Renters Insurance in Pennsylvania

A home is a home, whether rented or owned. It's where we relax, spend time with friends and family, and keep our most important possessions. In Pennsylvania, while homeowner’s insurance is mandatory if you have a mortgage, not all renters are required to carry renters insurance.  This is too bad because many renters don't realize how valuable it is until after they've suffered a loss.

Just because you’re renting doesn’t mean you shouldn’t protect your belongings with insurance. Your landlord’s  insurance only covers the building you live in, not what’s inside your apartment. Renter’s Insurance provides some of
the benefits of homeowners’ insurance, but does not include coverage for the dwelling, or structure.

Who Needs Renters Insurance?

In 2019, 31.59% of Pennsylvania households were renters according to Census ACS data.  Renters include college students, retirees, young adults living with roommates or alone, and families.

While students living in university housing may be covered under their parents' homeowner's policy, those living in off-campus dorms or apartments are not. Retirees in assisted living facilities need renters insurance, as their property isn't covered by the facility's policy. If you're renting an apartment or house, your landlord's insurance covers the structure itself, but not your possessions.

Many large and and medium-sized rental properties include a requirement in their lease that tenants hold renters' insurance.  If the tenant damages the premises, the landlord and other tenants can recover against the perpetrator's insurance.

What Does Renters Insurance Cover?

Renters insurance can help replace your belongings if anything unexpected happens — like fire, theft, water damage and more. Your renters policy also provides you with liability coverage if you accidentally cause damage to the building or injury to a guest or another tenant.  A little-known fact is that renter’s insurance may even cover incidents that happen outside your home, like theft from your vehicle, even in a location such as a restaurant.

Policies vary, so let The Good Insurance Group, LLC guide you to the policy that best fits your needs and budget.

How Do I Get Renters Insurance?

Renters insurance is something that many tenants blindly go without, and only in hindsight realize how important it is.
Even if it’s not a requirement for your lease, don’t think saving the few bucks a month will be worth it — as there are so many reasons why you need a good renters insurance. You’ll be surprised just how much is covered and what you can claim.  The specialists at The Good Insurance Group, LLC can help you find the perfect solution to provide the peace of mind you need. Contact us at our Bloomsburg office today to get a free quote.