Massachusetts Renters / Tenants Insurance
Whether you rent an apartment or a single-family home, the insurance on the building will not provide any coverage for your personal belongings and your personal liability.
Renters insurance includes coverage for:
- Personal property
- Loss of use
- Personal liability
- Medical payments
The two most important parts of a renter's insurance policy are the personal property and the personal liability coverages.
Personal property consists of your household belongings - furniture, clothing, jewelry, appliances, computers, kitchenware, etc.
Once you have decided on the value of your personal property, that is what you should list as the amount on your renters policy - for example, $20,000.
The cost for your policy is based on the amount of personal property coverage you purchase. The average cost of a renter's insurance policy is estimated at less than $200 per year.
Personal liability protects you in the event that you are sued for bodily injury or property damage caused by your negligence. This could result from a slip-and-fall accident that occurs on your premises. The policy automatically provides $300,000 in coverage and may be increased if you should choose to do so.
Additional Coverages and Credits
There are many additional coverages that you may want to add to your policy as well as credits that you may qualify for based on your personal situation. Please contact us at 1-800-333-7234 and select "2" to discuss these options for a renter's policy that will protect you and your assets.