When you are renting a property, you may or may not be required to get renters’ insurance. Even if your landlord or apartment board does not require renters’ insurance, it is still a vital investment for any renter.
What Is Renters’ Insurance?
Renters’ insurance provides for you in the event of loss of or damage to the property. This means it covers damages to your home or apartment, such as broken windows or fire damage. In particular, it often refers to damage as the result of an emergency situationlike fires, floods, or a break-in. If your rental property sustains damages, your rental insurance policy will cover the cost of the repair. A policy like this has the potential to save you thousands of dollars, so it is unwise to skip it.
What Does Renters’ Insurance Cover?
Under a renters’ insurance policy, you can also insure specific items that you own. These are usually items of value, such as jewelry, electronics, musical instruments, and your other expensive belongings. If they are lost, stolen, or damaged during an emergency, your insurance policy will cover the cost of these items.
Many renters have questions about the specifics of their policy coverage, however. For example, does renters’ insurance cover appliance repair?
Appliances, like any piece of personal property, can be damaged in an emergency. This means that you will need to get them replaced. And that, of course, can be expensive.
What Do We Mean by Appliances?
Appliances refer to all the things in your house that are used as tools for everyday life. This can refer to your refrigerator, toaster, oven, bathtub, toilet, or more. However, they must be located inside your actual property. Some rental insurance policies also cover the cost in part of replacing appliances that are damaged in a storage unit.
The good news is that most renters’ insurance policies do cover the cost of appliance repair or replacement. There are a few caveats, however. Appliances must physically be located inside your property. You may be partially covered for appliance repair on items that are kept in a storage unit and damaged there. However, if you take an appliance somewhere else besides a storage unit or your own property — such as in your car or at your workplace — it would not be covered by your renters’ insurance policy in the event of an emergency.
How Should You File a Claim for Appliance Repair?
If you have an appliance that was damaged in an accident in your rental property, there are a few steps to applying for help. The first thing to do is to generally be aware of the value of your insured items. You do not need to know the exact amount, and your insurance company will have your estimates on file. Take pictures of the damaged property so that your insurer can review it when processing your claim. Doing so will help you get the cost of your appliance repair covered.