Renters Insurance in Brooklyn
If you live in Brooklyn, New York, and are considering getting renters insurance, you’ve come to the right place. New York City is an amazing city to live in – but just like everywhere else, the unexpected can happen.
And by ‘the unexpected,’ I mean thefts, vandalism, fire, water damage – you name it. And your landlord’s home insurance isn’t enough.
If any of these things were to happen, and the things you love and use every day – your laptop, your TV, your smartwatch, and even your couch – were to get damaged (say, because of burst pipes), you’d be the one who needs to replace them, out of your pocket.
While your landlord’s homeowner’s insurance will cover the actual building you live in – any damage done to your personal property is your own problem.
In other words, living without renters insurance is a bit like a gamble, because your finances aren’t protected.
Best Renters Insurance In Brooklyn
With so many insurance companies to choose from, choosing the best renters insurance company in Brooklyn is not an easy task. Most insurance companies tend to offer something slightly different to help them stand out.
This means that while there is no one best renters insurance company, there is probably one that is best for you.
Here are the best providers of renters insurance in Brooklyn:
- 🏆 Lemonade: Best Overall Renters Insurance in Brooklyn
- Allstate: Best for Bundling Insurance Policies
- State Farm: Best User-Friendly Website
- Farmers: Best for Personalized Coverage
- USAA: Best for Military Families
- Geico: Best for Policy Add-Ons
- Liberty Mutual: Best for Discount Options
- Travelers: Best for Basic Coverage
- Nationwide: Best for Additional Riders
- Assurant: Best for Adding Roommates to Coverage
- American Family: Best for Claims Support
Lemonade uses an AI (Artificial Intelligence) bot by the name of Maya and cheap prices to attract customers. They promise fast service regardless of whether you’re taking out a new policy or getting paid for a claim. Their app is highly rated and is available for both Apple as well as Android devices. They also support a number of causes and are B-Corp certified.
- AI-generated quotes
- One of the cheapest insurances around
- Supports a number of causes
Allstate offers different ways to save on your renters insurance in New York State, with bundle options and many different discounts. You can bundle your renters insurance coverage with your auto insurance, and take advantage of lower prices. If you don’t need car insurance, Allstate also offers a safe home discount and a claim-free discount. Both of these can help you save money on your payable premiums.
- Bundle auto and renters insurance to save money
- Claim-free and safe home discounts available
- Extend your policy by taking out an add-on
State Farm offers a website with friendly help that will walk you through the entire application process, which you can complete online. Here, you will also be able to find information about what is covered and what isn’t. Offers, such as auto and renters insurance bundle, are also available. You will need to get in touch with one of their agents to find out if you are eligible or not.
- Friendly and helpful website
- Online insurance applications
- Offers including auto and renters bundles are available
Farmers’ renters insurance offers personalized coverage and service to help you get the right policy for you. Their website lists the different risks a typical home might face together with the coverage their policy offers. They list multiple ways to save on your premiums with available discounts, including a multi-policy discount, as well as discounts for not smoking and having a security system or a fire alarm.
- Different ways to save
- Personalized coverage and service
- Add-ons available known as article floaters
USAA offers renters insurance that includes floods and earthquakes as standard. With most other insurance companies, these are only available as riders or add-ons. They also have replacement cost coverage. This means you will get compensated to replace damaged or stolen items instead of depreciating their value. You can also take or move your things anywhere in the world without losing insurance coverage.
- Floods and earthquakes covered as standard
- Replacement cost coverage replaces items
- Worldwide coverage
Geico’s renters insurance covers different personal belongings, including electronics, appliances, clothing, and furniture. If you have valuables such as jewelry, you might want to look at taking out a policy add-on to make sure you are covered for items that are of high value. Geico also offers a few different discounts, including multi-policy as well as discounts for having a home security system and sprinklers or a smoke alarm.
- Policy add-ons for high-value items
- Discounts available
- Easy policy management
Liberty Mutual Insurance offers customizable policies that start at really low prices. They also offer a number of add-ons that can help you extend the coverage of your renters insurance policy. These include Personal Property Replacement Cost, Blanket Jewelry, and Earthquake damage. Liberty Mutual Insurance also offers a large number of discounts, including discounts for getting a quote before your current policy expires, buying your policy online, and choosing the automatic payment option.
- A large number of discounts available
- Add-ons to extend the coverage of your policy
- Customizable policies
A Travelers renters insurance policy includes all of the basic covers but also includes property improvements. Here, you will be able to get 10% of any repairs or improvements you have done yourself in the case of damage. You can also get additional coverage, including Contents Replacement Cost, as well as coverage for valuable items. Travelers also offers a number of discounts to help you keep the cost down.
