Important exclusions to understand in your renters policy

Like a homeowner, a renter must carry an insurance policy to protect against liability claims and their belongings. While shopping for a renters policy, it is critical to understand some of the main exclusions in your policy.  Below is a list the agents at THINK Insurance & Financial Services put together of the coverages you should be aware might be excluded from your renters’ insurance policy. 

Earthquakes

Most people assume an insurance policy covers a natural disaster such as an earthquake, but in reality, they are often excluded from renter insurance policies. Residents in the Pamona, CA area may have particular concerns about earthquakes. It is critical to understand if you have coverage under your policy. 

Valuables 

While a renters’ policy should cover most of your personal property, some items might be excluded, and you will need to ask for coverage specifically. Items typically excluded are considered valuable, such as computers, jewelry, and fine art. 

Roommate coverage 

Do not make the mistake of assuming that your policy will cover both your and your roommates’ property. If you want your roommate covered under your insurance, you will want to add them to the policy and make sure their property is listed as insured. 

Dog bites 

While some insurance companies provide coverage for harm caused by a dog, such as a bite, it is vital to confirm that you have the coverage. It will be crucial to make sure your policy provides coverage if you have a dog considered an aggressive breed, such as a pit bull. Even insurance companies that provide coverage for pets often exclude certain breeds. 

If you want to learn more about what is covered under a rental insurance policy, reach out to an agent at THINK Insurance & Financial Services today. We proudly serve the Pamona, CA area. 

 

Earthquake insurance and your condominium

California has almost 16,000 known earthquake faults, and earthquake insurance is not included with a standard condominium insurance policy. If an earthquake damaged your condo, you would not have any compensation to make repairs if you do not have an additional earthquake policy.

THINK Insurance & Financial Services in Pomona, CA, could be the insurance company that helps you with your earthquake policy because we care about giving you the additional coverage help you need as soon as possible because you need this to have a standard condominium homeowner’s experience. Call them today to get the help you need with your policy.

This residential earthquake insurance additional coverage offers:

  • repairs to your condominium
  • living expenses for alternative housing while repairs are being made to your condominium following an earthquake
  • replacing contents damaged by an earthquake

You would not pay your deductible yourself to receive payment on an earthquake claim. It would be taken from the compensation for the damages to your condominium, so you would not need to pay a deductible upfront.  

 You could also buy a Building Property optional coverage that protects built-in items of your home, such as appliances, fixtures, and wall-to-wall carpeting. 

You may get the Loss of Use coverage, which is optional, that pays for living expenses if earthquake damage to your condominium or an order by a civil authority after an earthquake causes you to need to live elsewhere. There is no deductible for this additional policy type.

Call THINK Insurance & Financial Services in Pomona, CA, to get the help you need with this additional earthquake policy.