Whether you’ve just moved your boxes into your first apartment or have been renting a home for years, renters insurance in NJ is a smart way to protect your financial and personal assets.
While you don’t need to buy insurance to protect your rental property’s structure, you still need it to cover the replacement cost of your possessions and protect you if you’re legally responsible for someone’s injuries while they’re visiting.
Discover why it is an important purchase and how it can protect you — now and in the future.
What Does It Cover?
Renters coverage covers your possessions from reasonable risks such as, but not limited to, fire, water and theft. The personal property it covers includes items like jewelry, clothing, electronics and furniture. Additionally, it provides you with liability coverage, which protects you in case someone is injured while visiting your rented home and you’re held legally responsible.
Why Do I Need It?
While your landlord may have insurance on the building that you are renting, that coverage typically does not extend to you or your things. The property owner’s policy usually only covers the actual building structure and not its contents. That means, without renters coverage, you could be responsible for the entire cost of replacing your clothes, furniture and other possessions if they are stolen or damaged by fire or water.
Even if you are not worried about your possessions, you may want to consider getting a policy. You could be liable if someone was injured at your home — even though it’s a rental property.
In reality, anyone who rents can benefit from a renters policy. Plus, if you combine it with an auto policy, you could save!