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Western Property Management, Inc.

Basic Insurance Information

*Western Property Management, Inc. requires all Tenants and Homeowners to carry active insurance at all times. Due to this requirement we are providing basic insurance information on our site for review. Please consult your insurance carrier, as each policy is based on individual needs. These guidelines may not apply to you.

What Does Homeowners Insurance Protect Against?

Generally, homeowner’s insurance will cover replacing your home and personal property up to certain limits. Most disasters are covered, but not earthquakes or flooding, and homeowner’s policies do not cover the normal aging of your house. Homeowner’s insurance also may include liability coverage, which covers personal injuries to other people that happen due to your negligence.

Policies will provide coverage for:

  • Damage to your home and other structures on your property, such as a garage, deck or swimming pool.
  • Loss or damage to your personal possessions, wherever they may be kept.
  • Loss of use. This will help pay the cost of additional living expenses incurred when your home is damaged and isn’t inhabitable until repairs are made.
  • Coverage of bodily injury to persons injured on your property or whose possessions are damaged on your property.
  • Medical payments for injuries that occur in an accident on your property or, under limited circumstances, off your property. For example, if you are supervising your child’s friends on a beach outing and one of them is injured, you might be sued for negligent supervision. If you are found liable for the child’s injuries, your homeowner’s insurance policy might provide coverage to pay for the claim.

On the declarations page provided by your agent, and within your policy, you will see the various coverage types identified as follows:

  • Coverage A – Damage to your home.
  • Coverage B – Other structures such as a garage, deck or swimming pool.
  • Coverage C – Loss or damage to your personal possessions.
  • Coverage D – Loss of use coverage.
  • Coverage E – Personal liability to third parties.
  • Coverage F – Medical Payments to third parties.

What Does Renters Insurance Protect Against?

Renters insurance provides financial reimbursement to cover a tenant’s lost or damaged possessions as a result of

  • Fire.
  • Theft.
  • Vandalism.
  • It also covers a tenant’s liability in the event that a visitor is injured on the premises.

Whether the renters insurance or the landlord insurance pays for the costs associated with the injury will depend on the circumstances of the incident, the location on the premises where the injury occurs, and who is at fault.

Renters insurance can also provide compensation for:

Alternative living arrangements in the event that your rental unit or rented home becomes uninhabitable due to storm damage or an apartment fire.