Renters insurance protects you against a long list of things listed in the policy. Because they’re named in the policy, this is called “coverage on a named perils basis.” Specifically, a “peril” is something that could happen to damage or destroy your property. If that happened, the policy would replace the property in question. “Named perils” tells you that the policy only covers listed risks.
How well do you understand the perils covered by your renters insurance? Do you know if there are situations not covered? At Effective Coverage, we want to make insurance easy. “Easy” includes fast renters insurance, but it also means helping you understand the coverage. Reading your policy is important, as is expert advice.
We’ll use a Bronx Renters Insurance policy as an example. 4,656,825 people rent in NYS, many of them in the Bronx. Did you know that fifty-six percent of those renters don’t have insurance? Those people are exposed to property and liability risk.
One negligent neighbor is all it takes to destroy your life. Make sure you’re covered, and make sure you understand how that coverage protects you. Effective Coverage is here to help you with both.
What Is The Peril Of Explosion? How Is It A Danger To My Property?
An explosion is a violent expansion transmitting energy outwards as a shock wave. A wide variety of things can cause explosions in residential buildings. Gas lines and gas mains are common causes. We’ve written previously about gas explosions in NYC apartments. The Center for an Urban Future also published a damning report on infrastructure risks and deferred capital improvements in NY that can lead to explosions and other disasters.
Rarely, boilers explode. Construction accidents can lead to explosions. An out of control vehicle could cause an explosion. There are a wide variety of causes, but the cause is not important. In an explosion scenario, there are four primary risks to your personal property.
The explosion can damage or destroy personal property. An explosion certainly will displace you from your home while the structure is evaluated. Fire often follows explosion. Smoke follows fire. Both are devastating to property. Collapse of the building is a serious risk in an explosion, as well.
How Does Renters Insurance Protect Me Against Explosion?
Your Bronx Renters Insurance policy protects you against the explosion as well as the risks that follow. Explosion is a covered peril, so any damage done by the initial blast would be a covered loss. Fire and smoke damage after the explosion can be covered. Water damage from putting out the fire is devastating, but covered. Damage to property from building collapse after an explosion is also covered.
What about explosion from earth movement? Earthquakes are unlikely in NYC, but construction can cause earth movement. While there’s no coverage for earthquakes on a standard policy, explosion and fire after earth movement are covered on the NY policy form.
Explosions are rare, but not unheard of. Afterwards, you would be forced to live elsewhere for a long time during the investigation and repairs. Renters insurance protects you from additional living expenses by paying those costs after a covered loss. If you didn’t notice the pilot light was out and the explosion is your fault, you’re still covered. That’s negligence, so your liability coverage would have your back.
Do I Have To Try To Stop The Loss?
No. Explosions happen instantly. Once the loss has started, there really is nothing you can do to mitigate the loss. All you can do is get out safely. Don’t worry about your stuff, that’s what you have renters insurance for.
What’s Not Covered?
- Expected or intended results of your actions
- Intentional acts of an insured
- Illegal activities such as running a drug lab
- War or warlike act
- Nuclear hazard
Riot or civil commotion is a separate covered peril. However, war and warlike acts are not covered under the standard policy. Nuclear hazards of all kind are excluded from the policy. Discharge of a nuclear weapon is considered to be a warlike act, even if accidental.
You probably don’t have to worry about your coverage if the explosion isn’t your fault. It’s always smart to have a home inventory. You should review coverage levels every year to make sure you have enough. Make sure everyone in your household is covered.
It’s easy to get a review of your coverage levels by an expert. It’s also easy and affordable to get covered. Just call (800)892-4308 or click to get covered - whether you need Bronx renters insurance quotes online or coverage anywhere else!
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