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Do Renters Policies Cover Fire and Flood Damages?

Do Renters Policies Cover Fire and Flood Damages?

It is important that when you get renter’s insurance that you are aware of all the coverage you are getting. Make sure that it meets your standard and you will be able to use it. More often than not there are two big types of damages that people are more worried about. These damages are the ones that are caused by fire or flood. Does your renter’s policy cover these damages, and if so how far can they help you go? You need to know how to properly react in these situations and your renter’s policy will point you in the right direction. Fire and flood should not cause you harm, and make sure your coverage can back you up.

Fire Damage

When you get renter’s insurance you are covered by any damage that is done by fire. This includes any loss of possessions. Make sure that you are taking steps to protect yourself from fire by watching out for flammable items, or bad wiring. Having this protection does not give you an excuse to become lazy about it. One thing you need to know is whether or not your landlord has some coverage. Usually the landlord’s policy will cover damage done to the exterior of the building. If this is the case then a fire on the exterior will not be a factor in your renter’s policy. This is why it is a good idea to know how your plan and theirs will work together.

Flood Damage

We all know that floods are different from fires, so they must be treated differently with your renter’s insurance. Do not count on basic renter’s policies to cover any flood damage. If you are worried about floods or you live in a high flood area then you will need to check out extra coverage in order to protect you from this. The reason that flood coverage does not come standard is because not all places in the country need it. Plus, flood insurance can be expensive, and not everybody should have to take on that expense. You need to do your own research and make sure you get flood protection if it is what you need. You do not want to assume it is covered in your original policy, because that might be a rude awakening.

Open the Lines of Communication

These two damages are exactly the reason why you need to communicate with your renter’s insurance agent. Know how you should treat fire damage, as well as if there is a special claims process that you will need to go through. You also want to communicate with your agent about flood insurance. Get an idea of how much it will cost, what it will protect you from, and how the claims process can go. It is no good to have flood coverage if you do not know how to properly use it. Read through everything before you sign on with a policy. That is just for your protection.

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