Renters Insurance In New York
At AW Burchell Agency, we have a large number of customers asking us if New York requires renter's insurance for their apartments or homes. This type of insurance is not strictly necessary when renting a house but is a good option for someone because of the protection that it does offer them.
Landlords Must Insure Property
While renters don't, legally, need insurance on their home, the building owner does need coverage. However, their policy will be limited to the house or apartment complex in which the person lives. It will only cover damage to that structure, including any issues caused by renters, but won't pay for any of the renter's damage if a building burns down.
However, renter's insurance – though not a legal necessity in this state – will cover damage to the belongings a renter owns. For example, a person's furniture and electronics will be protected from damage. However, the exterior of the building will not be covered by their policy but by their landlord, unless the renter owns an item on the outside of the home, such as an expensive bird bath.
Typical Coverage for Renter's Insurance
New York renter's insurance policies cover a broad array of problems and losses. For example, it will include the loss of personal property, the inability to use an apartment, medical liability, medical payments to others, and damage caused by a multitude of issues.
Typically, renter's insurance will cover fire, smoke, theft, vandalism, windstorms, hail, lightning, explosions, snow, ice, sleet, water, falling objects, and electrical surges. Increased liability coverage will also protect you if somebody tries to sue you after an injury in your apartment.
Get the Coverage You Need
Renters in this fine state should contact us at AW Burchell Agency to learn more about their coverage options. Our professionals will work hard to identify the best possible choice for you and will insure your home at a rate that is more than fair for both of our needs.