Like homeowners insurance, most renters insurance also covers your personal liability.
Renters insurance doesn’t just insure your personal property. Like homeowners insurance, most renters insurance also covers your personal liability and the personal liability of anybody else designated as an insured person. You’re all insured up to the extent of your policy limits. Personal liability generally extends to property damage and personal injury.
Leaks and flooding from your apartment can result in water seepage from your unit to a unit below you that damages that unit and personal property inside it. Your toilet seal might deteriorate over time and slowly damage the unit below, or bathtub flooding might cause sudden damage to the lower unit. Your renters insurance will ordinarily cover that damage.
If a guest trips and falls over something inside of your apartment, you’re likely covered up to the extent of your policy limits for any liability attributable to you for their medical expenses, lost earnings and even any permanent injury. Other damages are likely covered too. Since the insurer has a contractual obligation to defend and indemnify, your legal fees in defending the claim are paid for by the insurer along with any settlement or verdict up to your policy limits on both property damage and bodily injury.
Medical payments coverage
Most renters policies also provide for medical payments coverage that will pay up to certain limits for injuries sustained in your apartment by guests. Medical payments can be made whether you’re liable or not.
You’ll want to inquire with your agent or insurer to find out exactly what kind of personal liability coverage you have under your renters insurance. Be sure to ask about who is covered by it too. You might even want to increase your policy limits.