Renters' insurance is designed to cover your personal belongings against loss or damage due to fire, lightning, smoke, theft, vandalism and others. Therefore, if there is a fire in your flat, your personal belongings should be covered. If for some reason your landlord's insurer claims against you for damages, your renter' s insurance company should help you handle the situation. Special items, such as high-end electronics, special jewellery, furs, fine art, firearms, special bicycles and cash, may not be covered by renters insurance in case of theft.
The other half of renters insurance is liability coverage, which also applies when there is fire damage. If you are thinking of leaving your rental because of damage, first contact your renters' insurance provider and take detailed photos of the damage. If your insurer considers that you are responsible for the resulting damage, your renters' insurance will pay your liability. As far as insurance claims are concerned, the earlier the claim is filed, the more likely it is that the process will go smoothly.
In the event of a fire in your rented home, any damage to your belongings caused by the fire or subsequent smoke will be claimable under renters' insurance. Most renters' policies include a loss of use portion that covers living expenses in the event that the dwelling is rendered uninhabitable by fire and smoke. Your landlord's insurance policy will then step in to reimburse for repairs to structural items in your rental. This is a great question, especially since fire is one of the most common risks in renters' insurance policies.
Renters insurance is a type of homeowners insurance that replaces your belongings if they are damaged or stolen. We always recommend that tenants and landlords have a pre-established inventory of everything they own, as well as its probable value. If there are other related losses that concern you, talk to an independent insurance agent to discuss policies and risks covered in more detail. For example, when a fire breaks out in your flat, your insurer - through renters' insurance - will indemnify you only for the cost of your property in the building.
Your landlord has insurance that covers the building and structure, but your belongings inside the rental unit are your responsibility.