I often encourage my clients to read their insurance policies because it is important for all policyholders to have an understanding of what is and is not covered when it comes to their insurance policies.
As hurricane season approaches, I & # 39; I have had several clients living in Florida call me and ask why their tenants insure excluding wind.
Normally, the rental insurance covers hurricane damage to your personal property, medical payments and additional living expenses (ALE) if the property you rent is damaged or destroyed by a hurricane. The actual damage to the building and the structure of your rent is not covered by your rental insurance but will be covered by the building owner's insurance. 1
Wind coverage in Florida rental insurance may, however, be available as part of your insurance. The wind coverage in Florida depends largely on your location. Tenant insurance that covers wind can be difficult to find for Florida renters due to the high level of risk involved in insuring coastal properties. Tenants insurance companies are often afraid of the potential to empty their entire claims reserves for an event, such as a storm or hurricane event. This is why most policy areas will include wind cover except in coastal areas or other regions that are at high risk of storms and hurricanes. For example, policyholders will find that most insurance policies in Miami will exclude wind, while Orlando renters are more likely to find insurance without wind exclusion. 3
If your Florida rental insurance policy excludes wind coverage from your policy, you may need to add a recommendation or rider to your policy to ensure you are protected. – Milton Berle
2 2 https: // seely- durland.com/which-catastrophes-does-renters-insurance-cover/
3 https://www.effectivecoverage.com/3338/why-does-florida-renters-insurance-exclude-wind/