Refers to protection of either a landlord’s rental income or an owner-occupant’s economic stake in use of the subject structure. Either interested party can obtain coverage by way of an Insurance Services Office business income form.
Insurance Encyclopedia
Rental Value Loss
The loss of the cost of equivalent premises if an owner-occupant or a tenant cannot occupy a building that was damaged, destroyed or taken less any contract rent that may be discontinued.
Rental-Value Insurance
Consequential coverage that insures the loss of rents in the event of the destruction of the insured property.
Renter’s insurance
Insurance policy that gives coverage for a dwelling occupied by a renter that gives coverage against explosion, fire, hail, riot/civil commotion, theft, vandalism, volcanic eruption, windstorm, and accidental discharge of steam from a heater.
Renter’s Policy
A package type of insurance that includes coverage similar to a homeowner’s policy to cover the personal property of a renter or tenant in a building.
Renters insurance
Term for insurance for the nonowner occupant of a dwelling or apartment. Also known as tenants insurance.