West Virginia Property and Casualty Licensing Practice Exam

HO4 coverage, also known as renters insurance, is specifically designed to cater to the needs of renters and tenants. This type of policy provides protection for personal property within a rental unit, covering loss or damage due to risks such as fire, theft, or vandalism. Additionally, it often includes liability protection, which covers legal and medical expenses if someone is injured while on the rented property.

In contrast, homeowners typically require a different type of insurance, such as an HO1 or HO3 policy, which covers the structure of the home itself as well as the homeowners' personal property. Unit owners often need condo insurance (HO6), which covers personal property and the interior structure of their unit, while landlords require commercial property insurance to protect their investment and the building itself. Renters insurance focuses on the unique circumstances and needs of individuals who do not own the property they live in, making it specifically suitable for tenants.