Mandates renter's insurance for individuals leasing dwelling units.

This bill requires renters in New Jersey to obtain renter's insurance before signing or renewing a lease for a dwelling unit (a self-contained residential space like an apartment or house). The insurance must protect tenants against loss of personal belongings, liability claims, and additional living expenses if they're displaced from their home due to an incident like a fire. The law takes effect 90 days after enactment and applies to all new or renewed leases after that date. It directly affects all individuals leasing residential housing in New Jersey, mandating insurance coverage rather than merely allowing it.