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Does Renter's Insurance Cover Flood Damage?

Renter’s insurance can protect against the myriad types of damages-events that can strike an apartment, including fire, smoke, vandalism, or theft, reportsThe New York Times. However, as to whether a renter’s insurance covers flood damage, the answer is probably no.

For flood coverage, the National Flood Insurance Program tells The Times, you need a separate policy.

Renter's insurance policies are similar to homeowners' insurance policies but have no coverage for buildings or structures. Renter's insurance typically covers the cost of replacing personal items that are stolen, damaged, or destroyed.

Some renters policies cover legal liability in the event that anyone suffers an injury while on the insured property. Certain actions of the policyholder which occur away from the insured property may also be covered.

Note: The landlord's insurance will probably not cover tenant property losses unless the tenant can specifically demonstrate that the landlord was negligent in some manner.

As to the concern whether you are purchasing legitimate renter's insurance, you can check with the state government. The Massachusetts Division of Insurance monitors the solvency of the companies it licenses in order to promote a healthy, responsive and willing marketplace for consumers who purchase insurance products.

Finally, before moving into an apartment building, you may want to check whether renter's insurance is required, and if the landlord has a relationship with an insurance company to provide favorable rates.

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