A renters policy covers you if you let the bathtub overflow or if someone slips and is injured in your apartment. 

Shutterstock/Ryan DeBerardinis

If you recently signed a new lease for a New York City apartment, or renewed one, you’re probably feeling squeezed by the high cost of housing. But did you know you can get renters insurance starting as low as $5 a month?

Lemonade Renters Insurance, one of the most affordable renters insurance plans available to New Yorkers, will protect your stuff in a bunch of really bad scenarios, like theft, fire, or water damage from a burst pipe or leaky appliance. Your things are even covered if they get stolen when you’re traveling, like if your wallet gets pick pocketed abroad.

While lots of New Yorkers make the mistake of thinking that they’re covered by their landlord’s insurance, that’s just not the case—your stuff is not protected by your landlord’s policy. And a renters policy covers your personal liability, like if you are responsible for property damage from an overflowing bathtub that damages your neighbor’s property, or physical injury to someone, such as a guest slipping and getting hurt in your place.

You can even be reimbursed if your apartment becomes unlivable because of a fire and you need to live in a hotel and order takeout everyday—that gets pricey, fast.

Choose your coverage amount

Need more coverage? Lemonade is one of the most customizable plans on the market. You can choose from a range of coverage amounts and add ons, such as coverage for cameras, bikes, jewelry, or fine art. You choose your annual deductible ($100, $250, or $500) and annual limit (between $10,000 and $100,000) based on what works for you. You also have the choice of paying your premium on a monthly basis or annually.

What isn’t covered? Stuff that belongs to your roommate—they’ll have to get their own policy. But users can add their spouse for free or sign up their significant other for a small fee.

Sign up with Lemonade in minutes

It’s a no brainer, really. You can sign up and get coverage in just a few minutes by answering some questions about your NYC apartment and how much stuff you have. You can also make changes to your coverage through the app or website. Claims can also be submitted through Lemonade’s app—with some claims paid out almost instantly.

Sign up with Lemonade and see why we are named Best Renters Insurance by Forbes and #1 for renters insurance by U.S. World & News Report.

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