Most professionally managed apartment communities require renters insurance. In much of the country the better part of the rental housing stock consists of those communities. In the Midwest, though, most rentals are from private landlords. Whether or not your landlord requires it, it’s still good to have Duluth, MN Renters Insurance.
When people think of renters insurance they often think of fire damage coverage and liability. Both are frequently (and incorrectly) glossed over with a quick “Won’t happen to me!” Your policy actually covers much more than that. There is a long list of renters insurance perils named in the policy, and your property is protected against all of them. Accidental water discharge or overflow is one of those perils. It’s also a frequent cause of losses.
What Is The Renters Insurance Peril Of Accidental Water Discharge Or Overflow? How Does My Policy Protect Me?
This peril can come in many forms. We all dread the thought of a burst pipe. Most tenants wouldn’t even know how to shut off the water in such an emergency. That’s unfortunate because water damage can come from a variety of sources. When it occurs personal property isn’t the only thing that suffers a loss. Walls can be ruined and electric wiring can be seriously damaged. A fire can easily result from that damage.
It’s important to be clear when discussing accidental water discharge or overflow. For example, water that backups up through a sewer, sink, or drain is not an accidental discharge or overflow. It’s water backup, and that’s not covered in the standard policy. However, you can add the coverage to your policy with an endorsement for just a few dollars a year.
How Does Renters Insurance Protect Me From Accidental Water Discharge Or Overflow? Painful Perils Explained Easily
Burst pipes are a covered loss. That’s accidental water discharge from a plumbing system, and clearly covered by the policy. Repairs to the plumbing are not usually covered, that’s on the landlord. If your negligence caused the pipe to burst that repair might be covered under liability. Damage can be extensive from a large leak. Note that damage continuous and repeated seepage or a slow leak is not covered. This is because repairs should have been made before serious damage happened.
If your air conditioning leaks water suddenly and unexpectedly, that could be a covered loss. The “sudden and accidental” element is what matters. A slow drip from a window AC is not covered, but a sudden gush of water likely would be. The same can be said for heat. If you have radiators and there’s a leak the damage from the flow of water is covered. There may be some extra coverage with a heating system leak, as well.
In many parts of the country such as Minnesota, there is no way to live in an apartment without heat in the winter. You’ll have to stay somewhere else while repairs are made. Loss of use coverage helps to pay for additional living expenses springing from a covered loss. If ongoing repairs require you to live elsewhere or the apartment can’t be heated by other reasonable means, loss of use could apply.
Does Renters Insurance Cover Liability For Accidental Water Discharge Or Overflow?
If your bathtub overflows because you weren’t paying attention, you’ve caused a covered loss. The same is true if the overflow is because your two-year old shoved something in the drain. This is where the liability portion of your coverage shines. There’s no real damage to your personal property. The bath mat was designed to get wet, after all. But there may be damage to the floors or even the ceiling below. Liability coverage on your renters insurance can pay to defend you against a claim that your accidental water overflow caused damage to the building. If your negligence was the direct cause of the loss, liability pays for the loss as well. When something like this happens and you might be responsible, you make your insurance company aware of it. The company takes it from there.
Your Duluth, MN Renters Insurance company determines the facts of the loss, determines the damage, and pays to defend you if necessary. If warranted, the company will pay for the damages or settle the claim up to the policy limit for liability. This limit is usually at least $100,000 though $300,000 of liability coverage is quite common. Beware, there are some companies selling as little as $50,000 of coverage for liability. That’s simply not enough to cover any loss worth making a liability claim over. Insist on at least $100,000 of coverage for liability. The difference in cost is a few dollars a year, and the extra coverage brings significant benefits.
How Can I Buy Renters Insurance Today With Instant Proof Of Coverage?
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