Every year, Green Bay Metro Fire Department responds to fires where the occupants did not have renters insurance. Individuals that do not have renters insurance during a fire/disaster often lose everything. Please take time to read the information below to help protect you and your loved ones.
Important Things to Remember
- If you reside in a rental property, the building owners insurance on the property does not cover the renters possessions. On average, to purchase new possessions after a fire/disaster, it will cost an average of $30,000.00
- If a fire/disaster happens in a residential renters space and the cause of the fire/disaster is due to your negligence, the property owner could take you to court for the damages caused. Renters insurance does include liability.
Types of Policies
There are several types of homeowners insurance policies sold in Wisconsin. They vary according to coverage in the policy and type of dwelling being insured. HOMEOWNER'S FORM 4 (HO4) is specially designed for renters. It covers your personal property for several different types of damage including theft, smoke, vandalism, fire, explosion, falling objects, building collapse, and rupture of steam or hot water systems. There is no coverage for the dwelling as that is the owner's responsibility and should not be insured by the renter.
Coverage will depend on the claim facts, along with policy terms, conditions, and limits. Other possible coverage:
• Personal liability for each occurrence of bodily injury and property damage to others arising out of your negligence.
• Medical payments without regard to fault for injuries occurring in your home to anyone other than you or your family.
• Injuries occurring outside your home if caused by you, a member of your family living with you, or your pet.
• Personal property coverage for your belongings if destroyed or damaged away from your home if the cause is covered by your policy.
• Reasonable and necessary additional living expenses from residing in a temporary location because of damage caused by a covered loss.
For more information, visit the Wisconsin Office of the Commissioner of Insurance: https://oci.wi.gov/Pages/Homepage.aspx