Earthquake renters insurance is a stand-alone coverage in high-risk areas along fault lines, usually in California, Alaska and Hawaii. You can combine renters insurance with life insurance or car insurance through companies such as Allstate. If the water damage is due to flooding caused by the hurricane, it will most likely be excluded from standard renters insurance. Unfortunately, many renters believe their property is covered by their landlord’s insurance policy and are left with little or no recourse to recover when catastrophe strikes.
Renter’s insurance covers a lot and everyone should have it, but flood damage is difficult to cover. Unfortunately, most renters will suffer after a tornado, as only 43% have renters insurance, according to the Insurance Research Council. Knowledgeable independent agents are always available to answer any questions you may have about renters insurance. Renters insurance is relatively inexpensive and can help replace your valuables if they are lost in a storm or through theft.
But you should start by looking at Policygenius – which you may know as the life insurance company we’ve reviewed in the past. Allstate, however, specifically offers flood insurance, although it is not as inexpensive as basic renters insurance. Many renters insurance policies include coverage for wind damage, so tornado policies do not have to be purchased separately, as with other types of catastrophes. One policy may cover wind damage from hurricanes, and another may require you to purchase a rider or hurricane renters insurance.
These agents can help you find a variety of quotes from several different insurance companies, ensuring that the renters policy you purchase offers the best coverage at the most affordable rates. Even if a hurricane was not the cause of a flood, a basic renters insurance policy will not cover this type of catastrophe. Flood insurance is regulated and sold by the National Flood Insurance Program (NFIP), created by the government to help homeowners recover after a flood. You may be able to add renters’ earthquake coverage as a rider to your policy if you live in an affected area, or you may need to purchase a separate catastrophe insurance policy.