{"id":14875,"date":"2021-11-10T15:00:00","date_gmt":"2021-11-10T20:00:00","guid":{"rendered":"https:\/\/www.renthop.com\/content-manager\/?p=14875"},"modified":"2023-07-22T11:36:33","modified_gmt":"2023-07-22T15:36:33","slug":"my-latest-favorite-google-search-what-is-renters-insurance-and-why-do-i-need-it","status":"publish","type":"post","link":"https:\/\/www.renthop.com\/blog\/my-latest-favorite-google-search-what-is-renters-insurance-and-why-do-i-need-it\/","title":{"rendered":"What is Renter\u2019s Insurance and Why Do I Need It?"},"content":{"rendered":"

Finding an apartment in New York City<\/a> is a stressful and time-consuming process, and actually signing the lease takes a fair bit of effort. In between scheduling apartment showings, working with a moving company<\/a>, and signing<\/a> the documents, renters must also remember to find a renter’s insurance policy. Renter’s insurance protects a renter’s items from unexpected events, like severe weather. Many landlords also require that renters acquire a policy within several days of moving to the apartment.<\/p>\n

What to Look For in an Apartment<\/h2>\n

There are lots of things you need to know about what to look for in a lease. For example: what amenities the apartment offers, which kind of furniture items are necessary, and which will end up sitting on a top shelf with dust on it, how much pet fee<\/a>s you owe if you already own or are thinking of getting a pet. Renters must also think about how the space will work with their furniture and belongings. Perhaps one of the most important parts of signing a lease is finding a renter’s insurance policy.<\/p>\n

What is Renter’s Insurance?<\/h2>\n

Now you may be thinking, \u201cWhat in the world is renter\u2019s insurance?\u201d<\/p>\n

Essentially, renter’s insurance is a policy that covers a multitude of mishaps that may happen in the place you are renting. For example: theft, water damage, injuries, incidents resulting from natural disasters, and a plethora of other random scenarios. An insurance policy covers the renter from unexpected events that damage their belongings. A policy costs less than $1\/day, and renters with high-value items can add them to their quote. Renters can find many insurance providers online, and some now offer mobile apps to make managing their policy seamless.<\/p>\n

Landlord vs. Tenant Responsibility<\/h3>\n

One of the good things about renting a property is that it is the landlord\u2019s responsibility to maintain it. Not yours. Crack in the ceiling? No need to run to Home Depot and watch YouTube tutorials on how to fix it. Simply call your landlord, and they will take care of it for you. However, you still retain authority over your belongings and the people you invite into your space. If your couch gets ruined from a flood by said crack in the ceiling, your landlord does not have to replace it. However, if you were to have renter\u2019s insurance, then it would be covered.<\/p>\n

Another example, let’s say your friends come home after a long night out and about. One of them walks into your kitchen, stumbles across the floor, and by some way or another sprains their wrist. You don\u2019t know this person very well, and suddenly panic strikes through your body. What if they make a claim that the floor was slippery because you had just cleaned and that\u2019s why they fell? Sounds silly, but I would be lying if I said it hasn\u2019t happened before. Thankfully, renter\u2019s insurance would cover any legal fees involved in a case that is made against you.<\/p>\n

Learn more:<\/p>\n