4 Major Disasters That Renters’ Insurance Covers

Posted on 3 May, 2023

Renters’ insurance is vital when renting a living space for any period to protect yourself from liability. Additionally, it could save a headache down the line. Renters are free of the obligations for property taxes, homeowners’ insurance, and most home maintenance costs. Unfortunately, many renters overlook the importance of renters’ insurance.

The Importance of Renters’ Insurance

A landlord’s insurance coverage only protects their financial interest in the property and belongings. Anything you own requires your own renters’ policy to protect. Before signing that lease, you should understand the significant disasters a renters’ policy covers.

It Covers Tornado Damage

Even the lowest-rated tornados can cause significant property damage, including damage to anything you have stored outside. An EF2 or worse can cause extensive damage to the structure of the home and your belongings inside. Your renters’ insurance policy covers damage to your belongings due to these storms.

It Covers Fire Damage

Residential fires proliferate, fully engulfing a home within a matter of minutes. As a renter, you must understand that renters insurance coverage will apply to any losses you suffer due to a fire in your rental home.

The Policy Covers Rain and Hail Damage

It is easy to underestimate the damage that hail can cause. It can damage items you store outside, and it could break a window as well. Rain damage can create leaks and water damage inside your roof. Your renters’ insurance policy should cover rain and hail damage, though flooding damage typically faces exclusions. Flood insurance is a separate policy.

It Covers Snow Damage

With extreme weather becoming more frequent, significant snowfalls and blizzard conditions are more common. Snow can add significant weight to the roof, which may exploit any vulnerabilities already there. It can cause leaks and physical damage to your belongings inside the house. While your landlord’s property coverage applies to the structural damage, your renters’ insurance policy covers your belongings.

Renters’ Insurance Coverage Exclusions

Although a renters’ policy covers your belongings, it will not cover your extra living expenses after a loss. For example, if a fire damages your rental and you stay in a hotel or a short-term rental during the repairs, that cost is not part of a standard rental policy. Loss-of-use coverage is a rider designed for this purpose. You can also receive accommodation coverage if you include a loss-of-use rider for your policy. At the same time, your rental is uninhabitable due to any covered loss, including a fire.

Most policies exclude earthquake damage, pest infestations, and sinkholes. It also does not cover anything in the house that does not belong to you, including your roommate’s belongings or your landlord’s tools. Renters’ policies exclude appliances, such as the stove and refrigerator, because those are fixtures. If you purchased the appliances, talk with your carrier about coverage options.

Policy riders can expand your coverage for these valuable items you own. Renters’ insurance policies have limited per-item coverage, so any high-value jewelry or artwork needs its own rider. Comprehensive coverage makes a difference in your financial protection.

About Byrnes Agency

At Byrnes Agency, we offer insurance solutions that can be tailored to meet your specific needs. Whether you’re looking for personal policies or commercial coverage, we have the right coverage for you. To learn more about our products, contact us today at one of our two locations.

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Dayville Office

Phone: (860) 774-8549

394 Lake Rd

Dayville, CT 06241

United States

info@byrnesagency.com

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Phone: (860) 886-5498

6 Consumers Avenue

Norwich, CT 06360