For tenants, acquiring renters insurance is a prerequisite. It covers damages incurred to your personal items, or if you accidentally cause injuries to other people in the rented property.
An important question to discuss is whether your renter’s insurance pays for any costs incurred due to damage from a fire or other fire-related risks. Aside from the loss of property, numerous interruptions to life can add up from the fire incident.
Continue reading the article below as we will explore everything about renter’s insurance policy and its associated with fire damage. We will also cover some simple fire risks and how to avoid them.
Coverage of Renters Insurance on Fire Damage
Much like how business insurance shelters a company from risk, renters’ insurance protects tenants from financial loss. In short, renters’ insurance seems like a good idea as it protects your belongings, but how precisely does it work in regard to fire damage?
● Coverage for Personal Belongings
If your personal belongings suffer damage from the fire, the renter’s insurance you purchased will likely provide coverage for them. Coverage usually includes furniture, electronics, clothes, and other items such as kitchenware.
The policy pays you up to the coverage limit for repairs or replacement of the affected items. In order to file your claims, it would benefit you to create a detailed inventory of your assets.
● Coverage for Temporary Living Expenses
If your rented property gets damaged due to a fire, you will be compensated under your insurance policy. For example, if hotel accommodation or meals are required while your house is getting repaired, this additional living expense can also be claimed under more extensive coverage.
● Coverage for Liability Claims
Even though you may start a fire by accident that destroys someone’s house or something in their home, a renters insurance policy normally includes coverage for such liability issues.
For damage caused as the fire spreads to another apartment home, your liability coverage should assist with the legal bills and the damages incurred during the event.
Examples of Exceptions to Renter’s Insurance
Keep in mind that there are exceptions to renters insurance, as some only cover selected fire damage. Most policies would cover damages incurred due to a fire breaking out from accidents.
They may not safeguard against fires that are intentionally caused or are a result of negligence. For example, if a candle was left behind and ignited a fire while there was no one present in the room, your policy might not cover the damages.
Avoiding negligence is essential as some landlord-tenant disputes start with property damage due to negligence. Hence, it is important to always read the fine details of your policy so you understand what’s covered in case you end up in this situation.
Common Examples of Potential Fire Hazards
Hiding in the bounds of a home can be a potential fire hazard, and knowing about them is the key to avoiding such hazards. Let’s go through a few everyday fire hazards that will help you narrow down the possibilities.
Kitchen Fires
Kitchen fires are one of the main reasons why people’s houses catch fire. Leaving food unattended, grease spills, or using defective tools can lead to it. Always make sure to avoid putting flammable items near anything hot.
To be safe, note that setting heat alarms or ensuring a fire extinguisher is in the kitchen can prevent small blunders from turning into big problems.
Electrical Fires
Common causes of electrical fires include broken home appliances, poorly maintained wiring, and overloaded sockets. Ensure to always take precautions against electrical fires by regularly inspecting your electrical systems, making use of surge protectors, and not overloading your plugs.
Heating Equipment
Heating equipment such as space heaters and fireplaces can also cause an electrical fire if not used properly. In this case, making sure that heaters are not blocked or that fireplaces are properly maintained can go a long way in preventing a fire.
For more safety, consider adding fire screens installed in front of fireplaces to reduce the risk of fire but it is important to never leave unattended electric equipment.
Candles and Smoking Materials
Candle holders that are not secured can cause curtains and furniture to catch on fire, especially if those materials are flammable. If more than one candle is set up, always ensure that they are properly extinguished before leaving a room.
Most younger adults no longer smoke, but for the ones that still do, a safe practice would be smoking outside and letting the cigarette go out by itself.
Faulty Appliances
Regularly inspect your old or damaged appliances as they bring a great risk of causing a fire. Try to not use appliances that have frayed cords or those that often overheat. Always clean and maintain your appliances to help prevent appliance-related fires.
These examples are just a few of the several hazards you may encounter while in a rental property. Being aware of these hazards can help you take necessary precautionary measures to prevent fire.
How to Minimize Risk to Prevent Fires
Landlords and tenants must work together in order to keep rental properties safe from fire hazards.
Landlords in this regard need to regularly check the properties, install necessary equipment such as smoke detectors and fire extinguishers, and offer fire education to tenants. In this case, it’s best to hire a dedicated Atlanta rental property manager to schedule routine inspections and prevent possible fire hazards in your property.
On the other hand, tenants must also take care of other risks, such as being careful when using open flames, reporting any faulty electrical wires, and knowing where the emergency exits are. It is also very important to develop safe cooking behaviors, never leave food unattended, and properly maintain electrical equipment to avoid danger.
Conclusion
A renter’s insurance offers coverage on any unfortunate incident that may happen such as fire. It also covers implications such as temporary living and liability claims when your house becomes uninhabitable due to the fire. Property inspections should be done regularly by landlords and fire safety equipment should be installed at homes. While tenants can maintain safe practices and report any safety issues as quickly as possible.
