If you’re planning to share a rental with a roommate, consider renters’ insurance. This coverage can protect you and your belongings throughout your tenancy.

Understanding Renters’ Insurance

Renters’ insurance is similar to home insurance, providing protection while a rental is actively occupied. However, it’s important to note that a renters’ insurance policy only covers the individual named in the policy.

Each tenant sharing a rental is responsible for obtaining their own renters’ insurance policy. While renters’ insurance isn’t always mandatory, some property owners do require tenants to have coverage. Even if it’s not required, tenants can still opt for insurance coverage.

Having adequate coverage can prevent financial loss while renting. If your items are stolen or damaged, the coverage will cover your out-of-pocket costs.

Assessing Your Rental

Assess the rental unit. This will give you an overview of its layout and condition. Then, decide where to place your furnishings and personal possessions.

Prepare a list of valuable items that you plan to move into the rental. Your bedroom furniture, clothing, jewelry, and other valuable items can be added to your insurance policy.

Liability Protection

You may benefit from adding liability coverage to your renters’ insurance policy. This type of coverage will protect you if someone is injured or property damage occurs in your rental.

Acme Insurance Brokerage: Serving Amityville, NY

Contact one of our agents at Acme Insurance Brokerage. An agent will prepare your renters’ insurance documents for you.