The HO-4 renters policy is a combination of property and liability coverage. The HO-4 policy is tailored to meet the needs of a tenant. The following is a basic outline of the HO-4 Renters Policy.

The HO-4 policy provides coverage for a tenant of a single-family residence or a tenant of an apartment. The policy focuses on loss personal property. Coverage for legal liability is also included. The HO-4 policy does not include coverage for the building and other structures because a tenant does not have an insurable interest in the building.

COVERAGE (C) PERSONAL PROPERTY

Coverage C provides worldwide coverage for personal property of the insured. Special limits apply to some types of property and some property is excluded for coverage. Coverage C can be modified in several ways with endorsements.

COVERAGE (D) LOSS OF USE

This coverage applies in the event of a loss under Coverage A.

If the insured was to temporarily lose use of the dwelling this coverage would apply. Payment would be made for expenses incurred to live elsewhere following a loss that makes the residence unsuitable for living.

SECTION II COVERAGE - Liability coverage for personal loss exposures

COVERAGE (E) PERSONAL LIABILITY

The insuring agreement under Coverage E provides liability coverage if a claim is made or suit is brought against an insured because of bodily injury or property damage. Coverage is provided for residence premise. Liability coverage is provided for the named insured and members of the insured household who are relatives. Personal liability has a basic limit of $100,000 per occurrence, which may be increased for an additional premium. In addition to the basic limit, Coverage E also provides additional coverage for expenses such as defense cost, expenses incurred providing first aid to others, damage to property of others and loss assessment charges. The additional coverage provided under section E is subject to limitations and certain conditions.

COVERAGE (F) MEDICAL PAYMENTS

This coverage will pay the necessary medical expenses for bodily injury of others. Coverage applies to accidents that occur on the insured's premise or any other location when caused by an action of the insured. The coverage has a basic limit of $1,000 per person. The insured may select higher limits.

SCHEDULED PERSONAL PROPERTY

The scheduled personal property endorsement is used to provide coverage for risk of direct loss for such items as jewelry, furs, cameras, musical instruments, silverware, golfers equipment, fine arts, postage stamps and rare coins. Scheduled property can be insured for any amount the insured requires.

PERSONAL PROPERTY REPLACEMENT COST

Property loss settlements under the homeowner policy are made on an actual cash value basis. When the replacement cost endorsement is added the loss settlement payment would be sufficient to replace the item for the cost at the time of loss without deductions for depreciation.