As a tenant, it’s important to protect your personal belongings from unexpected events like flood damage. However, many people are unsure if their renters insurance covers flood damage. In this blog post, we will explore the topic to help tenants understand what their insurance policy covers.
Renters insurance policies typically do not cover flood damage. Flood damage is a separate type of insurance and requires a specific flood insurance policy. Tenants can purchase a separate flood insurance policy to cover the value of their belongings in the event of flood damage.
So what exactly is considered flood damage? Generally, flood damage is water damage that occurs from rising water levels, such as those caused by heavy rain, storm surges, or overflowing rivers or lakes. Renters insurance typically does not cover flood damage. Some renters insurance policies may cover water damage that results from other sources, such as burst pipes or leaky roofs. In these cases, the damage would need to be caused by a sudden and accidental event rather than a natural disaster.
Review your renters insurance policy and speak with your insurance agent to understand your protections. Your agent can explain coverages you have on your renters insurance policy and recommend additional policies you may need to fully protect your belongings.
In conclusion, you may wonder if renters insurance covers flood damage. The answer is generally “no”. To protect your belongings from flood damage, you will need to purchase a separate flood insurance policy. It is important to review your renters insurance policy to understand the types of damage covered. Ask your insurance agent questions to fully understand your coverages. If you purchase your renters insurance policy through Renters Insurance Wizard, be sure to inquire about flood insurance. Being proactive and ensuring that you have the right insurance coverage will give you peace of mind. Protecting your belongings from unexpected events is a good thing.