If you rent a house or apartment in a hurricane-prone area, you should think about purchasing renters insurance. Renters insurance is a good idea for just about any renter, and it can be particularly helpful for those who live in areas that are often affected by tropical storms or hurricanes. These are a few tips for buying this coverage.
1. Make Sure You Have Enough Coverage
If the hurricane-force winds damage the roof or windows of your rental, you have to worry about your belongings being seriously damaged. If you do not have enough coverage to cover all of your most valuable belongings, then you and your family could take a major financial hit, and you might have trouble paying to replace everything. Buy enough coverage to cover all of your belongings, and make sure that all of your belongings are documented in case you need to file a claim.
2. Sign Up for Flood Insurance
Just as most homeowners insurance policies do not cover flood damage, many renters insurance policies will not cover any belongings that are damaged in the event of a flood. It is a good idea to purchase contents-only flood insurance if you are concerned about the possibility of flooding during a hurricane. In some cases, flooding becomes a widespread problem in areas that have been affected by hurricanes, even in areas that are not designated as flood zones. It's important to prepare for this if you can since flooding can cause serious damage to the belongings that are kept in your rented home or apartment.
3. Look for a Company That Covers Evacuation Costs
As you might already know, mandatory evacuations are a part of life when you live in a hurricane-prone area. Leaving the area is often the best course of action so that you can keep yourself and your family members safe. Unfortunately, though, evacuating can be expensive, so you could find yourself wondering how you will cover the costs.
In some cases, renters insurance will cover some of your costs -- such as a hotel room -- in the event that there is a mandatory evacuation in the area. This is not true with all policies, so you will need to read the language in the policy or talk to someone from the insurance company to be sure. If possible, you may want to look for a policy that offers this coverage so that you and your loved ones will be able to get to safety before a hurricane hits without worrying about it wrecking your finances.