Massachusetts Renters / Tenants Insurance

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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

Personal property consists of your household belongings - furniture, clothing, jewelry, appliances, computers, kitchenware, etc. Your personal property would be covered for possible events that are listed on the policy, such as fire, smoke, water damage, windstorms, lightning, theft and vandalism.

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

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.

Benefits of Renter's Insurance

In additional to having peace of mind, there are many befits to having renter's insurance:

  • Hotel costs after a disaster - additional living expenses while your apartment is undergoing repair after a disaster, like a fire.
  • Medical expenses for injured guests – coverage starts at $1,000 and goes up to $5,000
  • Damage your child inflicts on others - liability insurance to cover injuries or property damage you and your family members cause others
  • Legal costs if you’re sued - If someone gets injured in your apartment or you accidentally hurt someone and are sued
  • Belongings away from home – off-premises usually limited to 10% of the personal property listed on the policy

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.