Are you a renter? Chances are that you are. There are more Americans renting homes or apartments today than there have been in decades—but the majority of them don’t have NY renters insurance. That means that millions of Americans do not have the liability or property protection they need to live a secure life.
So many people do not understand how NY renters insurance works and what it does. Did you know that your landlord’s policy doesn’t cover your personal belongings? Did you know you could pay out of pocket for unintentional damage you may cause if you don’t have insurance?
Many renters think that the price of NY renters insurance is too expensive. But do you realize that policies can cost as little as $75?
Insurance premiums can vary depending on several factors. These factors include: location, how much coverage you want, prior claim history, credit score, if your building is stick frame or brick, and many more.
Here are the top five reasons why renters should purchase NY renters insurance:
Here are the top five reasons why renters should purchase NY renters insurance:- Your landlord’s insurance does not provide coverage for your belongings. That’s right. If your landlord or your neighbor causes a fire, their policies likely will not make you whole. You need to have your own NY renters insurance.
- Liability coverage is critical, especially in this litigious society. Your landlord can sue you if you cause damage to the apartment. Let’s say you start a kitchen fire. A renters insurance policy can pay for your defense and potential claim settlement.
- You can afford it. If you can afford to rent an apartment, you should be able to pay for a renters insurance policy. As I mentioned above, rates can be very inexpensive.
- Your landlord may require it. Landlords do not want to pay for tenant negligence. So many of them are requiring through the lease that their tenants have insurance.
- You can get a discount on your auto insurance if you buy renters insurance from the same insurer.
Also, your landlord will appreciate if you have NY renters insurance. It is protection for him as well. It can also show your landlord you are a qualified tenant.
As part of LiveSECURE 365™, The Murray Group is committed to bringing security to our partners lives. We endeavor to provide you with valuable tips and advice that you can apply in your daily life. Visit our website to watch all videos in the LiveSECURE video series.
If you have additional questions regarding homeowners insurance, auto insurance,business insurance, or would like to receive an insurance proposal, please contact us:
Contact Murray Group Insurance Expert
Our phone number is (518) 456-6688 if you prefer to call a member of our risk advisory team. You can also connect with The Murray Group further on The Murray Group Facebook Page.
If you are not quite ready to contact us about your insurance but enjoyed and/or found the information in this post useful, we would very much appreciate you posting a review on Google, Yelp or Facebook.
Disclaimer: This article is for informational purposely only. There is no legal advice being suggested or proffered and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information.
Photo credit: http://www.legacyinsurancenwf.com/renters-insurance/