When renting an apartment, you will need renter’s insurance to protect your property in case of damage or theft. It is normal when choosing a policy to look at what it covers, but it is also important to know what it does not cover. Let’s look at the list of events not covered by the renter’s insurance policy set out by the Jet Stream Insurance Group, LLC, serving Miami Lakes, FL.
Two major events that are not covered by the policy are earthquakes and floods. Specific policies need to be purchased to cover those calamities.
If you have pets and they damage anything in your home, it is not covered. However, if your dog chews up your neighbor’s carpet or bites someone inside your home, you will be covered under the personal liability part of the policy.
High-value items like jewelry and electronics often have a coverage limit. Suppose it is too low to replace your most treasured, expensive items. In that case, you may consider buying a policy endorsement to increase the coverage limit in line with these items’ replacement cost.
If you live with a roommate, your policy will not automatically insure their belongings. Ideally, they should have their own policy to cover their possessions; otherwise, they need to be listed under your policy.
Lastly, the act of war or terrorism is not covered by renter’s insurance. If you are worried about a terrorist attack or war striking Miami Lakes, FL, there are add-on policies to cover those events.
Now that you know what is not covered by the renter’s insurance, you can make a better-informed choice when making your purchase. The Jet Stream Insurance Group, LLC consultants can help you choose the appropriate policy cover for your circumstances, so give us a call.