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Do I Need Renters Insurance in Pennsylvania?

Did you know that the majority of Pennsylvanians rent their homes?  From Philadelphia in the East to Pittsburgh in the West, more young adults and families in Pennsylvania opt to rent an apartment, townhome or house instead of owning.  U.S. Census Bureau data from 2016 even indicates that a higher percent of Americans are renting than at any point since 1965.  Here at Ross Insurance Agency, we feel that whether you rent or own, having insurance coverage you can trust for the place you call “home” is critical to your financial security and peace of mind.

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Some major perks of renting are the flexibility, short-term affordability and lack of responsibility for repairs and maintenance on the home.  With that being said, your landlord’s insurance will only cover general building damage and not your personal belongings that are inside your home.  It is important to consider that carefully when deciding if renters insurance makes sense for you and your loved ones or roommates.

Below, you will find answers and explanations to the most common renters insurance questions:

Am I required to have renters insurance in Pennsylvania?

In short, no – you are not required by the state to have renters insurance in Pennsylvania.  However, many landlords do require their tenants to obtain renters insurance in order to better their overall community.  This should be an important question to ask landlords before signing any agreements.

What are the benefits of having renters insurance?

Benefits of renters insurance are based on the type of policy you have.  Some major benefits include protection from theft, damages, and liability.  For instance, if your rented apartment or house is broken into and some of your personal belongings are stolen, renters insurance can help you replace them.  It can also help protect your belongings even if you are not at home (say your laptop is stolen at a coffee shop or your car is broken into – a claim can be made to your renters insurance policy).  Lastly, renters insurance can also protect you financially if someone were to be injured on your rented property.  Some policies will even cover the cost of alternate living arrangements if you have to temporarily relocate due to damage in your rented home.

How much does renters insurance cost?

Luckily, Pennsylvanians can acquire renters insurance very affordably.  Policies typically average $12-15 a month.  So, for only about $150 a year, you can rest assured that all of your personal belongings are safe and sound no matter where you call “home.”  You can also bundle renters insurance with other insurance services for even bigger savings and protection.  We would be happy to help you find the best personal insurance coverage plan for you and your family.

When it comes to renting an apartment or house, protecting your personal property from theft, fire or vandalism with renter’s insurance is an important and affordable decision. With more than 50 years’ experience in helping homeowners and renters in the Lancaster, PA region, Ross Insurance Agency is ready to provide the personalized guidance you need to protect your home or personal belongings.  Fill out our Ross Review form on our website or call us at (717) 397-4729 to discuss your renters insurance options today.  We look forward to serving you and all of your personal insurance coverage needs!