Which kind of homeowners policy is best suited for someone renting an apartment?

The best type of homeowners policy for someone renting an apartment is the HO 4 policy, also known as a tenant's policy. This type of insurance is specifically designed to cover individuals who do not own the property they occupy but still want to protect their personal belongings. The HO 4 policy provides coverage for personal property against certain risks, such as theft or damage, and also includes liability protection, which is crucial for renters to guard against claims made by others in case of an accident.

Unlike other policies, the HO 4 does not cover the physical structure of the building, as this is the responsibility of the landlord’s insurance. Instead, it focuses on the renter’s personal items and any improvements they may have made to the rented space, making it the most suitable option for tenants.

Other homeowners policies like the HO 3 or HO 2 are geared towards homeowners who own the structure and seek to insure both the building and their personal property. The HO 6 is tailored for condominium owners, providing structure coverage as well as personal property coverage. Therefore, these policies do not meet the specific needs of someone simply renting an apartment.