Is renters insurance required in New York?
Renters insurance isn't required by New York law, but your landlord or building management company may mandate a renters policy before you can move in. Even if you're not required to carry renters insurance, a renters policy is generally affordable and may cover your belongings against certain perils. It may also pay for you to live elsewhere if you're unable to stay in your residence while it's being repaired or rebuilt due to a covered loss.
New York renters insurance coverages
Check out the four standard coverages on nearly all New York renters insurance policies:
- Personal property protects your personal belongings, including furniture, clothing, and electronics.
- Loss of use helps cover costs associated with an increase in living expenses, up to your policy's limit, if you're unable to stay in your home while it's being repaired or rebuilt due to a covered loss.
- Personal liability protects you financially if you're legally responsible for another person's injuries or damage to their property.
- Medical payments to others pays for medical expenses due to a covered occurrence.
For tenants renting apartments, condos, or homes, the best renters insurance in New York is always a policy with customized coverage limits. Here are some extra options for when you need more protection:
- Certain valuable items, like jewelry, art and collectibles, may have specific limits on your renters policy. If your items exceed the limit, you may be able to purchase an endorsement for your policy, also known as "adding a rider," to cover the item for its value.
- Personal injury: May pay for legal fees and damages if you’re liable for slander or defamation.
- Water back-up: Water that backs up through sewers or drains or discharges from a sump pump may not be covered by your standard renters policy. Water back-up coverage may pay for the damage to your belongings and water removal costs.
Learn more about renters insurance coverages.
Common claims in New York
Primary concerns for renters in New York may vary considerably from one area of the state to another. Your renters insurance policy may cover your personal belongings if they are damaged or lost from vandalism, theft, windstorms, or fire, up to your coverage limits and minus your deductible.
Planning a move and wondering how to insure your belongings while they’re in transit from your old place to your new space? Learn more about how insurance may cover personal items while moving or in storage.
Discounts on New York renters insurance
Progressive offers several discounts to help lower the cost of renters policies in New York, such as:
- Quote in advance
- Pay in full
- Secure/gated community
See more of our available renters insurance discounts.
How much is renters insurance in New York?
You can buy renters insurance for less than $1/day.* Many components affect your rate for renters insurance in New York, including your location and coverage limits. Learn more about renters insurance cost factors.