Renters insurance covers many things but when it comes to nature we are always a little worried. Does renters insurance cover hurricane damage? Will you be reimbursed if your home is damaged and need to stay somewhere? Today we are going to explore this subject and give you the information that you need to know about this important issue. As it turns out, renters insurance is going to take good care of you but it is not all-inclusive coverage. We'll explains the exception to you so that you can be prepared. Without further ado, let's talk about the finer points of your renter's insurance when it comes to the mighty hurricane and the awful things that it can do.
So, Is Hurricane Damage Covered by My Renters Insurance?
Does renters insurance cover hurricane damage? Well, yes and no. The problem lies in that your insurance coverage is geared towards specific parts of a storm, rather than the whole thing. So instead of thinking of it as a hurricane, from an insurance perspective, you would think about it like this:
•Is there damage caused by flooding?
•Is there damaged by the wind?
•Do we have fire damage?
Things like wind, fire, or even lightning are generally going to be covered. Flooding, however, is a little bit different. Flooding is usually NOT covered by renters insurance and this is an important fact to know. If you live in a hurricane-prone area then you will want to prepare accordingly by purchasing a contents-only insurance policy specifically for floods. Otherwise, should the worst occur, you are going to be highly unlikely to recover this (often large) portion of your damages.
•Is there damage caused by flooding?
•Is there damaged by the wind?
•Do we have fire damage?
Things like wind, fire, or even lightning are generally going to be covered. Flooding, however, is a little bit different. Flooding is usually NOT covered by renters insurance and this is an important fact to know. If you live in a hurricane-prone area then you will want to prepare accordingly by purchasing a contents-only insurance policy specifically for floods. Otherwise, should the worst occur, you are going to be highly unlikely to recover this (often large) portion of your damages.
What Exactly Is Covered by My Insurance?
Renters insurance coverage in the case of a hurricane is going to cover a very specific set of costs. In the case of a hurricane, your policy will generally cover the following:
•ALE Short for additional living expense, if your rental apartment or home is damaged to the extent that you cannot stay there, as long as this damage was caused by something your policy covers like wind, lightning, or fire.
•Personal Liability costs If you are found liable for damage to another person's property or bodily harm during a covered-event that occurs during a hurricane then your policy will cover this. An example might be a borrowed generator that is damaged by a portion of the roof being blown on to it.
•Personal property Speaking of wind damage, in cases of covered specific perils such as wind or lightning (depending on your policy) then this damage is covered.
•Medical expenses While not directly related to hurricane coverage, if one of your guests is injured on your property then your insurance will generally cover a portion of their medical expenses.
•ALE Short for additional living expense, if your rental apartment or home is damaged to the extent that you cannot stay there, as long as this damage was caused by something your policy covers like wind, lightning, or fire.
•Personal Liability costs If you are found liable for damage to another person's property or bodily harm during a covered-event that occurs during a hurricane then your policy will cover this. An example might be a borrowed generator that is damaged by a portion of the roof being blown on to it.
•Personal property Speaking of wind damage, in cases of covered specific perils such as wind or lightning (depending on your policy) then this damage is covered.
•Medical expenses While not directly related to hurricane coverage, if one of your guests is injured on your property then your insurance will generally cover a portion of their medical expenses.
Some Final Considerations About Your Renters Insurance
One area of concern that can occur during an emergency like a hurricane is a mandatory evacuation. Does your ALE coverage apply if the state is ordering you to relocate? Generally, in such cases, you will be covered but it is important to discuss this with your Insurance agent just to be sure. The biggest reason is that your policy will generally state that ALE is covered when the state is asking you to relocate because of existing damage. This seems to suggest that covered damage must occur first, so check with your Insurance agent to see if this is going to be the case. Now you know the ins and outs of hurricane coverage and as you can see, flooding is the biggest overlooked factor in renters insurance but this is easily mitigated. Getting renters insurance before a hurricane is vital, and mandatory in most cases, but when it comes to renters insurance and hurricanes as long as you've gotten contents-only flood insurance then you should have your bases covered!