What Does Renters Insurance Cover in a Fire?

2/28/2022 (Permalink)

Fire damage in Wyoming, OH.

What Does Renters Insurance Cover in a Fire?

While you might already know that homeowners insurance covers one’s home and belongings in a fire, you might wonder if the same is true if you rent your home in Wyoming, OH. In short, the answer is yes. Renters insurance does offer coverage if a fire occurs. If a fire ever does hit your home, it is important to learn the specifics of what your insurance covers, so you know what to expect.

What Is Covered?

If a fire occurs, there are several different types of costs that can accrue. That’s why policies cover fire under several different coverage types:

• Personal property: After your deductible is met, your insurance may cover your personal items that were damaged up to a certain limit. Although you should check, most policies offer replacement cost instead of the actual cash value of the item.

• Liability: If a third-party experiences property damage due to a fire you accidentally caused, your renter's insurance can cover it.

• Medical: If someone else is hurt in a fire you accidently caused, a small amount of coverage can go towards the expense.

• Loss of Use: If your home is deemed uninhabitable after a fire occurs and is being repaired by a fire restoration company, your insurance may cover the cost of having to stay in a hotel and other living expenses.

What Isn’t Covered?

Almost every cause of a fire is typically covered by your policy. Of course, fires out of your control like those caused by extreme temperatures, storms, or some other external factor are generally covered. You’ll be glad to know that even a fire you accidentally start is generally covered as well. The only type of fire damage that probably isn’t covered by your insurance is arson or damage due to a fire that you caused on purpose.

Fortunately, renters insurance can be a huge help if a fire ever occurs on a property you’re renting. Every policy is different, so make sure to find out the details of yours right away.