New York Renters Insurance
Protection For Renters Of Homes And Apartments In The Empire State
New York is a state with two sides. The upstate region of the Empire State is quiet and rural. By contrast, greater New York City is a bustling hub of activity, with busy streets and sprawling infrastructure. Living in New York City is notoriously expensive. As such, making sure your belongings are secure is vital. With renters insurance, you can protect your belongings and ensure you'll be reimbursed in the event disaster strikes.
What Does Renters Insurance Cover?
Renters insurance covers liability and property damage both for yourself and other tenants. Liability insurance steps in if you cause bodily injury or property damage to someone else. Personal possessions coverage steps in if your personal belongings are damaged or lost. Incidents that renters insurance typically covers include:
- Water Damage
Water damage can be tricky, as renters insurance doesn't typically cover flooding. You can purchase a separate flood and earthquake policy to add extra protection on your belongings. Water damage, as it refers to a general renters insurance policy, covers against events such as burst pipes.
Does Renters Insurance Cover Jewelry?
Renters insurance can extend to all your possessions, including jewelry (such as wedding rings), furniture, laptops and televisions. You can also add an additional jewelry floater policy if you have especially expensive jewelry with a value that would stretch beyond the limits of your renters insurance policy.
Get A Quote From BluCanopy Today
The knowledgeable agents at BluCanopy are eager to help you find the best New York renters insurance for your needs. Give us a call at (800) 573-0226 or get an instant online quote today.
Common Renters Insurance Questions in New York
1How much is renters insurance per month for an apartment in New York?
The cost of renters insurance varies largely in different areas of New York. In New York City, for example, you may pay around $24 a month. Renters in other areas of New York pay an average of $15 a month.
2What are the essential renters insurance coverage options in New York?
Landlords may require that you carry liability insurance. But that might not be the only coverage you'll want in your policy. You may also want to invest in flood insurance (especially if you live in a coastal, riverside or lakeside area). Additional jewelry coverage can provide a benefit if your jewelry exceeds the limits of your policy. And pet liability insurance can assist you if your pet causes bodily injury or property damage.
3How does renters insurance work in New York?
When signing up for a policy, you can either sign up to receive the actual cash value of the insured belongings or the replacement value. Once you file a claim and the insurance agency approves it, you will receive one of the two. Actual cash value accounts for depreciation while replacement value does not.
4Why do you need renters insurance in New York?
You aren't legally required to carry renters insurance in New York, but your landlord may require you to carry a certain amount of liability coverage. New York also has a cap on how much renters insurance a landlord can require.