LAFAYETTE, La. — Hurricanes, flooding, and severe weather impact everyone, making it crucial for both renters and homeowners to be prepared.
Michael Smith, a State Farm agent with 40 years of experience, spoke to KATC about the critical importance of having renters insurance and other necessary coverages.
"There are so many things that can happen," he says, mentioning potential threats such as storms and power surges.
"The most important thing to remember about renters insurance is that it covers pretty much the same perils as a homeowners policy, with exceptions. While the homeowners policy covers the dwelling and the content, a renter's policy only covers the content."
However, renters insurance typically does not cover damages caused by floods, underground water, earthquakes, and mudslides, according to State Farm. Renters may require additional coverage to protect against these specific risks and others.
"Most landlords have flood insurance, but that's to cover their building, their dwelling," Smith tells KATC. "Their flood insurance will not cover your content. So if a tenant, whether in a house or an apartment, wants to have their belongings covered, they need to purchase their own flood insurance contents."
According to FEMA, the National Flood Insurance Program provides flood insurance to property owners, renters and businesses, and having this coverage helps them recover faster when floodwaters recede. The NFIP works with communities required to adopt and enforce floodplain management regulations that help mitigate flooding effects.
Flood insurance is available to anyone living in one of the 22,600 participating NFIP communities. Homes and businesses in high-risk flood areas with mortgages from government-backed lenders are required to have flood insurance.
Smith notes that making sure you’re covered in case of severe weather is invaluable and may be more affordable than you think.
"Another common claim we have is power surges and lightning. If it blows out your appliances, that would also be a covered peril. An average renter’s policy can range anywhere from $12 to $18 a month, very inexpensive depending on what you have. It's a very small cost."
For renters wanting to ensure they are prepared before disaster strikes, Smith offers the following tips
- Take pictures of your belongings and the interior of your rental to have documentation if you need to file a claim.
- In case of flooding, put personal or expensive items up high to avoid water damage.
- If you are a renter, be in communication with your landlord
To read our other stories on hurricane season so that you can be prepared, click here and here.
