Do You Need Earthquake Renter's Insurance?

Earthquake renter's insurance is a very valuable thing. Unfortunately, it's not the first thing that usually crosses the minds of renters. If renters have coverage, it usually protects their belongings against fires and other common disasters and protects them from being sued by other tenants for damages to other apartments and their contents. It also likely provides some insurance against theft. Insurance policies, however, are very specific things and one coverage will not automatically cover the damages caused by forces outside its scope. If you live in an earthquake-prone area, you should consider this coverage.

If there's an earthquake at your apartment building, your landlord may well be shielded from any damage to your belongings by your lease. There are few landlords who will take any responsibility for such events. This means that tenants are on their own. If you want your possessions protected against the damage that can be caused by seismic events, you have to have earthquake renter's insurance. There's no other way to get any form of reimbursement for your losses in the event of an earthquake, and those losses can be substantial.

Earthquake & Tsunami In Japan

If your building is made unsafe by the event, you'll have to find somewhere else to live in addition to repurchasing all of your belongings. Some policies can offer coverage for the expenses associated with being displaced. You should consider whether or not you realistically have the resources to take care of yourself in the aftermath of such an event and, if you do not, you should have this type of coverage. You may need it from a separate source, but you want to make very certain that you take these disasters as seriously as they merit. Recent earthquakes should be enough to convince you of how much damage these events can cause.

Earthquake renter's insurance, to top it all off, is very cheap. When it comes down to it, insurance companies aren't taking much of a risk with renters. Renters, typically, have far fewer possessions to replace than do homeowners, and rates generally reflect this. For the renter themselves, however, the loss of all of their possessions would be a disaster. In an earthquake, this can happen in seconds. You'll have to rebuild after one of these events and, if you have good insurance, you'll have some help getting back on your feet and back to your life.

Do You Need Earthquake Renter's Insurance?