Why Renters Need Flood Insurance Too

Renters Flood Insurance

If you live in a flood zone, adding a flood insurance policy to your renters’ insurance is an excellent idea. It can help you pay for replacing your belongings in a flood. The NFIP and private insurers both offer policies to residents in high-risk areas.


As a renter, you own a lot of valuable items that can be costly to replace if they are damaged or lost. Flooding is a prevalent risk that can be hard to predict. Depending on your location, you may be susceptible to flooding due to storm surges or sewage damage from burst pipes. Unfortunately, renters insurance usually doesn’t cover flood or sewage damage, so you’ll need a separate flood policy to be adequately protected. You can buy a flood insurance policy through the North Carolina flood insurance program or private insurers. An NFIP policy will offer content coverage up to $100,000, while private insurers can offer higher limits. It is essential to inventory your belongings and establish a rough value for them to determine how much coverage you should get. Many insurance companies, such as Allstate, offer home inventory calculators for free online to help you catalog your possessions and estimate their value. The NFIP will typically cover your belongings at their actual cash value rather than their replacement cost, so it is essential to protect your items by storing them in a dry and secure place. You should also store any valuable documents you own in a safe place, such as your passports, birth certificates, or deeds, and make copies you can keep.


Renters insurance protects personal belongings from various water damage risks, like burst pipes or an overflowing toilet. However, it does not cover flood or backed-up sewer damage, so renters need to consider purchasing separate flood insurance coverage. This is available from private insurers or the federally-run National Flood Insurance Program (NFIP). Private insurers may offer renters loss of use flood coverage, which can reimburse you for additional living expenses if a covered peril damages your home and requires you to move out while repairs are made temporarily. The NFIP typically caps its content coverage at $100,000. Whether or not you can get a flood policy from a private insurer or the NFIP will depend on your property’s designated risk line your property’s risk and find a flood policy that suits your needs. Before purchasing a flood policy, inventory your belongings and calculate their replacement costs. You may need to tack on a valuable items rider for expensive items like jewelry, musical instruments, and electronic equipment. In addition, make sure your deductible is set at a manageable amount so you can afford to file a claim in the event of a flood.

Personal Belongings

Purchasing a flood insurance policy could save you thousands of dollars in a catastrophic flood. The cost of a policy also depends on your deductible. A higher deductible will lower your premium, but you’ll need to be prepared for a significant out-of-pocket expense in the event of a loss. The NFIP’s flood insurance for renters covers personal belongings up to $100,000. If you’re worried about the cost of an NFIP flood insurance policy, private insurers may offer lower rates for this type of coverage. As a renter, you might be required to have homeowners insurance to close on a mortgage. However, the same isn’t valid for renters. Many residents live in Special Flood Hazard Areas (SFHA), and the cost of flood insurance is often passed on to tenants by building owners. Buying a flood insurance policy is brilliant for any renter, regardless of whether their apartment is in an SFHA. As a result, it’s essential to know your risk level for flooding, which can be determined by using FEMA’s flood maps.

Personal Documents

Most renters’ insurance policies don’t cover flood damage. Instead, getting a separate flood policy through FEMA or a private insurer to protect your belongings would be best. Most plans from FEMA and private insurers provide up to $100,000 in content coverage. The National Flood Insurance Program (NFIP) is the government’s foremost flood insurance provider. It also provides a map that shows whether your community is in a flood zone. The NFIP covers your possessions on an “actual cash value” basis, meaning the payout will be based on how much your belongings were worth during the flood. A list of your belongings and their value is essential to ensure you’re adequately covered. You should also store any irreplaceable items in a safe deposit box or other secure location.

Protect Your Property

When a flood occurs, it can damage your property in many ways. A single inch of water can cause thousands of dollars worth of damage. Most home insurance policies exclude flood damage, but a separate policy can cover the cost of repairs and replacements. Renters can get flood insurance through the National Flood Insurance Program (NFIP) or private insurers. NFIP policies are available for high-risk areas, while private insurers may offer coverage even for those in lower-risk areas. If you live in a high-risk area, it is highly recommended that you have a flood insurance policy. This way, you can ensure that your belongings are covered against flood damage and that you can recover from the financial loss. For those who own a rental property, renting out a short-term or long-term property can be a great way to earn extra income. However, if your rental property is in a flood zone, you must have the correct type of policy to protect against damages from flooding. Unlike a standard home insurance policy, a flood insurance policy will not cover the structure of your home or apartment. Instead, a flood policy will only cover the personal belongings inside your home. For most, this is a much better option.

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