If you’re renting an apartment, condo, or house, renters insurance comes to mind. It’s a clever move, as renters insurance usually covers theft, fire, or some kinds of water damage. But here’s the surprising part: most traditional renters insurance policies don’t cover flood damage. Enter renters insurance flood coverage.
Flooding is one of the most common and costly natural disasters in the U.S. From hurricanes and intense rain, to rivers at crest or rising, water’s destruction can cause thousands of dollars in damages and obliterate loved ones’ personal possessions in just a matter of hours. A false sense of security.
At Georgia Furniture Rent knows it’s important to keep your home necessities safe. That’s why we design our rental furniture with quality materials that are durable and low maintenance perfect for renters in search of comfort and peace of mind.
What flood insurance for renters is, how it works, why it’s important, and how you can get it today, everything you need to know on flood coverage for renters is covered by this article.
Why Does Renters Insurance Flood Coverage Matter?
Floods are the number one most unpredictable natural disaster and can occur in any state, not just coastal regions. Heavy rainstorms, melting of snow, blocked drains, or new construction can also increase the risk of flooding. The Federal Emergency Management Agency (FEMA) estimates just over $25,000 worth of damage for each inch of water.
Homeowners can buy flood insurance that covers those damages to their home and its contents, but renters are in a far worse place. Your landlord’s insurance policy only covers the building structure, not your belongings. If a flood destroys your furniture, electronics, or clothes, you’ll have to replace those items out of your pocket if you don’t have flood insurance for renters.
Which is why understanding renters insurance flood coverage is so important. It’s not a part of the standard renters policy automatically; you need to procure it separately through separate flood insurance offered by FEMA’s National Flood Insurance Program (NFIP) or private insurers.
What Does Renters Insurance with Flood Coverage?
If you add this form of flood protection as a renter, the policy will specifically protect only your personal belongings. Unlike your landlord’s insurance, which will repair the building itself, here is what your flood coverage will pay to replace or repair:
Furniture, couches, beds, and tables
Electronics: TVs, computers, gaming systems
Clothing: shoes, and accessories
The kitchen appliances that you may already have: (Microwaves, mini fridges, etc.)
Books, documents, and personal items.
With renters’ flood insurance, you’ll be spared the nightmare of significant out-of-pocket expenses after disaster strikes. Without it, you could lose thousands of dollars in property the first time your low-level creek, floodplain, or urban waterway floods.
Does renters insurance cover flood damage?
No. Generally, the short answer to this is no. Most regular renters insurance plans don’t cover damage sustained from flooding. While they might cover water damage resulting from a burst pipe or accidental overflow, flooding from storms, heavy rain, or rising waters is typically excluded.
This is where a lot of renters make an expensive mistake. They believe that by having renters insurance, they are covered against all water damage, but flooding is in a class of its own for risk. To obtain coverage, you’ll have to buy a renters flood insurance policy through the NFIP’s direct-sell program or a private insurer.
Without flood protection, you’ll foot the bill to replace everything you own. This is why knowing the ins and outs of renters insurance flood coverage is so important to anyone living in an area prone to flooding or even areas that don’t see much flooding but still have occasional risks.
How can renters obtain flood insurance coverage?
If you want renters insurance that includes flood coverage, you generally have to purchase it separately.
Here are your main options:
NFIP (National Flood Insurance Program):
Funded by FEMA, NFIP offers relatively inexpensive flood coverage for renters if there is an active program.
Policies generally cover up to $100,000 in personal property.
Offered through numerous insurance brokers.
Private Flood Insurance:
Made available by private insurers, typically with higher limits.
Could offer supplemental benefits, like faster payouts or temporary housing.
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With a little help from your insurance agent, you can easily add Renters Insurance Flood Coverage to your policy. Keep in mind that most Renters Insurance Flood Coverage plans include a 30-day waiting period, so it’s best to secure coverage before the next storm season begins.
How much does flood insurance for renters cost?
The price of renters’ flood insurance varies depending on your location, building type, and how much personal property coverage you want. Renters will typically pay between $100 and $250 a year, on average.
This is cheap compared to the losses that could ensue. For instance, furniture, electronics, and clothes damaged in a flood could easily run upward of $10,000. You can get peace of mind with renters insurance flood coverage for less than $20 a month.
The fact that you live in a high-risk flood zone will make your policy more expensive, but people who only face a moderate or low risk can buy coverage — and often at very affordable rates.
How do you make a flood insurance claim as a renter
Here’s how the claims process works if a flood causes damage to your personal property:
After the flooding, contact your insurance provider right away.
Take fair photographs and make lists of lost items.
Submit a Proof of Loss, describing your claim in writing.
Team up with an adjuster, have them look at your property, and verify damages.
Get reimbursed for covered items according to your policy.
Renters insurance flood coverage helps you recover faster by providing assistance to get back on your feet. And maintain an up-to-date inventory of all your possessions with corresponding photos or receipts.
Conclusion: Renters Insurance Flood Coverage
Flooding is one of the most destructive and costly disasters renters can experience, but basic renters insurance won’t even protect you. And that’s why knowing how renters insurance flood coverage works or doesn’t is crucial.
Don’t wait for disaster to strike — explore your Renters Insurance Flood Coverage options now and compare prices to get the best protection. Securing your belongings with Renters Insurance Flood Coverage ensures faster recovery and strong support from your insurer when unexpected flooding occurs.
Replacing furniture after any water damage can be stressful and costly. At Georgia Furniture Rent, you’ll find affordable high quality furniture and accessories that we arrange for you in any one of our locations.
FAQs
Do renters need flood insurance?
Not really, but if you live in a flood-prone area, your landlord may require one of these to live in the building.
Can I purchase flood protection as an endorsement to my renters policy?
More often than not, it’s no: Flood insurance is bought separately from either NFIP or private insurers.
Does flood insurance pay for temporary housing if I have to move out?
(NFIP policies do not, although some private insurers might provide that benefit.
When may my flood policy begin?
Typically, there’s a 30-day waiting period, so plan.
Can roommates be on one flood policy?
Yes, if the policy includes all roommates on it.