Do I need renter's insurance if I'm subletting a condo?

By Alanna Schubach | December 9, 2019 - 10:00AM

I'm subletting a condo from a friend who has apartment insurance. Am I covered, or do I need to get my own renter's insurance?

Your friend's policy won't cover you while you're renting from them, and our experts strongly recommend you purchase your own insurance.

"You are not covered under your friend's policy and definitely need your own policy," says Jeffrey Schneider of Gotham Brokerage (a Brick sponsor). "And your friend needs to endorse his or her own policy to recognize that the apartment is no longer owner-occupied."

Renter's insurance will cover damage to your personal property from water or smoke damage, fire, and theft, as well as injuries that guests or visitors sustain while visiting.

In addition to coverage for damage to your own furniture, clothing, electronics, and other valuables, renter's insurance will cover you for damage you might inadvertently cause to the apartment owner's property.

"For example, if you had a coffee machine that exploded and damaged the kitchen, you would be liable for that," says Deanna Kory, a broker with Corcoran. "The landlord [in this case, your friend], needs to have insurance to cover whatever might be faulty within the walls, but you need to have your property and any liability that might fall on you covered."

This holds true for tenants who are renting in a condo or co-op, or subletting an apartment from another renter: In all cases, it would be wise to purchase insurance.

And in fact, your friend should get in touch with their own provider to update their policy, as they may be voiding their coverage by renting to you, Schneider says.

Fortunately, renter's insurance is relatively inexpensive, but before you buy a policy, take a look at our guide to the questions you should ask while looking for the best coverage.

Trouble at home? Get your NYC apartment-dweller questions answered by an expert. Send your questions to [email protected].

For more Ask an Expert questions and answers, click here.

Rent How can I protect my rights as a tenant while renting in a condo?

Rent Renting a co-op or condo? Here's what you can negotiate when signing a lease

The Market The pros and cons of renting in a NYC condo or co-op building

Alanna Schubach

Contributing writer

Contributing editor Alanna Schubach has over a decade of experience as a New York City-based freelance journalist.

SEE MORE BY Alanna Schubach »

Brick Underground articles occasionally include the expertise of, or information about, advertising partners when relevant to the story. We will never promote an advertiser's product without making the relationship clear to our readers.