Does Renters Insurance Cover Flood Damage?

Renters insurance is a type of personal insurance policy. It protects your personal belongings against damage or loss, and also protects you if someone is injured as a result of your negligence. 

Unfortunately, renters insurance doesn't typically cover flood damage. Before you sign your lease agreement, you should be well aware of what's included in renters insurance and what's not. In most cases, you can purchase separate flood insurance to cover flood damage. 

Luckily, an independent insurance agent can help you get the renters insurance you need. A local agent can also help you supplement coverage where necessary. First, here's a closer look at if, when, and how renters insurance covers flooding.

Does Renters Insurance Cover Flood Damage?

Renters insurance provides financial protection for the loss or destruction of possessions when you rent a house or apartment. With renters insurance, your possessions are covered for losses related to:

Renters insurance does not cover damage caused by floods. 

When Does Renters Insurance Cover Flood Damage?

While your renters insurance policy doesn't cover flood damage caused by flash floods, hurricanes, river overflow, runoff, mudflow, erosion, or other catastrophes, it may cover various other types of water damage to your personal property. 

Damage caused by wind-driven rain, for example, is likely covered by your renters insurance. This could occur when rain enters through a wind-damaged window, door, or roof, allowing rainwater in and damaging your possessions.

And in cases of sewer backup, if the sewer backup is the direct result of flooding, your renters insurance won't cover it. If the backup is caused by some other problem, your renters insurance may cover it if you've added sewer backup coverage to your policy with a special endorsement. 

Can Renters Get Flood Insurance?

Renters can buy flood insurance for their personal property from the National Flood Insurance Program (NFIP) and from some private insurers. Renters need to buy enough contents coverage to protect the total value of their personal belongings stored in their rented home in case it gets damaged or destroyed by a flood disaster. 

Your landlord's insurance policy covers the building's actual structure against flood damage. Renters can buy up to $100,000 in flood coverage for their personal items through the NFIP. If this isn't enough coverage, you might need to buy private flood insurance.

NFIP renters flood insurance provides actual cash value coverage for your personal items. This type of coverage factors in depreciation. So, if you have to file a claim for a destroyed living room furniture set after a flood, you can receive compensation up to the current value of each piece. That means that you may not receive enough of a payout to fully replace your furniture set after the disaster.

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What Does Renters Flood Insurance Cover?

Flood insurance from the NFIP protects your personal possessions in the event of a flood. Your policy won’t cover any damage to your actual building; it’s your landlord’s responsibility to purchase building flood insurance. 

You can purchase up to $100,000 in contents-only coverage for your belongings. It covers your furniture, clothes, television, computers, rugs, and electronic equipment. It also covers the following if they are your belongings and not provided by your landlord:

• Curtains
• Washer and dryer
• Portable and window air conditioners
• Microwave oven
• Valuable items such as original artwork and furs (up to $2,500)
• Food freezers and the food in them

You may be able to purchase endorsements, schedule various items, or increase your coverage if you have a lot of valuable personal belongings. You'll likely find coverage variations from private insurance companies. 

Make sure to work with an independent insurance agent to get the appropriate amount of flood insurance for all of your personal property.

What Doesn't Renters Flood Insurance Cover?

As with any type of coverage, there are various exclusions to renters flood insurance that you should be familiar with before you ever try to file a claim. Renters flood insurance typically doesn't cover the following:

• Additional living expenses: Unlike homeowners insurance, if you need to stay somewhere else while your rented home undergoes repairs following a flood disaster, your renters flood insurance likely won't cover these costs.
• Cash and valuable papers: Renters flood insurance typically doesn't cover lost, damaged, or destroyed cash, stock certificates, and other important paperwork after flood events, so be sure to keep these secured in a waterproof safe.
• Personal items in basements: Most personal property stored in a basement that gets damaged or destroyed by a flood typically isn't covered by renters flood insurance, with the exception of washers, dryers, AC units, and a few other items.
• Your vehicle: Renters flood insurance isn't designed to protect your car, but if you have comprehensive coverage included in your car insurance policy, you may be eligible to receive compensation for flood-related damage.

An independent insurance agent can help you review your flood insurance policy to be certain of what's covered and what's excluded before a disaster occurs.

Do I Need Renters Flood Insurance?

You might not be required to get flood insurance as a renter, but it can be a wise decision in many cases. If you live in a high-risk flood zone or even in a moderate-risk zone, having coverage can end up saving you a lot of money in case of a flooding disaster. 

Renters who live in areas prone to flooding, such as along a coast, near a large body of water, or in a location that gets a lot of hurricanes, tsunamis, and other natural disasters may want to strongly consider getting flood insurance to protect their personal property.

How Much Does Renters Flood Insurance Cost?

Renters in low-risk areas can find flood insurance policies for under $100 per year, on average. Renters in high-risk flood areas can pay thousands of dollars per year for flood insurance. The cost of your policy can vary, however, depending on a number of different factors, such as:

• The flood risk for your property
• The deductible and the amount of contents coverage
• The location of your structure
• The design and age of your structure
• The location of your structure’s contents (e.g., whether your utilities are elevated)

An independent insurance agent can help you find the most affordable flood insurance for renters in your area.

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Our independent agents shop around to find you the best coverage.

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Why Work With an Independent Insurance Agent to Find the Best Renters Insurance?

An independent insurance agent knows which local carriers offer the best policies at the most affordable rates. They'll shop and compare renters insurance policies for you to find the one that works best for your unique needs. 

Even better, they'll still be there for you if and when claim time comes. Your agent can file claims for you and change or update your coverage down the road.