Does Renters Insurance Cover Water Damage?

1. 

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   Tom Sheehan

   Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482

   Generally speaking, the coverage provided by a Tenants' Policy is vey similar to that provided by a Homeowners' Policy.  The main difference is that with regard to property coverage, a Renters' Policy protects YOUR belongings while a Homeowners' protectes both the home and personal property.  Remember that someone else owns your building or unit so they would have coverage for their interests. Water camage is a covered peril in both, though there can certainly be some differences.  In a Renters Policy, if rain comes in through an open window, the damage caused to your couch, for example would be covered by your policy. If on the other hand, you made a mistakle and left the water running in the tub and it overflowed, not only would your policy provide coverage for your damages, but the liability portion would provide coverage for your landlord's interest.

   Answered on July 23, 2013

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   David G. Pipes, CLU®, RICP®

   Business Development Officer, T.D. McNeil Insurance Services, Fresno, California

   The fundamental question about water damage is the source of the water. If the water is entering the unit as the result of flood, the renter’s policy excludes coverage. If the water is entering the unit because of a burst pipe in the wall, the renter’s policy will cover. There is a special situation that needs clarification, sewer backup. If the water is coming into the unit through the sewer it is usually excluded, however, coverage can be purchased for a nominal price.

   Answered on October 7, 2014

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