What is Renter’s Insurance and Should I Purchase It in NYC?

As you know, there is no shortage of apartment buildings here in New York City. Many of those who rent will choose to purchase renter’s insurance, for various reasons. First and foremost, their landlord’s insurance policy likely won’t cover every type of damage. For example, typically, this insurance will only cover the property, and not necessarily the cost of any valuables, such as furniture, that you may have lost in the disaster. Renter’s insurance can be a great asset to have if you live in NYC, and if you’re interested, continue reading and contact an¬†experienced¬†NY & NJ Renter‚Äôs Insurance Claim Attorney today to learn more. Here are some of the questions you may have:

What does renter’s insurance protect and do I have to purchase it in NYC?

Renter’s insurance can provide you with coverage for your possessions that aren’t covered under the property owner’s insurance plan. Typically, renter’s insurance will cost around $300 per month, however, it can provide you with up to $50,000 worth of coverage. Renter’s insurance typically covers the cost of damage to clothing, furniture, electronics, and more. You should note that not every type of item is covered by renter’s insurance. For example, jewelry or collectives are not covered. You should note that though renter’s insurance can be a great tool, you aren’t legally required to purchase it. We can help assess your circumstances and determine whether renter’s insurance is right for you.

What types of disasters can renter’s insurance cover?

Renter’s insurance can cover assets destroyed in a wide array of disasters, including explosions, floods, fires, windstorms, hail, and more. They can even cover some of the damage/missing property caused by riots or theft.

If you have any further questions about how renter’s insurance works in New York City, please don’t hesitate to pick up the phone and give us a call today. We are here to help you through each step of the claims process ahead.

Contact our experienced New York City firm

The Law Office of Craig A. Blumberg is an experienced New York City insurance law firm. If you require quality assistance after having suffered a property loss due to a fire, a flood, a severe storm or a robbery, please do not hesitate to contact our firm to schedule a free initial consultation. A knowledgeable attorney on your side in your time of need can make all the difference.