TL;DR
- Whether or not your renters insurance covers a broken TV depends on the cause of the damage.
- If your TV is stolen, or if it’s damaged by fire or certain types of water events, it would likely be covered.
- If your TV simply stops working for no reason, or breaks due to simple wear and tear, it won’t be covered.
- Adding an endorsement like Equipment Breakdown Coverage can add further protections to your TV, as well as other electronics and appliances you own.
Renters insurance may cover the cost of repairing or replacing your broken TV, if the cause of the damage is related to theft, certain water events (like a burst pipe), or a house fire.
Let’s delve into the specifics of what renters insurance generally covers when it comes to damaged televisions.
When does renters insurance usually cover damage to your television?
Whether your damaged TV or other electronics will be covered by your renters insurance all boils down to the cause of the damage.
If your TV’s damage is the result of a covered peril, then your renters insurance policy will likely help with the costs to replace or repair it. These covered events would include things like:
- Theft
- Vandalism (for instance, if a thief doesn’t take your TV, but somehow damages or destroys it)
- A burst pipe in the ceiling that drenches and ruins your TV
- A house fire
- Damage from a windstorm that smashes the window right behind your Samsung flatscreen
- Smoke damage
- Electric surge-related damage
What scenarios are typically not covered by renters insurance?
Coverage isn’t all-encompassing. Situations like wear and tear, accidental damage, or natural disasters that aren’t specified in your policy are common exclusions.
- Negligence—let’s say you accidentally knock over your TV, or trip and spill soup all over it; this is accidental damage and is typically not covered
- While certain water damage might be covered—like a leak from a burst pipe—flooding often requires separate flood insurance
- General wear and tear
- Earthquakes
- Intentional acts (for instance, if your roommate gets angry and punches the TV)
- Insect or vermin damage, like a rat chewing through an electric cable
- Mechanical breakdown (failures related to the TV’s internal components—though these may be covered if you add an Equipment Breakdown Coverage endorsement)
It’s important to have a handle on these nuances, otherwise you might find yourself bearing the full out-of-pocket cost of a damaged TV.
Are there any policy limits or special considerations renters should be aware of?
Every insurance policy, whether it’s offered by Lemonade or another insurance company, has coverage limits. These limits indicate the maximum payout you can receive.
- Electronics, including TVs, might have a sub-limit, restricting the amount of coverage you should expect.
- Additionally, there are differences among insurers when it comes to how much you’ll be paid out on a covered claim. If you bought your television five years ago for $800, it doesn’t automatically that your insurer will write you a check for $800.
- If your TV’s damage can’t be repaired, your policy might pay to replace it on an actual cash value (ACV) basis—taking depreciation into account—or on a replacement cost basis, which would cover the cost to buy a new TV of similar quality (this is how we calculate things at Lemonade).
- Also keep in mind that you’ll first be responsible for paying your deductible on any covered claim.
How can renters ensure the best protection for their TVs and other valuables?
The best way to safeguard your belongings, including that brand-new TV, is to be proactive.
Always review policy terms
Make sure you understand inclusions, exclusions, and policy limits. Understanding the details of a renters insurance policy is paramount, especially when the unexpected strikes.
Remember that renters insurance is a way to cover all of your stuff, not just your TV
A standard renters insurance policy will help protect everything from furniture to books to stereos. For specific high value items not including TVs—like musical instruments, cameras, bicycles, some fine art, and certain e-bikes—you can add additional coverage to protect against things like mysterious loss and accidental damage. It’s called scheduling personal property coverage.
Are there insurance add-ons to cover additional TV damage?
Many insurers, including Lemonade, offer add-ons or endorsements that could help cover the cost of a TV that is damaged for other reasons.
One such add-on is Equipment Breakdown Coverage, which would help cover your electronics as well as larger appliances you might own, like an in-home washer and dryer.
What this coverage does
Equipment Breakdown Coverage helps covers the cost of repairing or replacing electrical or mechanical equipment in your home that breaks down due to reasons other than normal wear and tear or inherent defects.
What it means for your TV
If your TV malfunctions due to an internal electrical or mechanical issue—for instance, a power supply failure or a motherboard malfunction—Equipment Breakdown Coverage would likely cover the repair or replacement costs. A standard renters insurance policy wouldn’t cover this stuff.
Don’t forget…
Equipment Breakdown Coverage will likely have its own specific deductible that is distinct from your basic renters insurance policy, so check the details.
Should you get a manufacturer’s warranty for your TV?
Deciding on a warranty for your TV largely depends on the TV’s cost, and potential repair expenses.
- Manufacturer warranties primarily cover defects in materials or workmanship, and they might not protect against accidental drops, spills, or other mishaps.
- Meanwhile, renters insurance might exclude specific issues like mechanical failures or screen pixel defects, which a manufacturer’s warranty would address.
Combining both ensures comprehensive protection. But always assess the TV’s value, expected lifespan, and potential repair or replacement costs before spending money on a warranty that might not prove worth it.
A few quick words, because we <3 our lawyers: This post is general in nature, and any statement in it doesn’t alter the terms, conditions, exclusions, or limitations of policies issued by Lemonade, which differ according to your state of residence. You’re encouraged to discuss your specific circumstances with your own professional advisors. The purpose of this post is merely to provide you with info and insights you can use to make such discussions more productive! Naturally, all comments by, or references to, third parties represent their own views, and Lemonade assumes no responsibility for them. Coverage and discounts may not be available in all states.
