1Myth 1: My landlord's policy covers my stuff
It does not. The landlord's policy covers the building. Your furniture, electronics, clothes and everything else inside are your responsibility. After a fire or a burst pipe, renters without coverage replace everything themselves.
2Myth 2: It is expensive
Renters insurance is typically one of the most affordable policies we write, often less per month than a couple of streaming subscriptions. For what it covers, it is arguably the best value in personal insurance.
3Myth 3: I do not own enough to insure
Add up your laptop, phone, bike, clothes, furniture and kitchen. Most tenants own far more than they think, and a policy also covers liability and hotel costs if your apartment becomes unlivable after a covered loss.
4Myth 4: It only covers theft
Theft is one slice. Renters policies also respond to fire, smoke, water damage from burst pipes and more, plus personal liability if a guest is hurt or you accidentally damage someone else's property.
5Myth 5: My landlord cannot require it
Many New Jersey landlords now require renters insurance in the lease, and it is perfectly legal. The good news: once you need it anyway, it doubles as protection you would want regardless.
Articles are general information, not a policy or legal advice. Coverage, pricing and eligibility depend on the insurer and your issued policy.
