Many people wonder if their living situation will qualify them for coverage. Since the economic downturn hit many people hard, we’re commonly asked if it’s possible to get renters insurance without a lease. More people than ever before share apartments in unofficial arrangements or live at home. How do you protect your property in that situation? If you share an apartment in Philadelphia or Harrisburg, both expensive cities, can you still get Pennsylvania Renters Insurance?
Renters Insurance Without A Lease
Let’s clear up a small misconception first. In all but the shortest-term scenarios, if you’re living somewhere that you don’t own, you have a lease. It may only be a verbal agreement, but there is an agreement allowing you to live there. That agreement probably gives you a tenancy in return for paying rent. Even if you don’t pay anything to live there, chances are strong that you have a lease.
Are you still a tenant if you’ve just moved in on a weekly verbal agreement with no money changing hands? Probably, though you might not have all of the rights that go with it yet. What you do have is the ability to get renters insurance without a lease. To get renters insurance, you need to meet the following criteria:
- You have to be living… Zombies aren’t eligible because of the huge liability and med pay to others exposure from random body parts falling off at the drop of a hat.
- You need to be living somewhere.
- You can’t own that somewhere.
You’re not a zombie, right? You live somewhere, right? And if you’re asking about renters insurance without a lease, you probably don’t own the place where you live.
You can get renters insurance. It’s that simple.
I Live With A Friend, Does Their Renters Insurance Cover My Stuff?
If you were a guest in your friend’s home for a few days, their policy could cover your property. The coverage would be at their option, but they can request it. If you’re living there, you’re not a guest. You’re a tenant. Renters insurance won’t cover another tenant in the dwelling unit. Worse, coverage for personal property doesn’t apply in the part of the dwelling that’s rented to others. You’re responsible if you damage property belonging to the person you’re living with.
To be covered, you need to get renters insurance without a lease. It’s not difficult to find – the vast majority of companies will not even ask if you’re on the lease. You can even buy Pennsylvania Renters Insurance with monthly payments. If you’re not sure how long you’ll be living there without a lease, you should know that the policy can easily be moved to another location.
Does It Matter Where I Live?
Renters insurance without a lease isn’t a problem. But certain types of dwellings can be difficult to insure. You’ll have trouble finding a policy for a trailer, for example. If the premises are in severe disrepair, you might find getting covered to be challenging. Why is the condition of the building important? The insurance company wants to be sure there are no significant risks.
Just because you don’t own the building doesn’t mean an injured person won’t sue you and the landlord. If the handrail on the front steps is barely attached and the mail carrier falls, you can bet they’ll name you and the landlord in their lawsuit. Your insurance company wouldn’t knowingly cover a building that presented significantly more risk than other similar buildings.
Damage or disrepair to the exterior can make insurance difficult. In addition, what’s in your yard matters. Is there a pool or trampoline without a fence? Even if they belong to one of the other tenants in the building, companies will be reluctant to write a policy with an attractive nuisance that could easily cause a liability claim. Insurance companies are in the business of assuming calculated risk, and problems with the home or exterior significantly change the equation.
How Can I Get Renters Insurance Without A Lease Quickly?
Effective Coverage offers the nation's only completely mobile platform to quote and purchase renters insurance right from your phone or tablet in just one minute. Get an online renters insurance quote today and protect your family.
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