The owner of a property is responsible for carrying insurance that covers damage to the building and General Liability coverage for himself.
The renter is responsible for purchasing coverage that includes General Liability and Personal Property coverage for himself and his own possessions. This includes any and all personal property such as clothing, furniture, televisions, stereos, etc.
An HO-4 is a package policy that is usually to the owner’s advantage to purchase. It includes general liability and personal property coverage, medical payments to others, and additional living expense. We have numerous companies that are very competitive in this market. If you are renting from someone or own the property, this coverage should be considered a necessity. You need this from a potential liability stand point and from a possible loss or damage to property.