![]() ![]() Your renters insurance will, however, cover you if you are displaced due to a covered peril, like a fire. Your renters insurance will also not cover food, gas and lodgings because a flood is not a covered peril. You will not be reimbursed for food, gas and lodgings if you are displaced due to flooding. Even then, not every expense will be covered, like the following losses: Additional Living Expenses You will need a flood policy of your own. Get Personalized Renters Insurance Quotes Here What’s Not Covered With a Flood Policy?ĭo not think that if your landlord has a policy that it will cover your losses because it won’t. It may cost more but you’ll be fully protected and can add endorsements for any particularly expensive items, like collector’s items or furs and jewelry, without feeling limited by the $2,500 maximum coverage. Your only other option is to buy a private plan with higher coverage. Also NFIP policies are not available in all communities. When you consider what these belongings will cost you to replace today, you’ll see that even the NFIP standard of $100,000 flood policy is not as generous as it first seems. If you have valuables that exceed the $100,000 coverage from NFIP, you’re better off buying a private flood insurance policy.Ĭonsider what it would cost to replace all of the following items (this is only a partial list) and see why it’s important to buy renters insurance and a separate flood policy: You are not covered for a flood that is a result of heavy rains, melted snow or a hurricane storm surge. When you buy renters insurance, you are covered for flooding that results from a sudden burst pipe or a severe leak due to roof damage after a storm. However, flood insurance can easily be added to your renters insurance policy. With that said, if you do not have some type of flood policy, a standard renters insurance policy will not cover the losses of your personal belongings resulting from a flood. If you have valuables that exceed the $100,000 coverage from NFIP, you’re better off buying a private flood insurance policy. ![]() Even if you live in a low-risk flood zone, it’s highly advisable that you buy a flood policy to protect your things: Your landlord’s flood policy will not cover you! but flood insurance is not required, especially not for renters. Low-to-moderate risk areas account for 26% of floods in the U.S. If you are a renter in low-to-moderate risk areas, you may be eligible for a Preferred Risk Policy, which is cheaper than a standard policy. If you are a renter, you can buy a policy from the National Flood Insurance Program (NFIP) to cover contents up to $100,000. ![]()
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