What Are The Gotchas On Renters Insurance Personal Property Coverage?

We were asked by someone who has Sacramento, CA Renters Insurance, what are the gotchas on renters insurance personal property coverage? The way they asked the question, they’re assuming that there’s always a catch to everything. While we suppose you could look at it that way, what it really comes down to is just reading your policy, knowing what’s in it, and making sure to ask for coverage that you want if it’s not in the policy already.

Some things that people see as gotchas might include:

Limited Jewelry Coverage Without An Endorsement

If you don’t get an endorsement to coverage your jewelry, you’ll be limited to $1,000 or $1,500 of coverage for loss by theft of jewelry. That’s because it’s small, highly mobile, and often stolen. The insurance company needs to know how much jewelry they’re covering in order to rate the policy properly. That’s why you need to schedule the jewelry on your policy.

It’s quite affordable to add jewelry to your renters insurance policy, and it’s hardly a gotcha. It’s written right into the policy, of course, under “special limits of liability.”

Flood Is Not Covered

But that’s not news. Flood has never been part of a renters insurance policy. It’s a separate type of insurance, and it’s separately purchased with a separate waiting period.

On the other hand, many types of water damage are covered. Broken pipes, for instance, would generally be a covered loss to your personal property. If your neighbor’s bathtub overflows, his liability coverage will cover the damage. Water damage on renters insurance is often covered.

Earthquakes

Earthquake damage to your personal property isn’t covered under the standard policy form for renters insurance in California, but you can certainly endorse it on. The coverage is available, you just have to ask to have it added. When you do, make sure you carefully read the endorsement to understand exactly what the coverage does.

Ultimately, there are no real gotchas on a renters insurance policy. You need to read your policy, and understand what it says about your coverage. If you have questions about what a particular provision does or does not do, just ask your renters insurance expert at Effective Coverage.

Insurance policies are long and confusing documents, of that there is no doubt. That’s why you work with renters insurance experts. It’s also important, when you read the policy, to do so with the endorsements in hand. Endorsements make major changes to the policy, and sometimes replace entire sections of the text.

If you still have questions about your policy, just call (800)892-4308 or click to get covered - whether you need Sacramento renters insurance quotes online or coverage anywhere else!

Effective Coverage offers the nation's only completely mobile platform to quote and purchase renters insurance right from your phone or tablet in just one minute. Get an online renters insurance quote today and protect your family.

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