When you move into an apartment, you might be required by your landlord to get renters’ insurance and prove that you’ve gotten it. If this is the case, you want to learn as much as possible before you get your policy. Talk to an agent from Wilcoxon Insurance Inc. of the greater Sioux Falls, SD area so that you know what is not covered by your policy.
Here are some common things that aren’t covered by renters’ insurance:
Natural Disasters
Typically, natural disasters like sinkholes, earthquakes, and flooding won’t be covered under renters’ insurance policies. You will be able to set up additional policies such as one that’s specifically for flood insurance.
Automobile Damages
If an item(s) is stolen from your vehicle, renters’ insurance is likely to cover it. However, it won’t apply to any damage that’s done to your car itself. If your entire car is stolen, renters’ insurance also will not cover any replacement for the current value or otherwise.
Undocumented Items
If there are items that you can’t prove you owned or at least can’t prove the value for them, you may be out of luck. You should hold onto receipts at all times, especially for those items that you know you’ll want to have replaced or repaired should something happen to them.
Roommate’s Items
If you have a roommate, but the renters’ insurance is only under your name, their items aren’t going to be covered under your policy. It may be a different case if the roommate is related to you by marriage, blood, or adoption.
Renters’ insurance may be tricky to figure out, but you’ll benefit from discussing your options with a Wilcoxon Insurance Inc. agent. Serving the Sioux Falls, SD area, we are happy to help new customers at any time. Give us a call or fill out our online form to get more information.
