In the aftermath of this weekend's #flooding in #Austin and the surrounding areas, many people, homeowners and renters alike, will have to file claims. However, both renter's and homeowner's insurance doesn't cover flood damage. Read on for esurance's run down of what renter's insurance does and doesn't cover.
In general renter's insurance covers replacing or repairing your personal property after something happens in your #apartment that is considered a covered event, like a fire or burglary. The average renter has about $20,000 in personal belongings in their home and is 25 percent more likely to be robbed than someone who owns a home. Renter's insurance also covers your belongings anywhere you take them in the world.
If a guest is injured in your apartment, renter's insurance can provide liability coverage for legal costs. There are different limits to this on different policies. It also covers medical payments up to a prescribed limit if a guest or visitor is injured while in your home.
Renter's insurance follows you and will cover any items you accidentally break or damage while at someone else's home. It will also cover additional living expenses if you have to stay in a hotel because of a covered event.
Most renter's insurance considers the following events "covered events" (check your own policy to be sure): fire or lightning, windstorm or hail, explosions, smoke, vandalism, theft, burglary, falling objects, weight of ice, snow or sleet, freezing and volcanic eruption. Renter's insurance doesn't cover flood damage, but if a pipe bursts in your apartment and it damages your belongings, you would be covered.
Need help finding a new #apartment? Give Austin Apartments Now a call today at 512-258-8224!