Does your Florida renter’s insurance cover water damage or is this excluded from the list of named perils under the policy? If the policy covers water damage, what kinds of damage does it cover and which ones does it exclude?
If you live in the state of Florida and own renter’s insurance or are about to buy renter’s insurance, these are questions you should be asking. Not knowing the perils covered by their insurance policy is a significant reason why insurance policyholders often have difficulties processing claims. If you want to avoid the shock of discovering that your policy does not offer as much coverage as you thought, you must ask the right questions beforehand.
As a person living in a rented home, owning renter’s insurance is one of the best things you can do to secure your belongings and protect yourself from personal liabilities, says TrueNest Management in Hollywood. Renter’s insurance is for the peculiar needs of people living in a home that is not theirs. It ensures that people who cannot be covered by homeowner’s or landlord’s insurance are not left entirely without the benefits of an insurance policy.
However, like all insurance, renter’s insurance has its limitations. It will not protect you from every known peril. And one of the areas where you should know the extent of the policy’s coverage is the area of water damage. Will your renter’s insurance pay for any and every water damage that happens to your belongings? What about if someone’s belongings suffer water damage as a result of your actions, will the policy pay for the damage?
Explaining renter’s insurance and water damage
Insurance policies categorize water damage by type. The source of the water defines each category of water damage. Renter’s insurance treats every category of water damage differently by excluding some and others. Which ones do the policy include or exclude?
Types of water damage covered by renter’s insurance
1. Plumbing leaks
Damage due to plumbing leaks is often covered in the policy. Plumbing leaks refer to damage that occurs through such things as a constant drip from beneath the kitchen sink or a leaking pipe that soaks into the walls. The policy mostly includes situations like these.
2. Damage from frozen water
Frozen water may be a result of ice buildup on the roof, which leads to water from melted ice entering the home and damaging the renter’s possessions. Or it could be when pipes freeze and burst in winter, and afterward cause damage to the renter’s property.
3. Burst water pipes
Most times, a renter’s insurance covers damage from burst water pipes. Water pipes can burst for several reasons – old age, excessively high water pressure, or lime deposits from water. Regardless of what caused the pipe to burst, damage from this source is usually covered.
4. Rainwater damage
It depends on the exact way the rainwater got into the home. If the rain damage happened because of a storm, it would probably be covered. But if the damage occurred because the roof was leaking, it may not be covered, since the damage was due to negligence.
5. Water damage to other’s belongings
Suppose water originates in the insurance policyholder’s home and spreads to other units in a multifamily dwelling. In that case, the renter’s insurance often covers the resulting damage. But if the event is the result of the renter’s negligence, the insurance company may refuse to pay.
Types of water damage not covered by renters insurance
The renter’s insurance does not cover damage by floodwaters. Flood damage refers to any damage from heavy rainfall or strong winds causing floodwaters to enter and submerge all or parts of the home and everything inside it. To get protection from flood damage, the holder may shore up the policy by buying flood endorsement.
Water damage over time
If the water damage is preventable through routine maintenance, the policy will exclude it. This means that all damage to a renter’s possessions, which is the result of somebody’s negligent behavior will not be paid for by the renter’s insurance.
Sewage water damage
If the sewers in the premises become blocked and cause the water or other fluids within them to back up and overflow into the home, the resulting damage will not be paid for by the policy. However, it is possible to include coverage against sewer water damage in a renter’s insurance.
Damage from sump pump failures
When the sump pump fails, the resulting buildup of water may allow water to find its way into the home through the floorboards and damage the renter’s belongings. Water damage from sump pump failures is not covered by the renter’s insurance, although it can feature as an add-on.
The above is a general guideline of how renter’s insurance in Florida deals with water damage. To get exact details of how your policy treats specific types of water damage, you should talk to your insurance agent.