What Is and Is Not Covered by Renters Insurance After a Fire?
What Costs Your Rental Insurance Will Cover
If a fire occurs in your home in Hooper's Creek, NC, it’s common to feel overwhelmed and not know what to do next. Not understanding what your renters insurance covers can add to your stress. However, once you know what is covered, it can be easier to start restoring your home.
1. Items in Your Home
Even smaller fires can destroy valuable personal items within your home. Regardless of the cause of the fire, the majority of the items in your home should be covered. Make sure to check your policy and speak with someone at your insurance company to find out if you can receive compensation to replace the items you lost. This differs from receiving the actual cash value of your items, which may include decades-old furniture whose value has depreciated.
2. Temporary Housing
The process of fire restoration can often be time-consuming, and it’s important not to put yourself at risk by staying in an unsafe home. The cost of temporary housing can quickly become expensive as you stay somewhere that is safe and clean. Luckily, your renters insurance should cover the cost of your temporary housing. Wherever you stay while your home is being inspected and restored, keep any receipts or other pieces of documentation to show the cost of your housing.
3. Home’s Structure
Regardless of the cause of the fire, if the structure of your rental home has sustained fire damage, this is not covered by insurance. Insurance may cover what was inside the home, but you as the renter will likely be responsible for the cost of the home’s structure. Speaking with your insurance company may help you understand steps you can take to insure the cost of the home itself.
Knowing what costs your renters insurance will cover can allow you to begin the restoration process sooner. When you are repairing your home, it can be smart to work with restoration professionals who have experience with homes that have been damaged by fires.