Renters Insurance may be the best bank for your buck insurance policy out there. With so many new apartment buildings being built on Long Island, renters insurance is becoming even more popular amongst Long Islanders. Most people believe renters insurance can be costly since homeowners insurance tends to be. However, that is not true about renters insurance. According to ValuePenguin , our own experience and other Independent Insurance Agents, the average cost of renters insurance on Long Island and through out New York, is around $17 a month. That’s about the cost four or five Starbucks drinks. The only difference is you’re covered for a lot more in the event of a loss.
How Renters Insurance Protects You.
Not carrying renters insurance can quickly become one of those things you regret in the event of a loss. So to put things in perspective lets run through two scenarios:
#1 Think about that flat screen TV or couple of flat screen TV’s in the apartment on top of your belongings and other valuables. If you happen to be on the receiving end of a fire, theft, a pipe burst or even a natural disaster could you afford to replace all that? Maybe, but it would cost a lot more out of pocket than a renters insurance policy which would cover all those things you lost in the event of a fire, theft, pipe burst or natural disaster.
#2 You’re having a get together at the apartment or house you are renting and someone gets injured and you’re determined the one at fault. They can then file a claim against you for damages done meaning you have to come up with thousands of dollars in medical costs. This is another scenario where if you had renters insurance you would have been covered in the event a liability claim is filed against you.
So, as you can see you get a lot of protection for a very low cost and not to mention peace of mind. This is why we consider Renters Insurance to be the best bang for your buck insurance policy.
If you’re ready to get your renters insurance policy fill out the form on this page and we will be contact with you shortly. We look forward to hearing from you and helping to provide you peace of mind.