Massachusetts Renters Insurance

We work with all of the major insurance carriers in Massachusetts who offer renter’s insurance to consumers. From the comfort of your home or office you can compare policies and get quotes from several different insurance companies. Our friendly and professional staff is available 24 hours a day, 7 days a week to assist you in finding the most comprehensive renter’s insurance policy for the best possible price. Let us help you take the guesswork and confusion out of buying renter’s insurance. You can then relax knowing that your personal property and valued possessions are adequately covered in the event of theft, fire, and a host of other possible disasters.

Why It’s Important to Have Renters Insurance If You Live in Massachusetts
If you are currently renting a home or apartment in Massachusetts, you may already be familiar with renter’s insurance and why it is so important to have adequate coverage for your personal belongings. Statistics show that over 80 million Americans are now leasing rental properties. The recent mortgage meltdown and financial crisis have made the dream of homeownership much more difficult for people to attain. Most mortgage companies have tightened their lending requirements and also continue to demand very hefty down payments from consumers trying to buy a home. This situation has caused a great increase in the number of people looking to rent a place to live. Unfortunately, even though there are more people renting rather than buying, the number of people actually purchasing renter’s insurance is alarmingly low.

In a recently commissioned survey by Allstate, it was found that nearly 43 million renters would have to personally pay to replace some or all of their personal property in the event it was lost or damaged due to fire, theft, or some other covered natural disaster. Most renters cannot afford to do this.

Insurance industry experts agree that the main reason people don’t buy renter’s insurance is a general lack of understanding about how it works. Read on to discover the common myths about renter’s insurance and why you should know the true facts.

Common Myths about Renters Insurance
There are many reasons why people think they don’t need renter’s insurance coverage. Unfortunately, most of them are not based in fact. Here is a sampling of the most common myths:

  • It’s too expensive. Renter’s insurance is actually a great deal. The average renter’s insurance policy costs between $200 and $300 for an annual premium. This breaks down to around $18-$25 per month, depending on the value of an individual’s personal belongings, where the rental property is located, and other factors. For this price you can normally get $30,000 of personal property coverage along with $100,000 of liability coverage. When you consider what it would cost to replace your personal property in the event of theft, fire, or some other covered natural disaster out of pocket, it’s easy to see why having renter’s insurance coverage is a smart choice.
  • I don’t own very much. It’s a well-known fact that most people severely underestimate the monetary value of their possessions. An easy way to calculate this is to make a complete inventory of everything you own and put a current price tag on each item. You will probably be amazed at how quickly it adds up. You should include furniture, clothing, appliances, electronic equipment, rugs, jewelry and all other items inside of your home or apartment. Unless you can afford to personally pay to replace all of this property, renter’s insurance is the safest option.
  • My landlord’s homeowner policy will cover my things. Your landlord’s homeowner insurance policy only covers the actual building (structure) where you are living and the land on which it is built. Everything inside of the apartment or home is the responsibility of the renter.

Another important reason to have renter’s insurance is that a typical policy also includes liability protection. Liability coverage protects you in the event a visitor is injured in your home or apartment. Many people don’t think about the consequences of this happening, but unfortunately accidents do occur. Without the proper liability coverage, you can be sued for damages. This can put your income, your savings, your personal property and even your future wages at risk.

Don’t Delay
In today’s busy world, it’s easy to put things off. But disasters have a way of striking when you least expect them. A burglary, fire, or weather-related problem can happen at any time and if it does, you want to make sure you are protected. Don’t be faced with the situation where many or all of your personal possessions are damaged or lost and the only way to replace them is to purchase everything yourself. The truth is almost no one can afford to do this. Renter’s insurance is the smart and responsible choice for anyone leasing a property in Massachusetts. Contact us today and we’ll help you get started!