Water Damage: A Renter’s Potential Nightmare

According to the Insurance Information Institute (iii.org), water damage is the second most common cause of property damage. Yet, 63% of renters do not have renters insurance. Many tenants presume their landlord's insurance policy will cover the damage to their belongings. Unfortunately, this is not the case. 

A landlord's insurance covers repairs the building itself, not the renter's personal possessions. With winter’s chill upon us, if a pipe were to freeze and break thus flooding the apartment’s interior, the landlord would be responsible for repairing the pipe and any damage to the structure. As a tenant, you would be responsible for replacing your personal property.

Or let’s flip that around. Let’s say you caused the water damage due to an overflowing tub or sink causing water damage not only to your apartment, but to other units in the building as well. A renters policy can protect property damage to others. 

Renters insurance covers your personal property in the event of a disaster. And it’s not expensive. The average policy, depending on coverage is about $15 per month for $30,000 policy (Independent Insurance Agents and Brokers of America). A basic renters insurance policy covers:

• Frozen pipe breaks
• Windstorm or hail
• The weight of sleet, snow or ice
• Fire sprinkler failure
• Plumbing leaks
• An accidental discharge from an appliance

What to do if you have a water loss

• Call your landlord and call us, your dedicated insurance representative at 508-347-9343
• Take photos and/or video of the damaged property. And don't throw anything away until your claims adjuster has completed an inspection. 

And if you don't have renters insurance, definitely call us now!

McCurdy Insurance, 508-347-9343, where the Best Insurance is Prevention!