Renters insurance is the most cost-effective way for New Jersey tenants to recover losses in the event of a disaster if one ever happens. Many renters believe that their landlord’s insurance coverage will protect their property in the event of a fire or other disasters that strike. This simply isn’t the case. Their insurance only covers the damage to the building, not the contents inside each apartment.
That’s why it’s so important to get coverage before disaster strikes. The good news is that most renters can find very reasonable rates for basic insurance for renters that will help replace damaged and destroyed items. It also protects you from liability if someone is hurt while in your rental apartment or rental home.
Renters Insurance Basics
Take a look around your apartment and take notice of all the items you own. Start with the big things:
- Electronic Devices
Then take a look at all the small things in your apartment too.
- Art work
- Dishes and Cookware
Sometimes, it’s the things you take for granted, the items you use every day and think little about, that amount to the most difficult to replace and the most sorely lost in the aftermath of a fire, tornado, or other event that destroys your apartment or rental home.
The big and small things all have cash value and must all be replaced once the dust settles. Without renters insurance, the onus to replace all these items rests on your shoulders alone.
Renters Insurance Liability Coverage
The other major note to consider with renters insurance is liability. If you left a straightening iron on in the bathroom and it caused a fire that damaged two other units, you may be held responsible for damage to the building and the possessions of the other tenants around you – not just from the fire, but also from the water used to put the fire out.
That’s where liability insurance comes in not only hand, but also highly necessary. In fact, if you live in a multi-tenant unit, you might want to consider investing in additional liability coverage, or umbrella coverage that extends your covered liability limits.
Flood Coverage for Renters
Insurance for renters does not include coverage for damages from floods. You will need to purchase flood insurance as a separate policy. The good news is that there is flood insurance available that is ideal for renters and will help you replace items lost and destroyed in the flood (minus depreciation).
Why Choose Fraser Brothers for Your Renters Insurance?
Fraser Brothers has a long history of providing dependable, trustworthy service to Central New Jersey renters and beyond. Whether you need renter’s insurance, home insurance, or auto coverage, we have what you need.
- 24/7 service to our customers because emergencies rarely happen during business hours.
- Respect and courtesy at all times.
- Prompt return of phone calls and emails.
- Explain coverage and options you can choose from upon request.
- Work with you to identify the insurance coverage that is best for your family’s needs.
Click below to get a free renters insurance quote so you can get the protection you need today.