New Jersey Renters Insurance can be purchased from a number of companies. Generally, renters insurance in Jersey City runs a bit lower than the national average of $15.00 monthly. This has to do with the fast response times of fire departments and police in NJ, as well as the low loss ratio. Part of that low loss ratio is due to the fact that few people have Jersey City, NJ renters insurance. This is something that absolutely needs to change.
Most apartment communities in NJ require renters insurance of their residents. This protects both the resident and the property. By having liability coverage on renters insurance, the resident knows that if they negligently cause damage to the property they won’t be on the hook financially for it, especially if it affects multiple units – that sort of damage gets very expensive very quickly, and can be caused by something like a fire.
Renters insurance in Jersey City doesn’t just protect you from liability, though. It also providers personal property protection. That’s important, because whether your negligence or someone else’s actions cause a personal property loss, no one can afford to replace everything they own out of pocket, all at one time. With personal property coverage, you don’t have to. You just have to make a claim, and the insurance carrier takes care of it. Jersey City renters insurance covers at least fifteen named perils, that are the most common renters insurance causes of loss.
In addition, your coverage also provides for loss of use. That means that if there’s a covered claim that impacts your ability to use the apartment, you have coverage for the cost of someplace to stay and the additional living expenses. This is important because there are many things that can happen that would prevent you from using the apartment, but perhaps not directly impact your liability or personal property. For example, if there’s a fire in a neighboring unit and an engineer needs to be sent out to determine if the building can be safely occupied. It might be days until that process is complete. A fire is a covered loss, so even if it didn’t cause damage to your apartment, if the building is not usable, the fire is still the cause of loss so you still have the additional living expense coverage.
Renting In Jersey City, NJ
Jersey City is a fun place to live. The median age of residents is just 33 years old, so the city caters to a somewhat younger crowd. This provides plenty of opportunities for your downtime. Nearby Hoboken provides a maker space for high tech project collaboration if that’s your hobby, or you can just walk along the river and enjoy the view.
With many ethnic restaurants, an up and coming arts scene, and an educated, young population, Jersey City has been called the New Brooklyn. It’s definitely cheaper to rent here, at an average of $1,900 versus Brooklyn’s $3,000 average! One bedroom apartments are even cheaper, generally below $1,000. It’s cheaper to buy a home here, too, but a young, well-educated population probably has so much student loan debt that they’re better off renting. Over 30% of the 20-34 demographic is still enrolled in college or postgraduate education, so that debt continues to stack up.
Roommates are common here, which helps with the cost of rent. You do need to speak with your provider to make sure that your roommate is covered by your renters insurance in Jersey City, though, because that’s not automatically the case.
It’s common, but not an absolute requirement, to pay a fee to find an apartment in Jersey City. You don’t absolutely have to, but doing so may reduce the time it takes to find a place to rent. Make sure you work with a legitimate service, however. There are unsavory types who simply copy and paste newspaper apartment listings and charge you for the privilege of reading what you could have gotten for free online anyway.
While there are certainly high rise luxury apartments to be had in plentiful supply, Jersey City is also graced with smaller and medium-size management companies that own single-family residences and rent them either whole or broken up into apartments. An example of this would be Dixon Leasing, which offers primarily single family homes for rent in Jersey City and the surrounding areas.
If you rent in Jersey City, parking can be problematic, but that comes with the territory this close to NYC. Many people survive using the NJ Transit and the PATH train to get around. You have to account for a bit more time on your commute that way in some cases, but it may save you both money and hassle. Parking spots can be rented, but they often come at a significant premium.
Renting in Jersey City is easy, but there are definitely many things to keep in mind about the process. The first thing you should do, before you even take occupancy of your new apartment, is to get Jersey City renters insurance. At just a few dollars a month, it’s the best value of any service you’ll have in your new apartment!