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Renters Insurance — How is it Similar to & Different from Homeowner’s Insurance

For those of you out there who are renting a home or apartment, you have almost as much need for insurance as a homeowner does. Unfortunately, sometimes you don't think about that. As a renter, you don't own the building you live in so you don't have to insure it, but you do own a whole lot of stuff, from your furniture to the artwork, clothes, dishes, and everything else that belongs to you within those walls. So, it's your responsibility to ensure it. You can reach out to a reputable insurance broker to get the best renters insurance in New York and buy a policy just like a homeowner's policy, except it doesn't have the building.

Renters Insurance covers all of your property at a replacement cost basis, which means the insurance provider buys you new for old if something happens to it. If you have anything specific, for example, jewelry, collections or antiques, you may want to schedule those separately. The other important thing about a renters insurance policy is that it protects your personal liability — just like a homeowner's policy. What it means that if you're held responsible for somebody else becoming injured or you damage something of someone else's (third party liability), your renter's insurance is going to cover that. It is really a very important thing because outside of auto insurance if you hurt somebody, it comes out as your personal liability.

As far as the cost of renter's insurance is concerned, it varies depending on the number of contents you want to insure and other factors. To know your most suitable options, send an inquiry to Linx Brokerage Inc. We can help you get the best renters insurance in New York that can perfectly meet your requirements and budget.