- Basic coverage includes property improvements
- Add-ons available
- Multiple discounts on offer
Nationwide renters insurance has quite extensive coverage that includes alterations as well as credit card coverage. You can also apply for riders to include water backup, earthquakes, theft extensions, and valuables into your policy. Nationwide also offers a program called On Your Side. This free program connects you with an insurance professional who’ll make sure you have the appropriate coverage as well as taking advantage of applicable discounts.
- Free consultation session
- Different riders available
- Includes alteration and credit card coverage
Assurant makes it easy to get insured with a few perks to sweeten the deal. If your landlord requires proof of coverage, they will deliver the papers straight to your door. You can also add roommates to your policy at no additional cost, and if you move your things, the policy will still cover them. Assurant also offers a number of different coverages to help you find the one that is right for you.
- Different coverages available
- Add roommates to your policy for free
- Supports over 1,000 charities
Getting a renters insurance policy from American Family comes with a few features that are nice to have. There’s 24/7 claims supports, different discounts to save you money, and on-the-go access to your account with the MyAmFam app. The app is available for both Apple and Android devices and allows you to track claims, set up payments, and view proof of insurance, among other things.
- Different ways to save
- MyFamApp makes account management easy
- 24/7 claims support
What Renters Insurance In Brooklyn Covers
The actual coverage tends to vary from one renters policy to the next, but the basics will cover you against the larger portion of incidents that may happen. Many insurance companies also offer riders that can help you extend coverage to make sure you are adequately protected.
Renters insurance (which some insurance agents call apartment insurance) can also give you liability protection and cover your additional living expenses (loss of use) should your current place become uninhabitable. Just think of how much money this could save you!
Here’s what a typical renters insurance policy covers:
Personal Property Coverage
Personal Property Coverage covers the loss or destruction of your property. The items covered will be listed in your policy and will typically include furniture items, clothing articles, and electronics. The coverage value will be up to the amount stated in the policy.
Personal Liability Coverage
Personal Liability Coverage will cover you against liability should someone or a 3rd party suffer damages inside your rented property should you be found guilty. This includes bodily injury and damage to property.
Additional Living Expenses Coverage (ALE)/ Loss of use
Additional Living Expenses (also known as Loss of use) will cover the cost of temporary accommodation should you no longer be able to live in your rented property (e.g. because of water damage, fire damage, smoke damage, etc.). Coverage is policy-dependant, so do read the fine print to know exactly what you’re covered for.
Medical Payments Coverage
Medical Payments Coverage will cover medical expenses without assuming any fault or liability. This is typically used for minor injures and is usually quick.
Is renters insurance coverage expensive in Brooklyn?
The good news is that renters insurance coverage is affordable through the entire NYC district, including Brooklyn. Policyholders typically pay $14 per month, on average though most policies will also have a deductible with the amount varying from one type of policy to the next. When you think about the cost of replacing all your belongings vs small renters insurance costs, getting renters insurance totally makes sense for new yorkers.
What’s the best rental insurance in Brooklyn?
Since each insurance company tends to focus on different things, from discounts to riders to lower premiums, there is no one best rental insurance in Brooklyn. Because of this, the best insurance company will depend on your requirements.
If you care about wide coverage more than anything else, you might want to consider USAA. If you prefer to do everything from an app, Lemonade might be a perfect fit for you. Either way, always get multiple quotes and compare the cost and the coverage to make sure you get the best deal possible for your renters insurance policy.
Who has the most affordable renters insurance in Brooklyn?
Both Lemonade and Liberty Mutual have policies that start at $5.00 per month. Of course, the average cost is going to be much higher than that as add-ons and applicable discounts will affect what your premium will cost.
When looking for affordable renters insurance in Brooklyn, make sure you also pay special attention to deductible and coverage as lower prices might not always represent the best deal around. The best way to do this is to get quotes from a number of insurance companies so that you’ll be able to compare what is being offered to you.
Protect Your Finances With Renters Insurance in Brooklyn
Getting a renters policy for your home in New York City can offer financial protection when you really need it. Whether you live in Brooklyn or Manhattan, knowing that you’re financially protected should something go wrong is reassuring.
After all, you don’t want unnecessary costly surprises like damage to your personal property, caused by burst pipes, vandalism, or fire to be draining your bank account. While New York renters insurance is generally quite affordable,
as always, make sure you do your bit and get a few renters insurance quotes online (or from your insurance broker if you have one) before you commit – there are many insurance providers out there, and they offer slightly different things.
Make sure the insurer you go for meets your insurance needs. I hope that this list of the best renters insurance providers in Brooklyn, New York will help you in your search.