Renter’s Insurance: Does Pack-Out Cost Count Towards Personal Property Limit?
I reside in a condo, and recently we experienced a fire in our building that originated from another unit. Thankfully, there was no fire or water damage in my unit, but there is significant soot and smoke damage throughout my 2-bedroom, 2-bathroom home. As a result, we currently can’t stay there. I’ve received two estimates from fire restoration companies that handle the inventory and help assess whether items should be restored or replaced. If restoration is the chosen option, they transport items to their facility for treatment and storage until we’re able to return. The costs are surprisingly high.
I have renter’s insurance with a personal property limit, and I’m curious whether the “Pack-Out Cost” for inventory and storage counts against my personal property limit.
Right now, it looks like it may take several months before we can move back in.
I’m sorry to hear about the fire and the challenges you’re facing. Regarding your question about renter’s insurance, the pack-out costs, which typically include the inventory, packing, and storage of your personal belongings during the restoration process, often depend on the specific terms of your insurance policy.
In many cases, the pack-out cost can be considered part of your personal property coverage limit. However, some renter’s insurance policies might offer additional coverage for these expenses under a separate provision or as part of “additional living expenses” (ALE).
To get a definitive answer, it’s best to review your policy documents or contact your insurance agent directly. They can provide clarity on what is covered and how costs are applied against your personal property limit. Additionally, make sure to keep detailed records and receipts for any expenses incurred during this process, as you may need to submit these for reimbursement. Good luck, and I hope you can return to your home soon!