Work affairs sometimes require someone to frequently move places of residence. Renting a house will be better if you are only living for a few years or a short time. To make it more economical and comfortable, you can buy renter’s insurance. But, does renters insurance cover tornado damage?
Actually, there is no legal obligation to the tenant to purchase renter’s insurance. Landlords will usually advise tenants to purchase renter’s insurance in order to minimize various kinds of risks, such as lawsuits or property damage.
By purchasing renter’s insurance, it will be clear what is the tenant’s responsibility in the event of damage to rental items and personal property. Landlords and tenants no longer need to argue over who should pay compensation.
Additionally, buying renters insurance is also a smart decision if you live in a high-risk disaster area. Natural disasters can cause severe damage to the house that you are renting. If a disaster that damages your rental property is included in insurance coverage, the insurance provider will compensate.
Daftar ISI
What is Renters Insurance?
Renters insurance is a form of protection purchased by renters to protect rental property and the items in it, including your personal belongings. Not only does it protect rented houses, but you can also use renters’ insurance if you live in an apartment or condo.
Renters’ insurance premium rates are very affordable, ranging from $12 to $20 per month. In fact, tenants who have only lived for one year can immediately buy this protection to avoid huge losses.
Many renters’ insurances provide coverage if the rental house is damaged by a disaster. However, there are also some damages that are not covered by insurance providers.
What Does Renters’ Insurance Cover?
Those of you who live in areas prone to natural disasters must be curious and wondering “Does renters insurance cover tornado damage?”. Let’s take a peek at the coverage you will obtain when buying renters’ insurance!
1. Personal Property Damage
If you purchase a renters’ insurance policy, you will have the opportunity to get compensation for damaged personal property. Personal property that is included in the coverage are clothing, furniture, electronic goods, art and jewelry (subject to coverage limits), and other items in the house.
However, insurance providers do not indemnify personal property such as cars, anything you keep outside your home, anything in your home that doesn’t belong to you, and permanent equipment.
The renter’s insurance provider will also cover damage due to hazards such as fire, vandalism, theft, weather damage (tornado, hail, storm, and snow) as well as electrical and plumbing malfunctions.
Damage due to floods and earthquakes is not covered by insurance. If you want to get coverage for damage from the two disasters, you can buy a separate insurance policy.
2. Liability
The next coverage you will get from renters’ insurance is a liability. You can claim this coverage if you, your pets, or members of your family damage other people’s property. Furthermore, liability coverage also provides coverage for medical expenses if any of your guests get injured while in the house you rent.
Renter’s insurance will provide legal protection costs if you get a lawsuit from a third party related to the house you rent. Legal expense coverage typically ranges from $100,000 to $300,000.
3. Additional Living Expenses
If the house you are renting is badly damaged due to a disaster covered by insurance and you cannot live in the house, insurance will provide additional living expenses. Hence, you can look for a more appropriate temporary place to stay such as a hotel.
The coverage of additional living expenses will cover temporary rental costs, eating at restaurants, and various other expenses while you are living in a temporary residence. With the coverage of additional living expenses, your basic needs such as food and shelter are still well fulfilled.
So, does renters’ insurance cover tornado damage? After reading the discussion on the coverage provided by the renters’ insurance, damage due to a tornado will be compensated. This is because a tornado is not a natural disaster that is not covered, such as earthquakes and floods.
Key Benefits of Renters’ Insurance
Don’t hesitate to buy renters’ insurance when you are going to live in a rented house because it has many benefits. Let’s find out the benefits below:
1. Relatively Affordable Premiums
Many insurers offer affordable monthly premium rates for renters’ insurance policies. You can find a range of premiums starting from $15 per month. If you’re lucky, you can get a cheaper premium than that with more or less the same coverage. Thus, this affordable premium rate range is no longer an obstacle to not buying renters insurance.
2. Provide Protection for Your Belongings
If you think renters’ insurance coverage will only protect luxury and valuable items, then this is definitely wrong. The insurance provider will cover all of your personal belongings within the rented walls. Personal items that are included in the coverage and get compensation include beds, the price of dishes, TV, and even toothbrushes.
Even though some personal items may seem trivial, they will cost you a lot of money if they are all damaged by a fire. However, if you have bought renters’ insurance, you can remain calm and think clearly even when you are in a disaster. You don’t have to bear major losses because insurance will replace it.
3. Protecting Losses Due to Guest Negligence
People who visit your rental house may get into an accident due to tripping on the carpet, being bitten by a pet dog, or other accidents that cause bodily injury. If this happens, then you as the host must be responsible for paying for medical expenses for the injury.
Guest negligence that occurs at your rental house and results in bodily injury will be covered by insurance. Consequently, you no longer need to spend personal pocket money to pay for medical expenses.
Does Renters’ Insurance Cover Tornado Damage?
In essence, if you have read the entire article above, rental house damage due to a tornado will get renters’ insurance coverage. Other natural disasters that are included in renters’ insurance coverage are snow, hail, storm, hurricane, fire, and explosions.Thus, this discussion has clearly answered your question about “Does renters’ insurance cover tornado damage?”. If you’re ready, let’s contact the insurance agent and get your adequate insurance now!
