Does Renters Insurance Cover Broken TVs?

Does renters insurance cover broken TVs? This peril is covered by policy add-ons or endorsements rather than the standard renters insurance policy, except in certain circumstances. Depending on the conditions that caused the damage and the area of coverage, what renters insurance may cover includes the cost of repairing or replacing your broken TV.

Usually, add-on equipment breakdown or electronics coverage is where a broken TV gets coverage for a renter. For example, Lemonade insures appliances and electronics against mechanical failure. Meanwhile, USAA has coverage for drops, spills and misplaced objects, and you can add extra coverage for a TV.

To have renters insurance cover a broken TV, you purchase an add-on endorsement, often called equipment breakdown coverage. Endorsements provide additional coverage for certain things, which may include a damaged TV.

But, there are situations where a broken TV is covered without the endorsement. Below, MoneyGeek outlines situations in which renters insurance may cover broken TVs.

If you have a TV at home, you can purchase equipment breakdown to extend your coverage. But if a broken TV is the result of a robbery, the standard renters insurance personal property coverage should take care of its repair or replacement. Also, in the event of a crisis like a fire, you may also have protection for a damaged TV.

MoneyGeek recommends that, when in doubt, call your insurance company to determine whether a certain loss like a broken TV is covered.

Renters insurance may not cover your broken TV in certain circumstances, such as excluded perils, personal carelessness or negligence and wear and tear that occurs naturally.

Several dangers, such as earthquakes and floods, are not covered by standard renters insurance policies. If your TV is destroyed by a flood and you don't have supplemental flood coverage with an endorsement or a separate policy, your insurer will not pay for a new TV.

Moreover, if you drop your TV or plug it into an overloaded power strip, your renters insurance will not cover the damage because you caused it. Also, if your television was not harmed in any manner but simply stopped working because it is old, your insurance will not cover it unless you have equipment breakdown insurance added to your policy.

You never know when something will happen to your TV, making it unusable. Getting renters insurance and making sure your coverage protects your TV is never a bad idea. Below are common reasons why people get coverage for a TV via renters insurance.

Renters insurance costs $13 per month on average; however, this can vary depending on how much your personal belongings are worth. Most big insurance companies, such as Allstate and State Farm, as well as smaller companies, like Lemonade and Toggle, offer renters insurance.

MoneyGeek crafted a guide for comparing renters insurance rates if you're not sure which coverage is right for you or how to find the right company for your needs. For example, if you want renters insurance to cover broken TVs, you may need a company that offers equipment breakdown add-on coverage.

To estimate the cost of renters insurance based on your coverage needs, use MoneyGeek's personal property calculator below.