How Does Renters Insurance Payout Work? 
When you report a claim on your renters policy , the company will assign an adjuster to the claim . The adjuster will collect all the necessary data to prepare a settlement of the claim . If the claim is a liability claim , the company will pay for defense costs and judgments up to the limits of the policy . If it is a loss of property , they will normally determine the actual cash value of the items lost and offer that amount minus the deductible as settlement . If you replace the items lost and have replacement cost coverage they will send subsequent amounts to reflect the cost of replacing the items lost . 