Arson is a crime that continues to occur, sometimes as a result of teenage vandalism or a malicious act and sometimes as a deliberate intent to defraud insurance companies. Whatever the reason for a house fire, if you are living in that property as a tenant and suffer the loss of your personal property, the chances are you will only be able to recover that loss financially if you have renters insurance NJ.
Your landlord’s property policy is likely to include fire coverage however this doesn’t offer financial protection for your possessions. In the event that the fire is declared suspicious, there will be an investigation and the landlord will have to deal with the possible insurance implications as far as the building itself is concerned. Whether the fire was intentionally lit or not, the event could leave you out in the cold – without somewhere to stay, and minus everything that made your place a home.
You might have friends who can take you in and look after you for a little while. However, if you have renters insurance NJ, you may be able to claim on your policy to replace your furniture and other valuables as well as funds to pay for temporary accommodation. Don’t get caught off guard by not having this coverage – even though you don’t own the home, you do own your contents, so it is your responsibility to ensure that you have appropriate insurance to protect yourself financially against a loss.