Renters insurance protects your stuff from theft and many other perils, and covers your costs if you need to temporarily relocate because of a covered loss like a fire.
But there are some circumstances where you’re covered and might not know it.
Here are answers to three frequently asked questions:
1. Does renters insurance cover flooding?
You’re covered from damage done to your stuff by overflowing toilets, sinks, tubs, toilets, and washing machines — either your own or from your neighbor upstairs.
Also, if wind or the weight of ice or snow or water damages the roof or the building and rainwater falls in, apartment insurance has got your back.
2. Am I covered if an accident occurs?
In many ways. If your house guest has too much to drink and slips and falls, and then sues you, you’d be covered.
If your dog bites a neighbor in the elevator and you get sued, for that you are also covered.
And if you leave the stove on for too long because you’ve had too much eggnog and the appliance explodes, you’re covered for that too.
3. Does renters insurance cover storage units?
The great thing about insurance is that your possessions need not be in your apartment to be covered. For damage done to your stuff in a storage unit in your building by fire and water, that is covered — you can be covered for items in off-premise storage too (check with your broker).
Have any more questions? Call Gotham today.
