Tenants live in non-owned habitational spaces. The lack of ownership by the insured means there is no dwelling structure to be insured. The lease may be in writing or verbal and may be short term or long term.
The major causes of loss are fire and theft. Important considerations include the type of building construction, the location of the building, and the number of tenants. Security of the building is important as is the security to the insured's particular unit.
Coverage depends on the value of contents (furniture and appliances) as well as personal property such as jewelry, furs, fine arts, electronics, and other items. Appropriate safeguards should be in place and a current appraisal available to substantiate any loss. An inventory and picture record is important to document the existence and aid in recovery.
Personal liability exposure exists via the members of the household (including pets) and conditions related to the insured premises. The age of any children, the type and breed of family pets, the social and civic organizations the family participates in can all impact the loss potential.