Rental Property Insurance – Luxury or Need

If you’re renting a home or apartment, don’t underestimate the importance of protecting your goods with rental property insurance. Renter’s insurance can protect your personal goods from theft or loss in the event of an unexpected catastrophe.

Like most people, you’ve probably invested quite a bit in clothing and electronics alone, not to mention jewelry, collectibles, sports gear or other personal items. Without insurance, you’d have to replace these items out of pocket if they were damaged or lost. Here are a few good reasons to consider rental property insurance coverage.


Renter’s insurance is very affordable in New Jersey, with the average policy cost coming to less than $200 annually. By personalizing your policy, you can obtain coverage to suit your specific needs so you don’t pay extra funds unnecessarily. A personalized policy not only saves you money but ensures your goods have the type of coverage they need.

Protection of Personal Property

Rental property insurance covers the cost of repairing or replacing personal goods that are stolen or lost in a covered peril. Depending on the policy you choose, you can protect such personal goods as clothing, jewelry, furniture, computers, luggage, electronics, etc., against fire and smoke damage, theft, vandalism and natural disasters. The amount of coverage you choose will depend on the value of your personal property.

Liability Protection

Renter’s insurance also includes liability coverage to protect you against lawsuits in the event someone gets hurt while visiting your home or apartment. You never know when an accident will happen. Liability coverage pays for medical expenses of injured parties as well as legal expenses if you are sued for damages.

Rental property insurance isn’t a luxury — it’s a need. With renter’s insurance, you can have peace of mind that your belongings are well protected against any eventuality.

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