Standard Renter’s Insurance Doesn’t Cover Floods

3/9/2020 (Permalink)

Having renter's insurance in Christiana, GA can certainly add to your peace of mind

Standard Renter’s Insurance Doesn’t Cover Floods

Having renter's insurance in Christiana, GA can certainly add to your peace of mind. It’s nice to be covered in case of an incident, but you should be aware of the exclusions and deductibles your policy has.
A standard policy will usually cover most major types of loss, including

• Fire
  
• Theft
  
• Vandalism
  
• Storm damage
  
• Explosions
  
• Smoke damage
  
  

Each company will offer different coverage, premiums, and deductibles. For instance, a renter's insurance policy may – or may not – cover identity theft if your ID or credit cards were stolen from home. Most will cover liability if someone is injured on the premises, such as the infamous slip-and-fall lawsuit.
However, virtually no standard policy will cover flood damage. Some companies can offer riders that will cover floods, but they must be specifically asked for. Usually, the best rates are found through the National Flood Insurance Program (NFIP), but not in every case, so it’s best to shop around and check a few insurance companies.

Flood Insurance Isn’t Just for Homeowners

Homeowners who are allowed to build within the 100-year flood plain are often required to get flood insurance coverage if they have a mortgage. However, anyone who owns property in participating communities, including personal property, can get coverage through the NFIP.
In any case, if your home does suffer a loss, such as a flood, fire or theft, your landlord won’t be responsible for the damage to your personal property unless serious negligence is involved. Also, flood insurance may pay for the additional costs associated with a forced move, including hotel bills and getting into a new rental. Some coverage will even include items stolen from a vehicle parked at the rental. Each policy has different payout caps and deductibles, but it’s usually relatively easy to find a renter's insurance policy that matches your needs.
If you have a flood that impacts your rental in Christiana, GA, contact the property managers immediately. You’ll need a storm damage cleanup company to get there as soon as possible to tarp and board exposed areas – a key step to preventing further losses for you and your landlord.