N.J. Renters Insurance: Protection for You

If you rent a house or an apartment in New Jersey, the terms of your lease may require you to carry N.J. renters insurance. You may be wondering why you need this insurance and what it covers. Even though your landlord has homeowners protection on the property, his or her policy does not provide coverage for your personal belongings.  

Renters Insurance Coverage

  Designed specifically for those who lease their living space, renters insurance policies provide protection for your personal belongings such as furniture, rugs, your appliances and televisions. If you have valuables such as fine jewelry, those items can be added to your policy by a floater, for an additional premium.   In the event of a covered claim such as a fire or a burglary, the policy will reimburse you for the covered value of the lost or damaged items. N.J. renters insurance policies often include limited liability coverage, too, such as coverage for someone who trips and falls while visiting you.  

Affordable Peace of Mind

  Renters insurance provides peace of mind to both young and old. When you are just starting out on a new career, you are unlikely to be in a position to replace everything you own in the event of a catastrophic uncovered loss. Retired individuals, who have spent their lifetimes accumulating goods, might also find it financially daunting to replace their items. Basic renters insurance policies are very affordable, usually running less than $150 per year. You can usually get a discount by purchasing the coverage from the same company that has your automobile coverage.   Think of N.J. renters insurance as sleep insurance that can provide you with peace of mind, knowing that your belongings are protected in the event of a catastrophic loss.

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