ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Renters insurance protects tenants from the costs of unexpected personal property damage, theft and legal liability.

Detailed explanation-2: -The liability coverage included in a homeowners, condo or tenant insurance plan protects you financially if you unintentionally cause bodily injury or property damage to others-at your home or anywhere in the world.

Detailed explanation-3: -Renters insurance (sometimes referred to as “tenant insurance") helps cover unexpected events-otherwise known as covered perils. You may not always be able to prevent certain situations, such as theft, a break-in or a visitor’s injury, and that’s where renters insurance comes in.

Detailed explanation-4: -Renters insurance is an insurance policy that can cover theft, water backup damage, certain natural disasters, bodily injuries and more in a rented property. If you rent an apartment, home or even a dorm, renters insurance is recommended for protecting your space and belongings in the event of a covered accident.