Many New Jersey residents are not currently homeowners and are taking advantage of renting their current dwelling. Apartments or standalone homes can be rented depending on your needs. In most cases, these properties are protected with homeowners' insurance in place by the landlord. Unfortunately, that protection does not extend to the tenant and their property. If you are renting in the vicinity of Cranford, NJ, below are the reasons why you should call O'Donnell Agency LLC today for renter’s insurance.
Whether it is an accidental fire, natural disaster, or another event that has caused damage to your rental property, the damage may be significant, and your own property may be damaged in the process. The homeowners' policy that is owned by the owner will cover any structural damage, flooring, and appliances that they have provided for the property.
With renter’s insurance, you could get financial assistance to replace the personal property that has been lost. This includes items such as appliances that you purchased, furniture, electronics, clothing, and other items outlined in your policy. If you are not carrying renter’s insurance, you will be responsible for covering these costs out of pocket.
While the state of New Jersey does not require renter’s insurance, your landlord may require it for liability purposes. In the event that an accident happens with one of your guests, you could be held responsible for their medical expenses or property that is damaged during the event. With renter’s insurance, you can make a claim and get financial assistance to cover the liability costs determined in a court case.
If you live in the Cranford, NJ area and do not currently have an insurance policy, reach out to our team at O'Donnell Agency LLC today. We are happy to assist you with covering your personal items and get you the liability coverage you need so that you can have peace of mind while renting.