Home » Renters Insurance in Manhattan – The Best Deal

Renters Insurance in Manhattan – The Best Deal

by lily-poole
Renters Insurance deal

Renters insurance in Manhattan is probably not on your to-do list. First and foremost, buying insurance is tedious. According to law, you must purchase insurance if you own a car or home, but not if you are a renter.

Since this is not a legal requirement, many renters decide not to purchase renter’s insurance, which involves finding a pretty good policy or paying the additional cost of renter’s insurance in Manhattan. Others don’t consider renter’s insurance because they mistakenly believe that their landlord’s insurance will cover them in the event of a disaster. However, the landlord’s insurance only covers damage to the house, apartment or condominium you rented. You or your property are not covered by it.

If you are a renter and do not have renter’s insurance, you are at risk. In addition to losing your belongings to fire or theft, you may also lose your property to a hurricane. That’s why it’s important to protect yourself and your belongings with renters insurance Manhattan.

Comprehensive Personal Property Insurance

Homeowners insurance is a necessity for all renters who can’t afford or don’t want to take the risk of replacing all their belongings on their own. The smallest renters insurance policy can cover up to $20,000 in property replacement costs for only $200 a year. That’s not a very expensive amount for peace of mind. Of course, if your property is worth more than $20,000, you should purchase more insurance.

Liability insurance

Personal property insurance is not the only important aspect of renters insurance. It would help if you also protect your finances from potential litigation. Liability insurance can cover damages, attorney fees, and medical expenses if someone is injured in your home. Basic liability insurance is $100,000. This may seem like a lot, but medical and legal expenses can easily exceed this amount, so it’s often a good idea to buy more than the basic coverage.

Loss of Use Coverage

The loss of use clause of renter’s insurance can help cover living expenses if your home is damaged to the point that you are forced to leave it temporarily. In the event of an involuntary evacuation, renter’s insurance covers other necessary living expenses. Such as motel bills, food and laundry. Basic homeowners insurance protects you for up to two weeks if you have to leave your home during repairs.

 

 

 

You may also like

Leave a Comment