06 May 2014 The Risk of Flooding For Renters

With all of the severe weather and flooding going on around the United States, it’s hard not to think like an insurance agent. Don’t wait for the heavy rain to move in and take over your apartment – be sure that you’re protected from the risk of flooding for renters. Don’t think that it won’t happen to you! No matter if you rent or own your living space, I assure you – flooding can happen to you.

Flooding | MassachusettsWhen the water begins to rise and panic sets in – flooding can ruin things that won’t be covered by your renters insurance policy. Protect your life and your things. You’ve worked hard to get where you are. Although flood insurance is not federally regulated for renters, meaning you won’t need to purchase the coverage by law; flood insurance options are available for renters. Since you don’t have a financial stake in the building structure that you’re living in – you’ll want to invest in contents only flood coverage.

Contents only flood insurance is pretty much exactly what it sound like. Renters are provided the protection of flood insurance for only the contents within their living space.

Contents Only Flood Insurance Truths:

  • Building coverage isn’t provided – only your contents, or personal belongings, are covered.
  • Temporary relocation expenses are not covered.
  • Regardless of the flood zone designation, or the construction date of the property – contents within the basement area will not be covered.
  • All flood insurance policies have a 30-day waiting period.
  • As with homeowners insurance, certain valuable items have limits. For example, furs.

To get more information about insuring your contents with flood insurance coverage, contact one of our Client Success Manager’s today. We look forward to hearing from you.

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*Authored by Amanda Spittell.

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For more information about this topic, or to get answers about your current insurance situation, stop our office in Franklin, Massachusetts or give us a call at (800) 941-3317.


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