Renters insurance is essential insurance coverage to have if you’re renting a home or dwelling that you do not own. Coverage options can vary depending on various factors, but renters insurance primarily reduces the financial impact of sudden or unexpected events that damage your personal belongings or leave you legally liable.
What Does Renters Insurance Cover?
Renters insurance coverages vary depending on factors such as the location of the home or apartment and the associated risks with the place. A typical renters insurance policy might include some of the following:
- Possessions coverage
- Liability coverage
- Additional living expense coverage
These plans can be tailored with additional coverage options such as:
- Scheduled items riders.
- Umbrella liability insurance.
- Flood insurance.
- Earthquake and windstorm endorsements.
- Pet liability insurance.
Does Renters Insurance Cover Damages Caused by Natural Disasters?
Renters insurance typically covers your personal property, such as furniture, silverware and jewelry, if they are damaged or lost in a covered event. Depending on your policy, damages or losses caused by some natural disasters (e.g., hail, fire, rain or hail) may be covered. However, damages caused by flooding or earthquakes may not be covered. Talk to your RCU Insurance Services to learn more about what may or may not be covered under your policy.
Do I Need Renters Insurance?
Renters insurance requirements are typically dependent on the landlord. Landlords will often require tenants to have a renters insurance policy because they do not want to be held liable for damage to tenants’ personal belongings. Additionally, some homeowners’ associations will require a tenant to have a policy. Regardless, acquiring a renters insurance policy is something to consider to limit potential expenses following a covered peril.
If you are a tenant near Santa Rosa, California, the agents at RCU Insurance Services can help you learn more about natural disaster coverage and potential coverages to include in your renters insurance policy. Contact our agency today at 707-576-5115 to learn more.
Learn more about renters insurance.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.