Many would agree that renters insurance is a wise investment for a relatively small price. However, as a renter, you should familiarize yourself with the items and scenarios where renters insurance wouldn’t provide coverage. Renters insurance covers any things. You are covered in the event of theft, some natural disasters, vandalism, and damage to your personal property. However, it’s best to read between the lines when it comes to what’s not covered under a renters’ insurance policy.
Natural Disasters that Aren’t Covered
Although renters insurance covers damage from natural disasters like fires, volcanic eruptions, wildfires, and tornadoes, it doesn’t cover damage to your belongings caused by floods, earthquakes, and sinkholes. Many natural disasters are covered under a renters’ insurance policy, but it is important to ask if you have specific concerns about coverage when it comes to natural disasters.
What Else isn’t Covered?
Damage from insects and rodents isn’t covered and your roommates’ belongings won’t be covered by your renters’ insurance policy. Also, damage to the exterior of your rental property wouldn’t fall under a renters’ insurance policy either. These are the details that renters should be aware of because there may be a need to purchase more insurance to meet a specific coverage need. Although theft is covered for items that may be stolen from your car, damage to your car itself wouldn’t be covered.
Renters insurance covers many things, even spoiled food, but it is important to read the fine print and fully understand your coverage. Our team would be honored to help you navigate understanding renters insurance and choosing a policy that suits your situation. Our team at the Access Legacy Insurance Group of Brooklyn, NY is committed to educating our customers on the ABCs of renters insurance and how a standard policy works.
