The AAA renters insurance is designed and made available for tenants renting a property for the sake and safety of the tenants alone. In most cases, the landlord has his own insurance but the coverage doesn’t include any theft or damage to the tenants’ belongings. To protect his own belongings, a tenant should have a renter insurance – and the AAA provides such a thing.
AAA Renters Insurance: The Coverage
Having the renter insurance can be quite complicated than you have expected. For instance, you need to meet the deductible before you can get the reimbursement. And how much you can get for the replacement cost depends on the coverage on how much money is needed for the repair or replacement of the missing or the damaged items.
If you don’t want to deal with the replacement cost, there is also the so called actual cash coverage paying the current value of the items. That’s how the AAA renters insurance can be complicated.
So, in general, what does the AAA renters insurance cover, anyway?
- Theft. In general, this insurance will protect your personal belonging wherever your items are. Even when you are traveling and you have the items with you, you will be covered. Theft coverage includes bicycle but not a car. However, if you lose some of your items kept within the car, you can claim for their worth because the insurance will cover for the items – not the vehicle itself.
- Mold. Property damage caused by mold is generally insured but it depends from one insurer to another, and it depends on different states. Although mold is included in the coverage, the amount may not be high.
- Flood or water damage. In general, a flood caused by a water leak or faulty pipe (that leads to water damage) will be covered by the insurance. But a flood caused by exterior sources, such as natural disaster, won’t be covered. If you want to protect yourself against exterior flood, you need to buy a separate coverage from a private insurer or the National Flood Insurance program.
As it was mentioned before, the AAA renters insurance is quite complicated and complex so be sure to really understand the terms and conditions before you decide to have one.