Why New York Residents Need Rental Insurance
Any renter in New York or other state with an extremely high cost of living would benefit from having Renter's Insurance. Since landlords only have insurance to cover the actual building and not your belongings, it is important to protect all of your possessions. In this blog post, Gregg S. Marcus, a Long Island Insurance Executive discusses why it is so important to protect the belongings in your rental unit.
Research has shown that the average renter owns more than $30,000 in personal property. This is a substantial replacement cost should you experience a traumatic event such as a fire or water leak. Renter's insurance will assure you that your belongings can be replaced if they are damaged or stolen, giving you peace of mind that you are protected. Renter's insurance also includes liability protection, which means you will have legal representation and compensation for injury or accident lawsuits. Renter's insurance may also include reimbursed living expenses for temporary housing should you need it. If you own expensive electronics, jewelry, clothing or collectibles, it would be in your best interest to have renter's insurance. Some New York landlords even require that their tenants purchase renter's insurance as a stipulation of their lease. This requirement isn't always enforced, however, leaving many tenants in a position to forget about this important coverage completely.
To save money, make sure you are only paying for the coverage you need. Determine the value of the contents of your apartment and how much money it would cost to replace only the items that are worth replacing. Another way to cut down on costs is through multi-policy discounts. If you are already paying for auto, life, or other insurance, your agent may be able to get you a deal on renter's insurance by bundling all of your policies together. Another way to cut down your monthly premium is to pay for your entire year of coverage all at once to eliminate any monthly installment fees or choose a policy with a higher deductible. The higher the deductible, the lower the monthly premium, and vice-versa. Just keep in mind that you are on the hook for the cost of the higher deductible before the insurance company reimbursement kicks in.
For the cost of a modest lunch in New York City, you can purchase a month's worth of renter's insurance that will cover your personal belongings plus give you injury lawsuit protection. It could be the least expensive item in your monthly budget that will save you the most in the long run. If you are a renter looking to purchase a renter's insurance policy to protect your possessions in Nassau County or Suffolk County on Long Island in New York, contact Gregg S. Marcus for a quote todayFor the cost of a modest lunch in New York City, you can purchase a month's worth of renter's insurance that will cover your personal belongings plus give you injury lawsuit protection. It could be the least expensive item in your monthly budget that will save you the most in the long run. If you are a renter looking to purchase a renter's insurance policy to protect your possessions in Nassau County or Suffolk County on Long Island in New York, contact Gregg S. Marcus for a quote today.
Research has shown that the average renter owns more than $30,000 in personal property. This is a substantial replacement cost should you experience a traumatic event such as a fire or water leak. Renter's insurance will assure you that your belongings can be replaced if they are damaged or stolen, giving you peace of mind that you are protected. Renter's insurance also includes liability protection, which means you will have legal representation and compensation for injury or accident lawsuits. Renter's insurance may also include reimbursed living expenses for temporary housing should you need it. If you own expensive electronics, jewelry, clothing or collectibles, it would be in your best interest to have renter's insurance. Some New York landlords even require that their tenants purchase renter's insurance as a stipulation of their lease. This requirement isn't always enforced, however, leaving many tenants in a position to forget about this important coverage completely.
To save money, make sure you are only paying for the coverage you need. Determine the value of the contents of your apartment and how much money it would cost to replace only the items that are worth replacing. Another way to cut down on costs is through multi-policy discounts. If you are already paying for auto, life, or other insurance, your agent may be able to get you a deal on renter's insurance by bundling all of your policies together. Another way to cut down your monthly premium is to pay for your entire year of coverage all at once to eliminate any monthly installment fees or choose a policy with a higher deductible. The higher the deductible, the lower the monthly premium, and vice-versa. Just keep in mind that you are on the hook for the cost of the higher deductible before the insurance company reimbursement kicks in.
For the cost of a modest lunch in New York City, you can purchase a month's worth of renter's insurance that will cover your personal belongings plus give you injury lawsuit protection. It could be the least expensive item in your monthly budget that will save you the most in the long run. If you are a renter looking to purchase a renter's insurance policy to protect your possessions in Nassau County or Suffolk County on Long Island in New York, contact Gregg S. Marcus for a quote todayFor the cost of a modest lunch in New York City, you can purchase a month's worth of renter's insurance that will cover your personal belongings plus give you injury lawsuit protection. It could be the least expensive item in your monthly budget that will save you the most in the long run. If you are a renter looking to purchase a renter's insurance policy to protect your possessions in Nassau County or Suffolk County on Long Island in New York, contact Gregg S. Marcus for a quote today.