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Insurance commissioner explains flood protection for renters

Updated: Jun. 8, 2021 at 5:45 PM CDT
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BATON ROUGE, La. (WAFB) - It is important to understand that a landlord’s insurance policy generally does not cover a tenant’s damaged items by a flood event or the costs associated with vacating the apartment or home. It only covers their building.

Renter’s insurance also does not cover personal items in the event of a flood. Renters who want to protect belongings from rising waters will need to get a separate flood insurance policy.

“The best insurance to buy for any property owner or tenant anywhere in our state is the still significantly subsidized by the federal government, National Flood Insurance Program,” said Louisiana Insurance Commissioner Jim Donelon.

Donelon said because the program is federally funded, renters do not have to shop around because rates are set depending on the area they live in and are divided into low, moderate, and high risk.

“Renters have lower coverage. It’s a maximum of $100,000 and therefore are even less expensive than low-risk residential policies for homeowners,” explained Donelon.

According to FEMA’s website, the average flood policy for renters starts at less than $100 per year.

Contact the NFIP at 1-800-427-2419 or CLICK HERE to set up a policy.

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