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.
Tag: RAW
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.