Renters’ insurance is a type of insurance policy that protects a renter in the event that something happens at their home, like a fire, flood, or theft. While homeowner insurance policies are designed to protect the property owners from the cost of those losses, renters and their possessions are almost never included. This means if you’re renting, be it a room or a whole house, you’re going to want to have a renters’ insurance policy of your own to cover your belongings in the event the unimaginable happens to your home.
“Typically renters’ insurance is not very expensive, so the benefits outweigh the costs,” explains Shaun Pappas, partner at Starr Associates. “In case of an incident in the apartment, even if it is not necessarily the fault of the tenant, having renters’ insurance will be useful and will allow the tenant to seek reimbursement.”
Fortunately, because it insures the possessions within the home and not the actual building, a renters’ insurance policy only costs a fraction of what a homeowners insurance policy does. In other words, there’s practically no reason for you not to carry a policy for yourself. No more putting it off — here are five companies that you can get a quote from today.
Starting cost per month: $5
If you’re looking for a quick and easy way to get a quote, look not further than Lemonade. You can have one emailed to you after answering a few quick questions on their website (we clocked our estimate at 70 seconds). And according to their website, filing claims is supposed to be just as fast. Unlike other companies, Lemonade doesn’t have any brick-and-mortar locations, which is probably how they keep the costs so low.
Starting cost per month: $10
If you have 60 seconds, you can get a quote from Jetty from your phone or computer 24 hours a day, 7 days a week. Unlike other insurance companies, Jetty partners directly with property management groups, which means you can only sign up for a Jetty renters’ policy if you’re renting from one of their affiliated properties. One of the perks of a Jetty policy is that they offer a program that allows renters to avoid making an upfront cash deposit by charging them either a one-time refundable fee or a low (but
non-refundable) monthly payment. The downside is that the site doesn’t make it easy to search out participating properties, so if that upfront deposit has been keeping you from moving, you likely won’t know if the building you’ve been considering is affiliated with Jetty until you’ve spoken with the leasing office.
E Premium Insurance
Starting cost per month: $11 to $22
Similar to Jetty, E Premium Insurance is a renters’ insurance company that is tied to the property management company. So, you won’t be able to take advantage of some of the benefits of E Premium Insurance (like their deposit assistance policy, which is also similar to Jetty’s) if you’re looking to move somewhere unaffiliated with the company.
However, if you haven’t decided on where you’re moving yet, you can check out the E Premium website to see what buildings are affiliated with the company. Their online tool allows you to search by zip code to find participating properties in your area.
Starting cost per month: $12
Like other traditional insurance companies that offer multiple product lines, GEICO offers discounts to renters who bundle their rental and auto policies. Plus, they have a handy online tool that will actually help you calculate the value of your items and figure out how much insurance you need, unlike other companies that estimate values for you. This tool can be perfect for renters who have unusually expensive electronics, or unique collections that may require a little more information (like comic books or original artwork) when pricing out policies.
Starting cost per month: $20
If you’re someone who prefers sitting down with your insurance agent in person (or dropping off your payment directly in their office), you’ll love the traditional trappings of Nationwide. Also, because Nationwide offers so many different services — they carry auto, life, and more — you can save money by bundling their services (for example, using them for more than just your renters’ insurance needs).
Our team has had the pleasure of working with Starr Associates on our project at 150 Rivington Street. The entire Starr team was a tremendous asset to the success of our project. Through very challenging times, Starr Associates came through time and time again. It is an honor to work with everyone at Starr!
I have known Allan Starr for many years and worked with him on many projects. He has always exceeded my expectations. He not only knows the ins and outs of the law, but knows how to make the whole process easy and quick. I’ve found him to possess an incredibly astute legal mind, combined with a common sense approach that always accomplishes my goals. He’s not only a gentleman and a friend, but a brilliant lawyer.
It has been an absolute pleasure working with Allan Starr and Samantha Sheeber over the past twelve years. They are not only the utmost professionals, but also wonderful people who I have grown to love like family. I trust them with all of my new development projects and private clients, and we support each other in our business and personal lives. Starr Associates LLP has always been there for me and my clients and I would recommend them as highly as I recommend anyone.
Allan and I have worked together for decades; along the way, I have worked with Samantha Sheeber, Andrea Roschelle, John Rodriguez and Erica Starr and have always been pleased with their quick and accurate responses. They have worked with us on closings (with great and efficient results), restatements of stale plans, amendments and other assorted AG requirements, always on a timely and cost-effective basis.
“Working with Starr has been great on three condo projects in Manhattan to date. The accessibility and direct attention of the partners is unsurpassed. Allan and Sam have the interests of the owner at heart and make every effort to protect our interests in a responsible and defensible manner. Their practical approach and deep knowledge of the offering plan process and requirements of the AG office combine to make a highly effective and efficient package. At the associate level they have good support as well. The closing office has to be the best in NY – never a failed closing in 15 years. We are repeat customers and will be going forward.”
“Samantha Sheeber is a partner in making transactions successful. She’s resourceful, respected, smart, funny as hell, and is swift to constantly embarrass us (and clients) because she sees the end while we all muddle in the middle. She saves time. She is selfless and fast and conscientious. She’s loyal to the notion of selflessly getting stuff done. She cultivates great talent. And she makes the process fun, even when she is mad at us for asking the same impossible question 11 times hoping for a new result (a solution for which — by the way — she often discovers).”
“As an active developer in New York City, Magnum Real Estate Group is proud to have partnered with Starr Associates, LLP as our legal counsel in 5 significant projects valued at approximately $800 million. Over the last 5 years, Starr has provided us with exceptional advice on condominium Offering Plans and related transactions. Partner Samantha Sheeber, Esq. and her team have professionally guided us, and provided creative and effective solutions when needed.”
“I have had the fortunate opportunity, over the past 16 years, to work with Allan Starr and Samantha Sheeber who I consider to be experts in the field of real estate law. They, together with their team, have a deep understanding of Attorney General Offering Plan registrations and continually seek to identify creative solutions to complicated issues. Their level of integrity and commitment are unwavering no matter how large or small a project. I completely endorse Starr Associates LLP and look forward to our mutual continued success.”
“Starr Associates’ specialty in the creation and representation of condominiums is unmatched. Their knowledge, experience and professionalism in the office condominium sector is best-in-class. Starr Associates’ hard work and expertise has been critical to the success of our firm’s office condominium projects.”
“Starr Associates have been our condominium attorneys for many years. Their counsel goes well beyond just drafting the condominium documents, which of course they do extremely well. They also represent us and our brand with condominium unit purchasers, and with our lenders and partners on condominium related matters. We have always found Starr’s attorneys to be professional, responsive and cost-conscious.”