Title: Renter's Insurance | Department of Financial Services
Headings: Department of Financial Services
Department of Financial Services
Help for Homeowners
Renter's Insurance
What is Renter's Insurance?
Cost
Coverage
Things to Remember
Condominium Insurance

Content: Renter's Insurance | Department of Financial Services
Department of Financial Services
Help for Homeowners
Foreclosure Assistance
Help for Homeowners Facing Foreclosure
Find a Housing Counselor
Help for Tenants in Foreclosed Properties
If You Fall Behind
Know Your Options
Know Your Rights
Settlement Conferences
Subprime & High Cost Home Loans
Reverse Mortgages
Mortgage Escrow Accounts
Title Insurance
Homeowners Insurance
Basic Coverage and Adding Coverage
Cancellations and Nonrenewals
Choosing a Policy
How Much Insurance Do You Need? Force-Placed Insurance
Maintaining Adequate Insurance
Problems Obtaining Insurance
Shopping for Insurance
Understanding What Affects the Cost
Managing and Mitigating Losses
Renters & Tenants
A Tenant's Rights in Foreclosure
Rent-To-Own and Installment Contracts
Renter's Insurance
Storm Preparedness
Disaster and Flood Resource Center
Renter's Insurance
Many uninsured renters are under the mistaken impression that their landlord’s policy covers their possessions. A landlord does not provide insurance for a tenants personal property. An exception to this can occur if the landlord was aware of a prior hazardous condition, failed to correct it in a reasonable time frame, and as a result your property was damaged. If you are a renter residing in New York, by law the building owner is required to maintain insurance on the dwelling you rent. This means that the building itself is insured, and should something happen to this structure as the result of fire, water damage, etc, the building owner is entitled to file a claim. However, the landlord's insurance does not protect you as a renter. If this same fire or water damage should ruin your sofa, clothes or other personal items, you are not protected against the loss of these items unless you buy a renters insurance policy. Moreover, if someone becomes injured while on the premises you rent, you could potentially be held liable for any medical and hospital expenses. To protect yourself and your belongings, renters should consider purchasing renters insurance, also known as "tenants insurance."