Even if your insurance covers the peril, it may not be enough.
Kelly Tyko and Janna HerronIf you felt the earth move Thursday, chances are you didn't have earthquake insurance.
For earthquakes, you must buy a separate policy from a private insurer or, if you live in California, from the state’s California Earthquake Authority. Condo insurance covers possessions and some structural elements, such as drywall in the unit. The condo association’s insurance should cover damage to the building. Renter’s insurance only covers your possessions – often excluding appliances – but your landlord should have a policy that covers the structural elements of the apartment.
“These are for costs that exceed your typical costs,” Worters says. “You can’t have an exorbitant restaurant bill. It comes with limits.” An easy way to take inventory ahead of time is to go through each room and closet and record every possession on your smartphone's video. When possible, note the make and model of items, especially higher-end appliances.
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