What Does Renter's Insurance Cover in a Fire?

11/27/2019 (Permalink)

As a tenant, it is important to understand what your responsibility is and what should be taken care of by your landlord.

The specifics of what renters insurance covers in an emergency situation can be confusing for both tenants and landlords. Here is some information on what a renters policy is and what it covers in the case of a fire.

What Does Renters Insurance Cover?

Anyone who rents an apartment or home should obtain renters insurance. In fact, many landlords refuse to rent out their property to anyone without this type of policy. The main purpose of this type of plan is to cover a tenant’s personal belongings, provide liability coverage, and cover the costs of additional living expenses if the rented home is temporarily uninhabitable. Most policies provide coverage in the following situations:

Theft
Damage to a vehicle if on the property
Injury caused by pets
Fire damage
Lightning
Wind and hailstorms
Falling objects
Freezing and weigh from ice and snow

Most policies will not cover damage caused by pets, pest infestations, flooding, and accidental damage to belongings.

How Does Renters Insurance Help in the Case of Fire?

Any fire restoration services needed to repair the home where the tenant lives is the landlord’s responsibility to cover. However, renter insurance can pay for the cost of restoring the tenant’s belongings or replacing them completely. Apart from arson, the tenant should have coverage in every situation, even if due to negligence. The policy should also cover the costs if someone else, such as a guest or tenant in another property, suffers any injury due to the fire. If the home needs to be repaired and can’t be lived in for a period of time, renters insurance can pay for the cost of living in a hotel or other dwelling.

Renters insurance protects tenants if a fire ever occurs in their rental home. For this reason, you should never go without coverage if you're renting your home.