Renters Insurance 101: Are Natural Disasters Covered?

​Climate change has made natural catastrophes more severe and frequent, so now is a great time to consider your possible actions if one happens nearby. If anything goes wrong, renters' insurance may preserve your valuables and assist you in financing alternative accommodations.

Covered Disasters by the Insurance 
The majority of renters insurance coverage covers common disasters such as the following:

• Tornadoes
• Fire
• Damage caused by rain
• Hail
• Damage from snow

It recommends that your renters' insurance plan should take effect and reimburse your expenditures if one of the listed disasters causes major harm to your rental home, destroys your belongings, or restricts you from living there. Remember that not all policies provide loss-of-use coverage, so verify yours to see if you'd be compensated for living expenses if a storm or wildfire demolished your residence.

Non-Covered Disaster By The Insurance
Common renters insurance policies like homeowners insurance exclude certain items such as:

• Earthquakes
• Sinkholes

Living in a flood-prone location may be eligible for discounted flood insurance under the National Flood Insurance Program. However, flood insurance may still be too expensive for many tenants. Renters may be disappointed to hear that damage caused by flooding or earthquakes is frequently not covered by a renters insurance policy. 

But, your belongings may be protected by only particular conditions if you do not have separate insurance. For example, if a flood causes electrical damage and a fire, a renters insurance policy would likely cover the personal belongings damaged due to the fire.

Role of FEMA (Federal Emergency Management Agency)
Federal money and loans are made accessible to assist residents of the damaged areas in repairing their homes and making them safe, clean, and functional once again after a catastrophe is proclaimed.

Advantages of Having Renters Insurance 
Why should you purchase insurance if the house you're renting already has it? The landlord's insurance covers the structure and the owner's items, but your belongings, how you use the space, and any potential liabilities on the property that may be your responsibility. A renters policy covers the cost of these charges.

Conclusion
There are increasingly more severe, common, and devastating natural calamities. If you are a tenant who cannot replace all of your stuff or find new housing in the event of a catastrophe, think about getting a complete renters insurance plan. Although some insurance does not cover events caused by natural disasters, FEMA might be able to help you if they harm you.

At AllRisk Auto Insurance, LLC, we put our clients first by offering them policies that they can afford. Insurance is a necessity nowadays, and we're here to help you. Learn more about our products and services by calling our agency at (360) 693-4044. You can also request a free quote by CLICKING HERE. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!