WEDNESDAY, AUGUST 10, 2022
As a renter, your risks of facing flood damage after a storm are just as high as those of a property owner. Yet, you may not have coverage for the losses you suffer from such an event. Flood insurance for renters may be very valuable as it can help to safeguard your possessions in the event of water damage. Before you invest, though, it helps to know a bit more about this coverage, what it offers and whether or not you really need it.
If you are a renter, which means you live in a building that you do not own, you may not have financial protection for the losses you suffer after a flood occurs if you have just a basic renters insurance plan. You cannot assume (and usually will find out it is not the case) that your landlord’s property will cover such loss. It nearly always does not. 
You may be able to file a claim against your renters insurance if the water damage you suffer is from a storm, such as damage caused by a tree hitting the roof of the apartment and allowing your belongings to become wet. However, if it is brought on by high water rising due to a storm or because of a backup of drains, this policy may not cover you.
You may be able to purchase a flood insurance policy separate from your renters insurance policy. This policy can help you to minimize the costs associated with such events. Keep in mind that you need both a renters insurance policy and a flood insurance plan. If this coverage is in place and you suffer a significant flood, it can help you to replace your electronics, personal belongings and even your collectible items, up to the value of your policy's coverage.
Don't assume you are protected from a flood if you have renters insurance. You most likely will not be protected. However, if you invest in flood insurance as a separate policy, you don't have to worry about most loss. You can have peace of mind in the event that water damage occurs.
Make sure you’re covered. Call McFarlin Insurance Agency at (410) 312-7800 for more information on flood insurance.
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