Many people may choose to rent a place to live rather than buy a place. This may be less expensive for them or they may not know how long they will be in the area. Renting a place to live can be convenient. If you have an amicable relationship with your landlord, it can prove to be a positive experience. Landlords can be a hassle if you are not taking care of their property up to their standards. When landlords rent their properties, they have insurance plans that cover their physical property. However, if a disaster were to occur, your personal belongings in the rented property may not be protected under that insurance plan. People who own properties usually have insurance that covers the property and their assets inside their home. Since they own the property, they want to ensure that everything is protected if something were to happen to the property. However, rental properties may not have that same protection. To protect your personal belongings, you should opt to get an insurance plan that protects your assets. While your landlord may have some kind of insurance plan to help the physical structure, it may not protect anything that you have placed inside of the structure.

What can be protected?

If renters decide to get an additional insurance plan for their rental property, it may give them more protection. This protection may cost an additional $300 a month. However, it can prove to be beneficial if a disaster occurs. Your insurance company may be able to cover up to $50,000 worth of protection if a fire or flood were to happen on your property. This can protect items that you own that you keep inside of your locked doors. These items may include furniture, appliances, clothing and more. However, there are products that are not covered under this plan. These products can include higher valued jewelry, antiques and collectible items.

To get your higher priced items covered, you may wish to get an additional insurance protection. This may be able to account for them if they were damaged in a disaster to your home. Insurance plans may be able to provide the compensation you need to recover from a disaster.

The Law Office of Craig A. Blumberg is an experienced New York City insurance law firm. If you require quality assistance after having suffered property loss, please contact our firm to schedule a free initial consultation.