Understanding Insurance Policies

3 Things You May Not Know Your Renter's Insurance Covers

5 October 2022

Samantha Reynolds

Whether you chose to purchase renter's insurance to protect the items inside your home or simply as a requirement of your lease, you may be pleasantly surprised to learn that your policy actually provides more coverage than you realize. Renter's insurance covers many perils that are commonly overlooked by policy holders. Continue reading below to discover more about three of the things you may not be aware your renter's insurance policy covers. 

#1: Replacing Spoiled Food After A Power Outage

If the food in your refrigerator or freezer goes bad as the result of a power outage, you may think that you are on your own when it comes to covering the cost of replacing this food. However, the truth is that many renter's insurance policies will actually cover some or all of this cost for you. The key to utilizing this coverage is that the loss must have been the result of a power outage rather than an appliance failure. You may also find that your policy has a monetary limit on how much food they are responsible for replacing in this situation. Consequently, you may wish to purchase additional coverage if you commonly store a lot of food in your home at any given time.

#2: Personal Belongings Inside Your Vehicle Or In Transport

Chances are that you know your renter's insurance provides coverage for your furnishings and other personal belongings inside your home. What you may not realize is that this coverage does not end at your front door. Even when items are removed from your home, your renter's insurance continues to cover them. This means that if an item is damaged or stolen when inside your personal vehicle or while away on vacation, you can still file a claim with your renter's insurance for this loss. The key to utilizing this coverage is that the items must be for personal use and typically kept in your home. Consequently, while a personal laptop that you are transporting in your vehicle will be covered under your renter's insurance, a car radio will not be covered by this policy.

#3: Temporary Shelter Costs

While a renter's insurance policy does not cover the home you live in, it can help to cover the costs associated with being temporarily displaced from your home in the event your home is damaged. For example, if you have to stay at a hotel for a few weeks while your home is undergoing repairs, your renter's insurance can help you to cover these temporary shelter costs. The key to utilizing this coverage is that your shelter costs must be the result of displacement and this displacement must be expected to be temporary. 

For more information, contact a local company, like Woodmansee Insurance Inc.

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