Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
A renter’s policy provides coverage for damage that is the result of a covered peril. Since there is a wide variety of forms this cannot be answered for every case, however, most policies list “windstorm or hail” right after “fire and lightning.” These are the fundamental coverages contained in most policies.
The coverage has some limitations. The company will normally not pay for loss to property inside a structure, caused by dust, rain, sand, sleet, snow or water, all whether driven by wind or not, which enter through an opening not made by the direct force of wind or hail.
The company is not likely to pay for the loss to watercraft and their trailers unless inside a fully enclosed building. Smaller water craft normally have coverage.
If your property damage is subject to ordinance or law, such as a connection for an appliance, there might be a limitation on the increased cost of replacement that comes because of that law or ordinance.
If the hurricane causes landslides or erosion, damage to your personal property arising from that movement of land might not be covered either. The same is true if the damage comes from flood water or tidal waves. This exclusion applies whether it is caused by wind or not.
If the hurricane interrupts power supply the insurance company probably will deny coverage on any loss that result from that cause, for example rotting food in a freezer.
If you are running a business out of your apartment, the company will probably exclude any loss that comes from that business to include interruption because there isn’t power or people cannot reach your apartment.
The chances are quite good that if a hurricane strikes your apartment, that your renter’s policy will replace your property up to the limits of the policy. This is when you find out how good your coverage is. If you have appropriate limits you could be fully restored, minus the deductible.
It is very important to have the correct limits for coverage on your renter’s policy. To make sure that you have adequate coverage take a picture of everything that you own inside your apartment. Then make a chart showing the property and the estimated cost of replacing the property. When you add up that list you will have the amount of coverage you should set as a limit for your policy. The pictures and estimates should be stored off-site in case that hurricane becomes a reality.
Hurricanes often result in a loss of life. While that might seem remote, this might be a good time to consider what will happen to those that you leave behind. A quick inventory of debts would be a good thing to have handy. If you can eliminate debts and pay for final expenses you would be a great help to those that you love. Every weekend we see people on street corners seeking donations or offering car wash services so they can pay the expenses for a loved one. It is sad but it can be avoided with just a small amount of planning.
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The coverage has some limitations. The company will normally not pay for loss to property inside a structure, caused by dust, rain, sand, sleet, snow or water, all whether driven by wind or not, which enter through an opening not made by the direct force of wind or hail.
The company is not likely to pay for the loss to watercraft and their trailers unless inside a fully enclosed building. Smaller water craft normally have coverage.
If your property damage is subject to ordinance or law, such as a connection for an appliance, there might be a limitation on the increased cost of replacement that comes because of that law or ordinance.
If the hurricane causes landslides or erosion, damage to your personal property arising from that movement of land might not be covered either. The same is true if the damage comes from flood water or tidal waves. This exclusion applies whether it is caused by wind or not.
If the hurricane interrupts power supply the insurance company probably will deny coverage on any loss that result from that cause, for example rotting food in a freezer.
If you are running a business out of your apartment, the company will probably exclude any loss that comes from that business to include interruption because there isn’t power or people cannot reach your apartment.
The chances are quite good that if a hurricane strikes your apartment, that your renter’s policy will replace your property up to the limits of the policy. This is when you find out how good your coverage is. If you have appropriate limits you could be fully restored, minus the deductible.
It is very important to have the correct limits for coverage on your renter’s policy. To make sure that you have adequate coverage take a picture of everything that you own inside your apartment. Then make a chart showing the property and the estimated cost of replacing the property. When you add up that list you will have the amount of coverage you should set as a limit for your policy. The pictures and estimates should be stored off-site in case that hurricane becomes a reality.
Hurricanes often result in a loss of life. While that might seem remote, this might be a good time to consider what will happen to those that you leave behind. A quick inventory of debts would be a good thing to have handy. If you can eliminate debts and pay for final expenses you would be a great help to those that you love. Every weekend we see people on street corners seeking donations or offering car wash services so they can pay the expenses for a loved one. It is sad but it can be avoided with just a small amount of planning.