Does Renters Insurance Cover Appliance Repairs?
Does Renters Insurance Cover Appliance Repairs
Today, the strangest thing happened to me: I met a neighbor I had never met before, and we became friends because we both hated doing laundry. Small talk at its finest. But while discussing things we don’t want to deal with, we talk about what happens when a metal roof suffers the effects of a hailstorm. Does insurance cover that?
Does Renters Insurance Cover Appliance Repairs. Nowadays, the average renter owns many valuable devices and appliances: televisions, computers, game consoles, household appliances, and more. These devices make our lives more comfortable until an accident or theft occurs.
When a mishap happens, it’s essential to understand what your renter’s insurance does and doesn’t cover, especially regarding your home appliances. It’s also vital to have a proper protection plan in place. Here’s what you need to know about renters insurance for your appliances.
What Is Renters Insurance?
Renters insurance is insurance coverage designed to protect your personal belongings when you rent a home or apartment. It may not cover the physical structure of the home (that’s up to the homeowner), but it can help protect the things you own inside from damage, theft, or loss.
When Does Renters Insurance Cover Equipment?
Renters insurance generally covers the equipment you purchase in the same way you would cover your other property. You would file a claim and the insurance company would go to work.
Coverage can vary and depends on the circumstances, so be sure to read the terms and conditions of your plan to avoid any unpleasant surprises. Some of the most common cases where your renters insurance can protect equipment include:
- Fires
- Water Damage
- Vandalism Or Theft
- Natural Disasters
Which Devices Are Covered By Renters Insurance?
Renters insurance typically covers most major appliances, such as refrigerators and stoves. Some policies also cover appliances you may not consider to be household appliances, such as:
- Televisions
- Video Game Consoles
- Computers And Laptops
- Washing Machines And Dryers
- Mini-Fridges
- Small Cooking Appliances
- Coffee Machines And Espresso Machines
- Portable Fans And Heaters
- Air Conditioning Systems
- Vacuum Cleaner
Does Renters Insurance Cover Theft?
If your renters insurance includes personal property coverage, it can help pay for the replacement of your stolen items. This coverage typically protects items stolen after a break-in at your rental property, or even items stolen outside of your rental property. For example, if your personal property (such as a gaming console) is stolen from your car, the personal property coverage on your renters policy can help pay for the replacement.
Please note that private property insurance usually has a deductible. This means that you must pay a certain amount of money to repair or replace the insured item before your insurer will help pay for the damage.
How Do You File A Renters Insurance Claim For Appliances?
If a device is stolen from your rental property, you should report it to the police.
Next, you’ll need to contact your insurance company. Most renters insurance companies require you to file a claim within 24 to 72 hours of the incident. Make sure you have the following on hand when you file a claim:
- Your insurance policy number or insurance declaration page
- Police report (if you have submitted one)
- Your home inventory with a record of your possessions and their values.
- Damage documentation (photos, videos, receipts)
- A phone number that is easily accessible
After you submit your claim, your insurer will assign a claims adjuster to investigate your claim to determine if it is covered by your insurance policy. Depending on the scope of the claim, this may take several weeks to process. Be sure to check with your insurance company for their claims processing timeline. If your claim is accepted, you will first have to pay your deductible before your insurance company will reimburse you for the remainder of your loss.
Consider Covering Equipment Failures
Appliance Breakdown Protection is a renter’s insurance policy that protects appliances from perils not customarily covered, such as electrical or mechanical breakdowns. Appliance Breakdown Protection protects everything from televisions to dishwashers if they are damaged or broken due to the following incidents:
- Unintentional failure due to incorrect installation
- failure of the printing system
- An artificial electric current, such as an arc.
- Mechanical failure, including breakage or rupture due to centrifugal force.
If your renters insurance offers equipment failure protection, it can be added to your policy for a small additional premium.
Does Renters Insurance Cover Broken Appliances?
Home insurance policies typically do not cover appliance failures or malfunctions. That’s where protection plans and extended warranties come in, bridging the gap between disasters or theft and everyday events like power outages.
What Can You Do To Protect Your Devices?
It gives you hassle-free coverage for your new appliances and those you already have in your home, regardless of the brand or where you bought them. Plus, you get 24/7 troubleshooting support to keep your appliances working correctly even when needed. Find out more about getting protection with complete peace of mind.
Conclusion
FAQ
If your property manager owns your appliances, such as your refrigerator, microwave, and dishwasher, renters insurance may not cover those items. If you live with a roommate, your policy may not cover their technology, either.
A standard renters insurance policy will not cover repairing or replacing a broken furnace. You must purchase additional appliance breakdown insurance to ensure you are financially protected against this risk.
Personal property insurance covers your belongings, including electronic devices, clothing and furniture, in the event of loss or damage. Your belongings may be covered even if you are not home at the time of the loss.
What’s not covered. Unfortunately, renters insurance doesn’t cover all damage. For example, it doesn’t cover natural disasters not specifically listed in your policy, like floods and earthquakes. Renters insurance also doesn’t cover damage related to a personal business.
What does renters insurance cover? Renters insurance covers personal property, liability, medical expenses, and additional living expenses or loss of use up to the amount of your policy. Learn more about what renters insurance covers and the different types of renters insurance coverage available.
