Renting an apartment, house, or room in Florida is an exciting prospect, but it is not without its challenges. Renters also have to tackle the same issues faced by homeowners, such as water or fire damage, theft, vandalism and accidents. In order to equip the renter for these unfortunate circumstances, there is a need to invest in a good renters insurance policy in Florida.
Renters insurance protects renters, their belongings, and their living arrangements. When applying for renters insurance, keep in mind that rates vary depending on the insurance company and the type of coverage selected, among others. There are many insurance companies out there, so it is recommended that you research well to find the one most suited to an individual’s needs and budget.
ServiceMaster by Wright has assisted home and business owners in Southwest Florida with restoration and cleanup after water damage for 40 years. Call (239) 431-9947 for 24/7 emergency response.
Is Renters Insurance Required in Florida?
In Florida, renters insurance is not mandated by state law. However, landlords can require tenants to purchase renters insurance as part of their lease agreements. It’s generally a good idea for renters to have insurance to protect themselves from potential losses that aren’t covered by the landlord’s insurance policy.
What is the Coverage of Basic Renters Insurance?
As mentioned, renters or tenant insurance is used to cover the cost of replacements or restoration of personal belongings due to unforeseen events, among other benefits. A standard renters insurance is designed to cover the following:
Personal Property Coverage
This covers a renter’s personal belongings such as household items, furniture, clothing, and jewelry up to a specified dollar limit. Take note that recreational items such as boats may need a separate policy.
This is designed to protect belongings when away from home or traveling and includes items in the house or those brought in the car or vacation. Certain rules apply, however, when the damage or loss occurred away from home, so always check the provisions of your policy.
Personal Liability Coverage
This is used to cover for damages caused to another person’s property (specifics apply) or when you’re liable for someone’s injury due to an accident that happens inside your home.
Additional Living Expenses
If the rented property becomes uninhabitable after a loss incident, renters insurance can cover the costs for temporary living arrangements, like hotel bills.
The reimbursement process can either be done in cash value or by paying the cost to replace a damaged item. Note that this list is subject to changes depending on the insurance company and the policy a renter purchases, which is why it is important to choose and check your policy thoroughly, ensuring that all your needs are covered.
Does Renters Insurance Cover Water Damage?
While many renters focus on coverage for belongings if their rental is burglarized, it’s also important to consider coverage for water damage.
In general, a basic renters insurance policy may provide coverage for personal property losses caused by:
- Windstorm or hail
- Weight of sleet, snow and/or ice
- Smoke
- Fire and/or lightning
- Explosions
- Freezing of plumbing systems
- Fire sprinkler failure/accidental discharge
- Accidental or sudden discharge of water from a plumbing system or other appliance
- Ceiling leaks
- Toilet flooding due to accidental overflow
Remember that renters insurance does not cover flood insurance, so to further secure a property, there is a need to purchase a separate policy for flood damage.
How to File a Renters Insurance Claim?
- Notify Your Insurer. Contact your insurance company immediately after the incident to start the claim process.
- Review Your Policy. Understand what is covered under your policy and note your deductible.
- Document the Damage. Take photos and videos of all damages and list all affected items, noting their value and any available receipts.
- Submit a Claim Form. Complete and submit a claim form provided by your insurer, along with your damage documentation.
- Cooperate with the Adjuster. An adjuster may assess the damage. Provide any additional information they require.
- Temporary Repairs. Make any necessary temporary repairs to prevent further damage, keeping all receipts.
- Track Additional Expenses. If you incur additional living expenses due to being displaced, keep receipts for potential reimbursement.
- Follow Up. Stay in contact with your insurer to track the progress of your claim.
- Receive Payment. Once approved, you will receive a payment for the damages, less your deductible.
What Should I Do if I Have a Water Loss?
In event of water damage in Florida, immediately call your insurance agent and a professional water damage restoration company like ServiceMaster by Wright. The water damage should be isolated so it does not spread to other areas of the house and cause mold growth. Review your insurance policy and document the damage in detail. Keep receipts of the repairs done as well as the costs incurred if you have to stay somewhere else.
Hire ServiceMaster by Wright for Water Damage Restoration Services in Fort Myers, Florida
When your furniture and other personal belongings experience water damage, look to the professionals at ServiceMaster by Wright for safe, thorough water damage cleanup and restoration. We’ll help you work with your insurance company during the claims process to get your life back to normal fast. As an IICRC Certified Firm, you can expect a fast response and quality work when you hire our team.
Call ServiceMaster by Wright at (239) 431-9947 for 24/7 emergency response, or contact us online to schedule an appointment.