You probably know that tenant insurance can help protect your belongings when you rent a house or apartment. You probably also know that home insurance does not cover doctor’s visits and prescriptions. For this, you need health insurance. However, you may not be aware that in some situations renters insurance can help cover the medical bills of others.
Renters’ insurance generally includes liability protection. Liability insurance generally includes two different types of protection, according to the Insurance Information Institute (III). These covers serve to protect family liability and customer liability.
PROTECTION OF FAMILY RESPONSIBILITY
Family liability protection can provide protection if you or a family member who lives with you accidentally injures someone else and you are legally responsible. If this is the case, you can be held liable for any damage, including medical bills, to the injured person. According to III, family liability protection can help cover these bills.
Even if an accident happens outside of your home, Family Liability Protection can protect you. For example, if your child throws a ball out of a neighbor’s window and someone is injured as a result, family liability protection can help pay the neighbor’s medical bills.
Family liability protection generally does not provide coverage for damage from automobile accidents, according to the United States Institute of Certified Public Accountants. You will likely need liability insurance for this.
The III also indicates that there are restrictions on family liability insurance, meaning there is a maximum amount your policy will pay for a covered event. If you are unsure whether you have adequate family liability insurance, consult your insurance agent.
CUSTOMER RESPONSIBILITY
The III states that tenant insurance generally includes a certain amount of no-fault health insurance for customers. If a guest is injured at your home, this liability coverage allows the injured client’s medical bills to be sent directly to your tenant’s insurance company for payment.
However, customer liability coverage does not cover your own medical bills or the medical bills of people who live with you, says III.
DOES MY OWNER’S INSURANCE PROTECT ME?
Homeowner insurance can help cover medical bills if the owner’s negligence, such as failure to repair a faulty step, results in injury to the tenant or their guests. Typically, the landlord’s insurance policy does not cover tenant liability. So, if a guest in your rental home is traveling on your carpet and sustains an injury, tenant insurance can help cover the resulting medical bills, but your landlord’s insurance probably can’t.
A local representative can help you understand the different types of insurance available to tenants and answer your questions. Then you can continue knowing that certain safeguards are in place for you and your property.
