I don't have much to protect, so I don't need insurance...
We hear this a lot. Don't leave yourself in a vulnerable position. You have more stuff to insure than you realize, and a Renters Policy covers more than just your possessions.
What is covered by my Renters Policy?
Your policy provides coverage for:
- Your personal property such as furniture, clothes and other belongings
- Extra expenses resulting during a claim
- Damages you become legally liable for, as well as legal fees associated with a claim
- Medical payments you may owe to someone else
Additional coverages in this policy:
- Debris removal
- Temporary repairs to protect from further damage
- Fire department service charge
- Property removed
- Credit card, fund transfer card, forgery and counterfeit money
- Loss assessment
- Collapse
- Glass or safety glazing material
When am I covered?
Your Renters Policy covers your contents for the following perils*:
- Fire and lightning
- Windstorm or hail
- Explosion or smoke
- Riot or civil commotion
- Vehicles (including aircraft)
- Theft, vandalism or malicious mischief
- Falling objects
- Weight of ice and snow
- Accidental discharge or overflow of water or steam
- Sudden and accidental tearing apart, cracking, burning or bulging of water heaters & air conditioning units
- Freezing of plumbing
- Sudden and accidental damage from artificially generated electrical current
* Unless specifically excluded in your policy
Note: Your deductible is not paid out of pocket, but deducted from the total amount paid for a claim.
Limits of Liability
The following items have special limits in your policy:
- Money
- Securities
- Watercraft
- Trailers
- Grave Markers
- Jewelry
- Watches
- Firearms
- Silverware
- Furs
- Precious Stones
- Trading Cards
- Electronic Apparatus
- Motor Vehicle Parts
- Business property (on and away from the residence)
Your agent can help determine if the limits provided are appropriate for your situation.
Optional Endorsements
- Watercraft Liability
- Sports Vehicle Liability
- Personal Property Replacement
Replacement Cost Coverage
For your contents:
You can receive up to the amount it costs to replace your damaged items (limits apply).
Requires purchase of the Personal Property Replacement Endorsement. Talk to your agent about depreciation.
Discounts
- Affiliation Discount
- Claim Free
- Senior Citizen
- Multi-Policy Credit (With Auto or Umbrella)
- Smoke Free
- Loyalty
Upgrade with the Pioneer Renters Advantage
It’s a package of coverages providing great value for a low rate, including:
- Home Cyber Protection ($25,000)
- Increase of Theft from Self-Storage Unit limit to $5,000 total
- Personal Property Coverage Enhancements
- Building Alterations/Additions Coverage
- Refrigerated Products ($500)
- Fire Department Service Charge ($500)
Did you know?
If your car is parked in a public parking lot and your contents are stolen, those contents would be covered under a Renters or Homeowners Policy -- but not under a Personal Auto Policy.
Examples of real claims
A rapid fire destroyed sixteen units in two apartment buildings. A Pioneer policyholder lost all of his personal property in the fire. Within eighteen days of the loss, the insured was permanently relocated by the complex and his claim was settled for his contents for about $10,000.
A Pioneer policyholder renting an apartment had an ongoing roof leak. She was unaware of the leak and after a rain storm, her apartment ceiling collapsed. Debris landed all over the living room damaging her furniture, TV and computer. Her landlord handled the structural repairs but let her know they were not responsible for her contents. The apartment was unlivable for a week during the structure repair process so she had to stay in a hotel. Additionally, some of her furniture had to be cleaned and there was damaged property which had to be repaired or replaced. The total of the claim, including Additional Living Expenses of the hotel was around $3,000.
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This brochure is intended to be a broad summary of the insurance coverages provided by a Renters policy. The information here is subject to policy terms and exclusions, and does not replace your policy language. Read your full policy carefully and ask your Independent Insurance Agent if you have specific questions.
Learn more about renters and homeowners insurance with Pioneer State Mutual.