents or electrical failures of appliances at your home when you’re renting.

 

This includes refrigerators, HVAC, and electrical systems, among others. By protecting them, you will cover repair or replacement expenses in the event they break down, get damaged, or suffer any other covered loss.

 

 

What is food coverage?

Food coverage is an endorsement in your Renters Insurance policy specifically designed to protect you in case there is a power outage or appliance failure at your home. It covers the expenses of lost groceries.

 

This coverage will reimburse you for the cost of spoiled food, ensuring that a qualifying incident doesn’t leave you bearing the full financial burden of restocking your fridge or pantry.

 

 

What is unscheduled personal property coverage?

Unscheduled personal property coverage is an extra layer of protection in case your personal property gets damaged or lost. This endorsement offers a higher coverage limit and a broader scope of protection for unitemized or new possessions.

 

The age and the condition of your stolen or damaged value are key. This will determine the depreciation cost and how much you can be reimbursed for it. The bigger the extension (a more expensive premium), the higher the protection you’ll receive.

 

 

What is unscheduled jewelry coverage?

Unscheduled jewelry coverage is a specific policy designed to protect your jewelry against loss, theft, or damage without priorly listing every item individually. This is a set coverage included on your Renters Insurance policy where there’s a specific limit to help you cover lost, stolen, or damaged valuable assets.

 

It has a lower limit than if they were individually scheduled because it offers a total limit coverage including all your assets.

 

 

What is scheduled personal property coverage?

Scheduled personal property coverage is an enhanced feature designed to protect each valuable item you own in your home. This coverage has a prior list of every valuable asset you have and gives customized protection in the event they are stolen, damaged, or lost.

 

This protection will help you rest assured when having valuable assets like jewelry, electronics, or fine arts that you want to individually keep safe and secure. By listing and valuing your possessions, you will have enhanced coverage for each item and get them covered from potential perils.

 

 

What is superior home protection?

Superior home protection is an enhanced policy designed to offer more comprehensive protection. It provides renters with advanced coverage options that may include higher limits on personal property, additional living expenses, and liability coverage to ensure a higher level of security.

 

This endorsement is ideal either if you’re renting a high-value home and want to keep it secure, or if you’re the type of tenant seeking more comprehensive coverage.

 

 

What is preferred theft coverage?

Preferred theft coverage is an enhanced option that offers broader protection against theft. It’s an extension to what’s included in our standard Renters Insurance policy and has higher coverage limits for stolen items.

 

It may also include protections for scenarios that standard policies do not cover, potentially with fewer restrictions or lower deductibles. It is often available as an endorsement to tenants seeking additional peace of mind for their valuable possessions.

 

 

What is earthquake coverage?

Earthquake coverage is an endorsement specifically designed to protect your personal belongings in case a seismic event takes place. Earthquakes are unpredictable and can be destructive. By choosing this optional coverage you will be protecting both your assets and your finances.

 

Imagine you lose all your stuff in an earthquake, the cost of replacing and repairing your personal belongings can be a huge financial burden. With this endorsement, you’ll be safeguarding yourself from these unexpected events.

 

 

Liability related coverage

Explore our wide range of liability-related endorsements designed to offer you more robust protection on your Renters Insurance coverage.

 

What is animal liability coverage?

Animal liability coverage is an endorsement that provides protection in case your pet causes bodily injury or property damage to someone else. While we love our furry friends, accidents can happen, and this coverage helps cover the medical expenses or property repairs resulting from such incidents.

 

 

What is personal injury coverage?

Personal injury coverage is an endorsement that provides additional protection beyond the standard liability coverage in your Renters Insurance policy. While liability coverage typically covers bodily injury or property damage caused to others, this includes non-physical harm or emotional distress caused by you.

This coverage includes legal expenses, settlements, or judgments if you are found legally responsible for personal injury, such as defamation, invasion of privacy, or wrongful eviction. It’s important to note that personal injury coverage usually has specific limits and exclusions, so it’s essential to review your policy and consult with an agent to ensure you have the right coverage for your needs.

 

 

What is identity theft coverage?

Identity theft coverage is an endorsement on your Renters Insurance policy that provides support and financial reimbursement when you are a victim of identity theft. Either by required resources or the recovery process itself, it helps you cover those expenses.

 

These associated costs could come from reclaiming your financial identity, legal fees, lost wages, or any related to paperwork or mailing. You may also need guidance to restore your personal identity, this coverage helps you cover these expenses too.

 

 

What is enhanced medical payment coverage?

Enhanced medical payments coverage is an extra layer of financial protection designed to cover medical bills, or have quicker settlements when someone gets injured at your place or you’re responsible for it while being a tenant.

 

This coverage provides a broader limit on your coverage for the medical expenses you may have to pay in the event of a covered loss.

 

 

What is increased personal liability coverage?

Increased personal liability coverage is an insurance option that boosts the existing liability limit on your Renters Insurance policy. It provides a higher level of financial protection in case you are found legally responsible for causing injury to others or accidentally damaging their property.

 

This coverage also provides enhanced protection on the costs of legal defenses, settlements, or judgments. When choosing this extension, its limit will be strictly related to your potential exposure to risk.

 

 

What is watercraft liability coverage?

Watercraft liability coverage is an endorsement that provides an extra layer of protection if you’re held responsible for bodily injury or property damage to a watercraft. It helps cover legal costs, settlements, and medical expenses.

 

This endorsement protects you from incidents you can cause to others in covered perils involving a boat or a personal watercraft you own, maintain, or use.

 

 

Where Does PSIC Offer Renters Insurance?

We currently offer Renters Insurance in the states of Arizona, California, Connecticut, and New Jersey. To learn more about how you can customize your policy please select your state.

 

We plan to expand our Renters Insurance coverage nationwide soon, ensuring all tenants the benefit of our reliable insurance solutions.