What does HO-4 specifically cover?

HO-4, commonly referred to as renter's insurance, specifically covers personal property for individuals who rent their living spaces. This type of policy is designed to protect renters from losses due to risks such as theft, fire, and certain types of water damage, among other covered perils. It does not provide coverage for the building itself or any structures that the renter does not own; instead, it focuses on the tenant's personal belongings within their rented unit.

This is distinct from other forms of homeowners insurance, like HO-3 or HO-5, which cover the dwelling and other structures on the property. Options regarding common areas or open perils do not apply directly to HO-4; while open perils can be an aspect of certain policies, the core purpose of HO-4 is to protect the renter's personal possessions against specific risks. Thus, the focus of HO-4 remains on personal property for renters, making it essential for anyone leasing a property to consider this type of coverage for financial protection against potential losses.