Is Renters Insurance Required in Pennsylvania?

The Oregon housing market is booming, and with this comes increasingly stringent laws on both renters and landlords. As a person renting a house or apartment in the Harrisburg, PA area, you may have already heard of renters insurance. But is it required in Pennsylvania? Well, the answer is actually more complicated than it may appear. Henderson Insurance Agency offers renters insurance in the Astoria area, as well as important advice on this subject. Here’s what you need to know:

Renters Insurance is Not Required Under State Law, But That Doesn’t Mean It Isn’t Mandatory

Sound confusing? At face value, it is. But the most simple explanation for this is that while the state does not legally require it, landlords and property management companies certainly can. So, you must talk with your potential landlord and read the lease agreement closely before signing to know what you are personally required to do. In most cases where renters insurance is required, it is just as a means of protecting the property value, the renter, the landlord and any adjoining neighbors in the event of severe damage or events like a fire. 

Landlords Must Still Adhere to Legal Restrictions When Mandating Renters Insurance

Landlords do not have all the power here. For example, they cannot just come up with minimum coverage requirements that renters are unable to afford. In Pennsylvania, the coverage amount may not exceed the amount that other rentals in the area with similar values are insured for, or simply $100,000 (this is per occurrence), whichever amount ends up being higher. Landlords must also let rental applicants know in writing before the lease is signed that they intend to require a renters insurance policy. If the lease is already in effect, it is possible for the landlord to amend it to require renters insurance, but they must give the tenant at least 30 days notice. 

If you are a tenant or a landlord in the Harrisburg, PA area and wish to learn more about renters insurance, contact Henderson Insurance Agency today.