PERSONAL PROPERTY (COVERAGE C): This covers your personal property, which is not covered by the insurance policy of the owner of the apartment building or rental house for which you rent. This amount can be endorsed to have replacement cost coverage.
LOSS OF USE: This covers expenses associated with additional living expenses away from home if you can not live there due to damage from fire, storm or other insured disaster, up to your policy limit. It covers hotel bills, restaurant meals, and other living expenses while you are displaced.
REPLACEMENT COST COVERAGE: This covers your personal property for the amount it will cost to replace it, with a comparable one, without deducting anything for depreciation.
ACTUAL CASH VALUE COVERAGE: This covers your personal property for its actual cash value, applying deductions for depreciation of the property by age and condition.
PERSONAL LIABILITY: This covers damages which the insured is legally liable for up to the policy limit. Personal liability covers if you start a fire and cause damage to the rental property. Your personal liability follows you.
MED PAY: The medical payment coverage works when someone is hurt in your rental thru NO negligence of your own (ex. tripped and fell), med pay will pay for medical bills only, up to the limit on the policy. It will NOT cover the insured or any resident of the household.