Renters Insurance

Many New Yorkers live in apartments because it makes more sense financially and can be less of a burden in various ways. If something happens, you can also turn to your landlord for guidance and assistance. Still, your landlord cannot bail you out of every situation. Here at Premium Brokerage Services Inc., we offer renters insurance policies designed to protect New York tenants.

How Does Renters Insurance Work in New York?

Discussing insurance with your landlord before signing a lease agreement will teach you more about the real value of securing a renter's policy. While landlords in New York are required to carry insurance, it's important to note that those policies are only designed to protect their investments. The policy keeps them protected in case their unit sustains damage. It doesn't necessarily offer the tenants any additional protection.

Because of how your landlord's insurance works, you may have no means to replace your belongings destroyed in a fire or stolen. You can only protect your belongings by taking out renters insurance beforehand.

Renters insurance will also come in handy if someone has an accident inside your apartment. Once again, you cannot depend on your landlord's policy to offer financial assistance in that scenario.

Do I Have to Purchase Renters Insurance in New York?

Renters insurance isn't just a wise investment for tenants. Depending on your landlord, it could also be a mandatory purchase.

New York law allows landlords to set up insurance requirements before renting out one of their apartments. If you don't want to purchase renters insurance, they can refuse your offer and look for a different tenant. Don't give your landlord any reason to decline your offer by committing to purchasing renters insurance.

Protect your belongings and finances as a tenant in New York by purchasing renters insurance. Call us at Premium Brokerage Services Inc., and we'll provide the policy you need!