Does Renter Insurance Cover Water Damage

7/7/2022 (Permalink)

If you are renting a house or apartment in Joliet, IL, you have probably purchased renter's insurance to cover your belongings in the event of a disaster. You might be wondering, though, how far your coverage extends. Renters should be aware that most policies do not protect a tenant's belongings in the event of a flood.

What Is Covered by Insurance for Renters?

A regular policy for renters will cover your items if something happens to your belongings, including water damage from a burst pipe, certain plumbing issues or a broken appliance. However, a basic policy will not cover damage from flooding. Flooding can be caused by:

• Heavy rain
• Too much snow
• Rising water
• Sewage backup
  
  

Renters will need to purchase a separate flood insurance policy for these types of disasters.

Do I Need Flood Insurance?
If you do not live near the coast or in a flood plain, it's easy to dismiss the idea of purchasing flood insurance coverage. However, even a minor flood can be expensive. FEMA estimates that even one inch of water can do thousands of dollars in damage to the contents of a dwelling. Flood insurance will help pay if you need to replace your belongings or use a commercial restoration service. Flooding can happen in any of the 50 states. If you want guidance determining your risk level for flooding, consult FEMA's flood map service to see what zone you live in.

How Can I Purchase Flood Insurance?
The National Flood Insurance Program, or NFIP, is a division of FEMA that provides flood insurance in the United States. The insurance is sold through private companies. Because prices are set by the government, they are consistent no matter what company offers it. Prices will depend on what kind of dwelling you live in and your geographic location. Ask your insurance company if it sells flood insurance.
If you want complete protection for your belongings, make sure your renter's insurance policy is up to date and consider adding flood insurance coverage. You will have peace of mind knowing you're prepared if you need to make a claim.