HENRICO COUNTY, Va. — A recent fire at the Darby House apartments in Henrico that displaced dozens of residents is serving as a reminder for renters to take a closer look at their insurance coverage.
Patrick McCloud with the Virginia Apartment Management Association says a landlord's insurance protection does not extend to tenants.
"Always pay attention to the insurance provisions in your lease, what is covered, what is not covered," McCloud said. "Their insurance does not cover your possessions, and if you wish for coverage you need to get your own renters insurance."
McCloud says there are three different types of coverage a tenant can receive through renters insurance.
The first is liability coverage, which protects a renter if someone files a claim against them for an emergency they are at fault for.
Personal property and possessions coverage helps protect against belongings that may have been lost, either at replacement cost or depreciated cost depending on the policy.
"Many policies will cover expenses related to relocation, for example if you have to go to a temporary stay somewhere, your renter's insurance can kick in and pay for those temporary stay locations," McCloud said.
In subsidized housing, where renters insurance is often not required, McCloud says state law passed in 2019 requires every renter to be notified of that fact.
"They will receive that notification from the landlord that the landlord's insurance does not cover them and that they should look into renters insurance," McCloud said. "Most policies are going to run between 100 and 150 dollars range, probably somewhere in the middle of that, but that gives you the peace of mind."
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