Renters in Woodbridge and Fords, NJ commonly think that renters insurance will only protect their belongings. Five Star Insurance Agency wants the residents of New Jersey to know that renters insurance can go far beyond belongings when protecting you.

Liability and Renters Insurance

Renters insurance is a lot like homeowners insurance. You probably have a lot of possessions, and having renters insurance makes sure those things can be replaced if they are damaged or destroyed. Insurance companies estimate the average renter has $20,000 to $30,000 worth of property in the average apartment. It makes sense then to have insurance.

Another thing to consider is liability insurance. Just like a homeowner, if someone is injured on your property you may be held liable. If there is a serious injury, it could end up in the courts, and if you are found responsible, you could be fined legal fees. Having liability coverage helps in that situation.

When you get renters insurance, you will need to agree with the insurance company on the value of the contents of your apartment. You will also need to get a certain amount of liability coverage. There is no legally required minimum, and you can get as much as you like. If you own a rental home, you should also consider the advantages of having protection with insurance. You may get insurance on the building and your tenants through landlord insurance. 

Call or visit the Five Star Insurance Agency in Fords, NJ to find out what your options are concerning renters insurance. Our professional agents can help you get the insurance you need to fit your situation. Renters insurance on contents is usually rather inexpensive, and the liability insurance rates depend on how much liability coverage you want. Reach out to our agents for more information.