Boston Landlord Insurance

Secure Boston, MA Landlord Insurance at a Great Rate

Find the right landlord insurance policy for you.

Home to several colleges and universities including Boston College, Suffolk University and the University of Massachusetts - Boston campus, there are more than 250,000 students attending schools in Boston. It is little wonder then that more than one-third of the homes in this city are renter-occupied. Owning rental property in this city can be quite lucrative, and you will want to be sure to protect your property investment with a Boston, MA landlord insurance policy.

When you are shopping for a suitable landlord insurance policy, you can turn to an independent insurance agent in our network for assistance. Member agents can help you make an informed decision by explaining your coverage options and answering your insurance-related questions. They can use their relationships with several different insurance companies to provide a variety of competitively-priced policies from which you can choose. Contact a member agent in your ZIP code and start comparing Boston landlord insurance quotes today.

Rental Statistics for Boston

  • Nationwide, approximately 33.8% of all homes are renter-occupied
  • In Massachusetts, about 38.3% of homes are rental properties
    In Boston, an estimated 41.9% of all homes are occupied by renters
  • Rent in this city is approximately 48% higher than the national average
  • Average rent for a luxury two-bedroom Boston apartment: $1,900/month
  • Average rent for a one-bedroom Boston apartment: $1,000/month

Investing in rental properties in Boston can be extremely lucrative. Rents here are high, so while you may pay a lot for your initial investment, you may be able to begin making a profit very quickly. It's a good idea to be properly insured so that your investment does not become a liability. As a landlord, you have different risks than a traditional homeowner.  Because your house is renter-occupied, most homeowners insurance policies won't provide coverage for the liability you have. You will need a Boston landlord insurance policy to cover any losses, damages or liability claims you may face.

What Is Landlord Insurance?

Landlord insurance is a specific type of homeowners policy that is designed to meet the unique coverage needs of rental property owners. You can expect a Boston landlord insurance policy to be more expensive than a traditional homeowners policy. This is because you face a greater risk of loss and liability when tenants occupy your home.

Generally, tenants will not care for property as carefully as you would. They might not inform you of issues such as termite damage or water leaks until the problem has escalated and requires expensive repairs. Additionally, if someone is injured on your property, you may be liable for medical and punitive costs. A Boston landlord insurance policy will shield you from these expenses so that your investment can continue to be profitable.

Coverage Against Property Loss and Damage

Your Boston landlord insurance policy will provide coverage for damages to the structure of your rental property and for structures such as sheds and garages. It will also cover loss and damage to any personal property that you keep in the home, including furniture, appliances, carpets, and light fixtures. Your tenants are responsible for covering their belongings through a renters insurance policy.

Your property may be damaged in any number of ways. Harsh weather, including severe thunderstorms and heavy snowfalls, can damage roofs and lead to water damage, mold, and rot within the home. Property crimes, including burglary, vandalism, and arson, can also lead to expensive damages to your property. Landlord insurance can help you financially recover when unexpected and expensive damage to your home occurs.

Boston Property Crime Statistics

  • A total of 3,482 burglaries occurred in this city in recent years
  • This equates to 560.4 burglaries per every 100,000 homes
  • By comparison, the US average is 702.2 burglaries per every 100,000 homes

The burglary rate in Boston is relatively low. However, it is still a factor that must be taken into consideration. Burglars may destroy doors, windows or other property. You can lower your risk by ensuring that your rental units have dead-bolt locks on all outside doors and windows that lock securely. Make sure that all entrances are well-lit and not hidden by trees or shrubbery.

Coverage Against Liability

A Boston landlord insurance policy is designed to provide liability coverage if your tenants or their guests are injured on your property. Injuries or property damage to your tenants or their guests from negligence in upkeep on your part can be a costly claim for you to repay. This can often be a difficult situation, as landlords are often not notified by tenants about problems in their rental units, but can be held liable if those problems result in injuries. Some problems that might lead to costly liability charges include loose floorboards, carbon monoxide leaks, or fire caused by faulty wiring in the home. A landlord insurance policy will cover your liability expenses up to the limit on your policy.

Find Your Ideal Boston Landlord Insurance Policy

To ensure that you are getting a great rate on your policy, it's a good idea to compare rates from at least three different insurance companies. Whether done by telephone or online, this can be time-consuming.  Save time by working with an independent agent in our network. You need only provide your details once and then your independent agent will do the comparison shopping for you.

An agent in your neighborhood can go beyond merely helping you find an ideal landlord insurance policy. Member agents can advocate for you during the claims process and may be able to save you money on other insurance policies that you carry, as well. 

Find a local member agent today to receive a variety of competitively-priced Boston landlord insurance quotes.

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