Not all natural disasters are covered by renters insurance policies, and you may need to buy separate additional coverages for earthquakes and floods to protect your belongings should these disasters strike in your area.

“If you rent a house or apartment and experience a fire or other disaster, your landlord’s insurance will only cover the costs of repairing the building. But it won’t cover your personal property. To protect yourself financially, you will need to buy renters or tenants insurance,” says Scott Holeman, Director of Media Relations for the Insurance Information Institute.

Natural Disasters and Renters Insurance

Renters insurance covers your belongings, provides liability protection if someone is injured on your premises, and offers additional living expenses if your rented home is badly damaged and you need a place to live while it is repaired.

But where do natural disasters fit in? Some natural disasters are covered by renters insurance, and some are not.

Covered natural disasters include lightning, smoke, fire, and windstorms. But most renters insurance policies do not cover earthquakes and floods. For insurance protection for those natural disasters, you’ll need to buy additional coverage.

For flood insurance policies, check out the National Flood Insurance Program. You can determine your home’s flood risk and get quotes for flood insurance on this website. You can also buy flood insurance from private insurers. Shop around for the best deal.

“Costs vary based on location and risk but typically range from $100 to $600 per year for renters,” says Stacy Brown, Senior Director of Training at Real Property Management.

For earthquake insurance coverage, you can buy it as a separate policy or have it added to your renters insurance. Check with your insurance company to see if you can add earthquake insurance to your current renters insurance policy. Keep in mind that many earthquake insurance policies come with a deductible that you’ll be required to pay should you file a claim.

“Costs depend on seismic risk, but premiums usually start around $50 to $300 per year,” Brown says.

How Much Does Renters Insurance Cost?

The national average cost of renters insurance is $20 per month for $30,000 of personal property coverage and $100,000 in liability coverage.

Renters insurance is affordable, and you can qualify for discounts to make it even cheaper. You’ll receive discounts for bundling your renters insurance with your car insurance, paying the full amount of your premium upfront, paying your bills online, and not having any insurance claims.

“Always ask your insurance professional if you qualify for any discounts. Things like having an alarm system, deadbolt locks, smoke detectors, good credit, and even your age may help lower your costs for renters insurance,” Holeman says.

Getting discounts will slash renters insurance prices, and the money you save can be applied to a separate flood insurance or earthquake insurance policy.

Shopping around for the best coverage from insurers in your area is another way to drive down renters insurance prices. Use the same strategy when shopping for flood and earthquake insurance. Don’t accept the first quote; keep on shopping until you find lower insurance prices.

The Bottom Line

Most renters insurance policies do not cover earthquakes and floods. For insurance coverage of these natural disasters, you’ll need to purchase separate insurance.

For flood insurance, the National Flood Insurance Program is a good place to start, and you will also want to check out flood coverage from private insurers. For earthquake coverage, you can buy a separate policy, or you may be able to get it added to your renters insurance policy. Check to see what’s available from your insurance company.

To lower insurance costs, shop around and ask about discounts. There are several ways to get a discount on renters insurance, including paying your bill on time and having good credit. This same strategy applies to earthquake insurance and flood insurance. So be sure to shop around for the best price and ask about an insurer’s discounts.