Renter’s insurance is designed to protect renters in case their personal belongings are damaged or destroyed by fire, vandalism, theft, or another covered peril. Turns out, renter's insurance may cover even more than that! Find out what unusual accidents are covered below.
- Fire department calls
This is often the biggest surprise. We often think of fire departments as being volunteer, but they do charge. Luckily, homeowner’s insurance pays for this service and renter’s insurance may as well. - Medical bills for visitors
If someone is injured while visiting you, the liability portion of your renter’s insurance will pay for their medical bills. - Displacement expenses
When you’re forced to leave your rented home and live elsewhere while your home is being repaired or replaced, your rental insurance will pay all your living expenses, including hotel bills, restaurant meals, groceries, personal products, and anything else you need to get by. - Accidental damage
f your child accidentally throws a ball through your neighbor’s window and breaks it, your insurance will pay to have it repaired. It will also include liability insurance, in case your dog destroys their property or bites someone. It may also over the fee for a defense lawyer if you’re sued. - Sewer or drain backup coverage
When sewers back up, they can cause damage to personal property inside a dwelling. You can purchase coverage to cover this type of damage. - Break-Ins
If your your personal belongings are stolen, either while in your home or stored elsewhere, your renter's insurance will help pay to have them replaced. - Theft of cash or credit cards
Although your renter’s insurance does set a maximum on the amount they’ll pay for theft, they will cover a certain amount for cash or credit cards that are stolen. - Power outages
Food that is spoiled due to power outages that are not your fault is covered under some renter’s insurance policies. Most renter's insurance policies have deductibles to consider, but if you lose enough food to make it worth your while, they'll pay on the claim. - Riots or terrorist attacks
Although this isn't a common occurence, if your personal belongings in your home are damaged by riots or terrorist attacks, they are generally covered under your renter’s insurance policy.
Based on all the coverage it provides, you would think most renters must carry renter’s insurance on their personal property but, according to the National Association of Insurance Commissioners, renter’s insurance is the most under-utilized insurance on the market. Don't make their mistake, look into a policy now.
