Winter is in full force, but with ResidentShield renter’s insurance, you can rest assured that you’re comprehensively protected. Let’s delve into the details and understand the full extent of your winter coverage.
Winter storms can be detrimental to renters and owners alike. Common concerns are power outages due to storms, which can lead to spoiled food, surge damage to electronics and frozen pipes. ResidentShield reminds you of the serenity of sound insurance coverage for all policyholders. You have full coverage in the event of weather-related issues.
Remember, you must take a few steps if your property is damaged during the winter season: Take photos of the damage and start a claims process as soon as possible—call your insurer or fill one out online or by mobile app. The claims process involves providing details of the damage, submitting the necessary documents, and waiting for an adjuster to inspect the damage. Do whatever you can to prevent further damage, but don’t start any work until someone from your insurance company has inspected the damage.
Personal contents are covered with ResidentShield, but it’s essential to understand the difference between replacement cost and actual cash value (ACV) coverage. ACV will cover the damaged item based on its current price, which may be significantly lower than what you originally paid. For example, if you bought a new iMac desktop computer for $2000 a few years ago, now it may only be worth $1000. With ACV coverage, you will only receive that amount. However, if you have replacement cost coverage, your payment will be sufficient to purchase a new item like the one you lost, regardless of its current value.
Heating mishaps and winter fire safety. Always be aware of space heaters and candles that increase the risk of house fires in the winter. Keep heaters away from flammable materials. Ensure the smoke detector is working correctly before the winter storm. Bathroom heaters should never be left on when unoccupied since they quickly start attic fires. Keep the heat on at least 60 degrees so the space stays warm. Avoid overloading circuits; do not use too many appliances on one outlet.
Frozen pipes are a common winter problem that can burst, causing significant water damage to personal belongings. To prevent this from happening, when the temperature drops below freezing, drip faucets so they won’t freeze and burst once it warms back up. Keep the cabinets open for the warmer air to flow below. If you are going out of town and have access, turn off the water entirely in case the pipes burst while away. Additionally, insulating your pipes and sealing any drafts can help prevent freezing.
If water or fire damage occurs during a winter storm, remember that ResidentShield has your back. If your apartment or condo becomes unlivable, temporary housing is available. This safety net, in the form of Additional Living Expenses (ALE), covers temporary lodging, food, and transportation expenses, providing you with the support you need during a challenging time.
Snow and ice damage to vehicles. Remember the common misconception that many renters believe renter’s insurance covers all damage, including car-related incidents. Renters insurance covers theft in cars but does not cover snow, ice or falling branches on vehicles, which is where auto insurance will fall into place. Check auto insurance policies for comprehensive coverage. When a storm is coming, keep items safe during the winter by bringing anything you wouldn’t want to freeze inside.
Slip and falls. If having a visitor over and they slip and fall on icy stairs or sidewalks leading to your unit, liability coverage is there to cover for them. Personal liability coverage will cover medical expenses and legal fees if someone sues. Depending on lease agreements, the property owner and maintenance team should be responsible for clearing ice or snow. If it falls to the renter to be accountable, use salt, non-slip mats and clear signage during the winter weather.
So stay warm and safe this winter season, and rest assured that ResidentShield is there for you.
