While owning a home is a dream for many people, not everyone desires to be a homeowner. Not only is there a great deal of responsibility involved in owning a home, but for people who like moving often, homeownership may simply not be a good idea for obvious reasons. Renting a home isn’t a bad alternative to ownership, and most renters should ensure they have renter’s insurance for added protection. However, many renters wonder whether renter’s insurance covers natural disasters. The short answer is yes, it does. However, there are some limitations.
Understanding Coverage Limitations
Like homeowner’s insurance, renter’s insurance provides coverage for losses and damage due to natural disasters. Keep in mind that not all natural disasters are covered. While each insurance agency is different and provides different coverage, most companies cover natural disasters like tornadoes, rain, and snowstorms (excluding flooding), and fires. Again, renter’s insurance doesn’t provide coverage for damage sustained due to flooding, and it also fails to provide coverage for:
- Earthquakes
- Sinkholes
- Other possible natural disasters
If you’re concerned about the unpredictability of the occurrence of natural disasters, especially with the presence of climate change, you might want to obtain additional insurance along with your renter’s insurance policy. If you’re unsure what coverage you’re entitled to under your primary renter’s insurance policy, contact your insurance provider for clarification. You might find that a new insurance provider is warranted. If you come to this conclusion and you’re an Illinois renter, Green Family Insurance Inc. is a great choice. At Green Family Insurance Inc., we make certain that we go above and beyond to provide exemplary service and coverage. Give us a call today to ensure your Illinois rental is covered in case of a natural disaster.
