If you are a renter in Long Island or Amityville, NY, you may be asking yourself if you need to carry renters insurance. While the state of New York doesn’t require that you carry renters insurance, your landlord may. If you haven’t read your lease, it is vital that you do so. If you think that you don’t need renters insurance because you are covered under the landlord’s insurance policy, you are only partially correct. The landlord hopefully has insurance on the physical building and things that belong to him, such as the furnace and perhaps the appliances in your unit. Your personal property is your responsibility. At The Budde Agency Inc in Amityville, NY, we are independent agents, which means we can offer you choices when it comes to carriers.
When it comes to whether or not you need renters insurance, a lot depends on your financial situation and what you have in your apartment. Renters insurance offers a variety of valuable coverage. If you had a covered event destroy the contents of your rental unit, your insurance would provide the money that you need to replace these items. It also covers you against theft, even if it doesn’t happen at home. If your unit is damaged so severely that you can’t live in it, your renter’s insurance can help to pay for another place to stay while your unit is repaired. One of the most essential protections offered is liability coverage. If you are sued, the cost of a settlement against you can wipe you out if you don’t have insurance.
Renters insurance is an important coverage you will be thrilled you have if something ever happens to your rental unit. Don’t hesitate to give The Budde Agency Inc in Amityville, NY a call to set up an appointment to discuss your renter’s insurance needs.