3 Ways Renters Insurance Helps After a Fire

6/9/2022 (Permalink)

After a fire, here are three ways renters insurance might help.

A fire can quickly come out of nowhere and devastate your life and home. You might think you don't need to get insurance when you're renting because the homeowner's policy will cover everything in your Bal Harbour, FL, home. However, their policy will cover the structure, not you and your things. Here are three ways renters insurance will help you after a fire. 

1. Fire Damage to Personal Belongings

Whether from the flame, smoke, or fire control methods, you'll find that your belongings suffer a lot of damage after a fire. Before you begin throwing anything away, it's essential to take pictures and keep a list of everything damaged in the fire. Your insurance company will work with you to reimburse you for everything up to your coverage limits. The insurance company will pay you the cost it would take to replace the item now, instead of how much you paid for it when you originally purchased it. 

2. Liability for Damage to Others

Fires can quickly spread, causing damage to the buildings and people around you. If someone is hurt or their property gets damaged by fire from the property you lived in, your renter's insurance policy can help cover their expenses. The liability insurance will cover their medical costs and the expense of replacing any of their belongings that the fire destroyed. 

3. Restoration Services

Even if the fire didn't burn something, that doesn't mean the item is still in usable condition. Smoke and soot can find their way into tiny crevices and cause irreparable damage if not quickly and adequately addressed. Your insurance policy will cover the cost of fire restoration services to clean and restore your items to like new, which can often be most cost-affordable than replacing them. 
Even a small fire can ravage your life and your savings account. However, you'll have comfort knowing that you have less to worry about when you have renters insurance.