Moving into your rental property can be truly exciting. After a long period of searching, you’re finally moving into your new home for the foreseeable future. But what happens if you damage or break something? Or what happens if there’s a different accident? By ensuring you’re fully aware of the processes and workings of renters’ insurance you can get peace of mind.
What should I do after an accident?
If something breaks or is damaged you should contact your landlord, or consult your rental agreement, to find out what you’re covered for.
Usually, the landlord will be responsible for repairing plumbing, or any kitchen appliances that come with the property.
Although, if you’ve accidentally broken any of these items, you might be liable to cover the cost. You’ll be responsible for any damage to your personal belongings though.
The only exception will be if the property was in an unsafe condition, that led towards the damage of your belongings. For example, if a pre-existing plumbing fault caused water damage to your personal electricals, you might be able to make a claim. If your laptop is damaged, you’ll most likely need renters’ insurance to cover your belongings though.
What’s covered by renters’ insurance?
There are a few different types of renters’ insurance. You could get liability insurance, which will cover accidental damage to your landlord’s contents. Meanwhile, Tenants’ content insurance will usually take care of your personal belongings, as well as money in the house (up to a certain limit) and the price of changing locks if there has been a break in. Just make sure you thoroughly check your policy to see what the maximum value protected by the insurance package. For clarity on this, you can check the paperwork or give the company a call.
How do you go about making a claim?
In the unfortunate situation where you have to make a claim, you should call your insurance provider. Ideally, if you’ve selected a reputable provider, they should walk you transparently through the process. Even if you’ve read through the paperwork, it can be difficult sometimes to work out if you’re covered. By starting the claim process you should get answers at least, as you work through what happened with a representative.
It can be a stressful time when your contents – or the landlord’s – are damaged in your rental property. It’s often overwhelming when you’re unsure if you’re going to be paying an unexpected bill. But you can prepare for it and give yourself peace of mind by arranging comprehensive contents insurance. This way, even if something does go wrong, you’ll be covered.