Protect your space, belongings – and your peace of mind – with renters insurance

In some cases, your landlord or apartment complex may require you to have renters insurance, but often it is not required. However, we always recommend it for property and liability protection.

Without renters insurance, you could lose a significant amount of your possessions through theft or a disaster. You could also be uncovered in a lawsuit if someone were to get hurt in your apartment, or even if someone accused you of libel, slander, or defamation.

The answer to this one is pretty simple. If you want full coverage, you should make sure your policy covers the cost of all your possessions.

To figure this number out, you don’t need to work too hard. Just roughly estimate the value of your possessions, overestimating to ensure full replacement coverage.

For items with any limitations, such as jewelry, you will need to purchase extra coverage to cover the value of all your items.

For a more accurate estimate, reach out to your insurance agent.

Renters insurance costs can vary depending on building factors (such as age, materials, etc.) as well as the coverage amount you decide to purchase based on the value of the possessions you own.

Somebody with valuable jewelry, art, etc. will pay much more for renters insurance than someone with minimal valuable possessions.

The average cost of a renters insurance policy in MA is $194 (approximately $16 a month), but as we said, it can vary.

If you’ve had an incident requiring a renters insurance claim, don’t panic. Your insurance agent can help you navigate through it easily.

Once you’ve made sure you and your family are safe, you’ll want to gather information about the claim including what happened, when it happened, what was damaged, if anybody else was involved, and photos of the damage. 

Once you’ve collected that information, inform your insurance agent who will report it to your insurance company and get an adjuster assigned to review your claim information and make a determination.