There is a typical mix-up between insurers and policyholders concerning renters insurance disaster coverage. When certain natural elements wreck your rented home, you might immediately look up to your insurance. To your greatest disappointment, you may file a claim and get rejected even without you being at fault.
So what renters insurance disasters coverage are we looking at? Keep reading to learn about the natural disasters your renters insurance covers and those it doesn’t.
What Disasters Do Renters Insurance Cover?
Most renters insurance policies cover tornadoes, flames (including wildfires), rain damage (but not floods), hail damage, and snow damage. If one of the covered disasters causes enough damage to your rental house, you can get coverage. Once these disasters destroy your belongings or prevent you from relocating, your policy should kick in and pay your losses.
Remember that not all policies include loss-of-use coverage. Hence, check yours to see if you’ll get compensation for living expenses if a storm or fire ruined your apartment. If you live in areas where frequent wildfires, tornadoes, or hurricanes, full loss-of-use coverage should be in your policy.
What Disasters Don’t Get Coverage from Renters Insurance?
Unless you expressly request it, standard renters insurance policies, like homeowners insurance, do not cover floods. Many don’t also cover earth movements like earthquakes and sinkholes.
If you live in an earthquake-prone area, earthquake insurance could be too expensive. The National Flood Insurance Program may be able to help you get flood insurance at a discounted cost. This body can assist you if you live in a flood-prone area. However, they may be expensive, and many renters may be unable to afford them.
In conclusion, remember that your policy won’t cover all disasters, so don’t skim through with confidence. Look at your situation closely and determine if getting extra protection as riders is necessary.
