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Fire & Water - Cleanup & Restoration

Will Renters Insurance Cover Fire Damage?

11/23/2021 (Permalink)

A Home suffered from Fire Damage The best renters insurance policies will cover fire restoration or replacement costs.

Will Fire Damage Be Covered by Renters Insurance?

Renters insurance can cover several expenses associated with a fire in a rented apartment or house. Most policies provide at least some property, liability and loss of use coverage. The amount of coverage may vary. Learn more about what this type of insurance may cover before reviewing the terms of your policy.

Renter's Property

A renter's policy should cover any losses a renter suffers due to a fire. This coverage is limited to the contents inside of an apartment or home and does not extend to the building materials or structure. There are several factors to consider:

  • Does the policy cover replacement cost?
  • Does the policy cover actual cash value?
  • What are the limits?

The best renters insurance policies will cover fire restoration or replacement costs. The actual cash value of electronics or furniture may not be sufficient to restore or replace damaged items.

Liability

Most policies also include a limited amount of liability coverage. This coverage may extend to:

  • Negligence resulting in an accidental fire
  • Injuries to third parties
  • Third-party property damage

In addition to these types of liability coverage, some coverage for medical payments to others may also be available. This is usually a small amount of no-fault coverage.

Loss of Use

Most policies also provide coverage for loss of use. This coverage will kick in if a rental property is uninhabitable, and may be used to offset:

  • Additional living expenses
  • Temporary relocation costs
  • Other necessities

Be sure to review the terms of a renters insurance policy to determine how much coverage will be available in each of these areas. The property owner will need to assess damage and arrange for fire damage mitigation and restoration. If a fire breaks out in a rental property in Anaheim, CA, contact the fire department as soon as possible and notify both the property owner and your insurance provider.

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