What is Renters Insurance?
New Jersey residents who lease an apartment, townhouse, condo, or single-family house are exposed to many of the same perils that homeowners face. Even though they don’t own the home they live in, tenants can still be the victim of a burglary, lose everything in a fire, or be named in a libel suit. Renters insurance helps protect renters from many of the potential risks they could face.
Renters policies are similar to homeowners insurance policies, but they’re designed with tenants’ specific insurance needs in mind. Because renters don’t own the buildings they live in, renters policies generally don’t provide dwelling coverage. They can include several other coverages that homeowners policies frequently provide, though.
Who May Benefit from Having a Renters Policy?
Most people who rent a place in New Jersey could benefit from having a renters policy. Regardless of whether a tenant is renting the most expensive penthouse in Atlantic CIty, NJ or a single room in a Toms River, NJ house, a burglary, fire, or other incident could be financially devastating. Renters insurance is one of the best ways for tenants to make sure they could recover from a covered incident.