Renters insurance: You know you need it, but you might not have gotten around to actually purchasing it yet. After all, your landlord has insurance, right?
Think again. Your landlord’s insurance policy likely covers all communal areas of the building, as well as the exterior walls. But when it comes to your personal property, you need to obtain your own coverage.
Renters insurance protects your possessions and the interior of your apartment in case anything goes wrong. Plus, you’ll gain liability protection as well as additional living expenses if your apartment becomes damaged and unlivable.
Compared to other kinds of coverage, renters insurance is very affordable, with most protection starting at just a few dollars per month. If you can budget for a few fancy coffee drinks, you’ll have no problem affording NYC renters insurance. Though that cup of coffee might give you a brief hour of energy, rental insurance will give you peace of mind.