A renters insurance policy is a group of insurance coverages designed to help protect residential or home renters and their belongings against certain risks.

A typical renters insurance policy includes four types of coverage that help protect renters and their belongings after a covered loss:

• Personal property coverage helps pay to replace belongings you keep in your rented home if they are stolen or damaged in certain situations, such as a fire.

• Liability coverage can help prevent you from paying out of pocket if you are found legally responsible for another person's medical bills after they are injured in your home.

• Guest medical coverage helps pay for reasonable and necessary medical expenses—such as the cost of X-rays, medical treatment, or an ambulance—if a guest is injured at your home—even if you're not at fault.

• Additional living expense coverage may help pay for additional costs you incur, such as temporary housing, if your rented home is left uninhabitable by a covered risk, such as a fire.

Renters insurance helps pay to replace stolen belongings, up to the coverage limit stated in your policy. Reimbursement for stolen items may be based on their depreciated value or replacement cost, depending on what type of coverage you select.

Certain valuables, such as expensive jewelry, may have more limited coverage under a standard renters insurance policy. If you have expensive jewelry or valuable artwork or collectibles in your rented home, you may want to add an endorsement or rider to you renters policy to increase the coverage for those personal property items. You may have to get an appraisal of their value to schedule such items for additional coverage on your renters policy.

In Florida, renters insurance policies are designed to provide financial protection for individuals renting a residential property. These policies typically include personal property coverage, which compensates for the loss or damage of personal belongings due to events like theft or fire; liability coverage, which protects renters if they are found legally responsible for another person's injuries on their premises; guest medical coverage, which helps cover medical expenses if a guest is injured in the rental property; and additional living expenses coverage, which assists with costs such as temporary housing if the rental unit becomes uninhabitable due to a covered peril. Coverage limits and the type of reimbursement (actual cash value or replacement cost) for stolen or damaged items will depend on the specific policy. For high-value items like jewelry or art, renters may need to purchase additional endorsements or riders to ensure adequate coverage. It's important for renters to review their policy details and speak with an insurance agent or attorney to understand the extent of their coverage and any additional insurance needs they may have.