Affordable living options in Boston may be hard to find, but you will likely find the search for renters insurance to be much easier. Whether the housing market crash that’s slowly healing itself or the stricter laws on obtaining home loans are to blame, rental costs in Boston are at an all-time high. Once you manage to find your dream apartment, make sure you protect your belongings with Boston, MA renters insurance.
What kind of insurance do you need for the best protection? An independent insurance agent in our network can help you make informed choices. Your agent can help you analyze your risks and find a policy that works for you. Contact a local member agent today to compare Boston renters insurance quotes and find a policy that fits your needs and budget.
Most Expensive Rent in Greater Boston
- Newton: $3,272
- Kendall Square: $3,206
- East Cambridge: $3,194
- Downtown Crossing: $3,158
- Theater District: $3,125
Most Affordable Rent in Greater Boston
- Chelsea: $1,505
- Hyde Park: $1,541
- Everett: $1,572
- Revere: $1,593
- Quincy: $1,670
Boston Renters Insurance Coverage
The structure of your apartment - the building itself - is covered by the landlord’s insurance policy. The main purpose of Boston renter’s insurance is to protect your personal belongings as a tenant. Natural disasters like hurricanes, fires and earthquakes can quickly demolish your apartment and destroy your belongings. How will you replace them?
If you have Boston renters insurance, you can simply make a claim to receive benefits for a covered loss. Of course, you need the appropriate coverage limits to be fully compensated for your lost belongings. If you aren’t sure how much your property is worth, contact an agent. An independent agent can help you create an inventory of your personal property and schedule any valuable items. Our agents will also help you set the right liability limits. If you have a large amount of personal assets, you may want to consider an umbrella liability policy for adequate financial protection.
Boston Renters Insurance: What Isn't Covered?
While renters insurance is a valuable product for anyone living in a rental unit, it has limitations. Certain types of personal belongings like jewelry, art, antiques and electronics have specific exclusions built into basic renters policies. If you have expensive items, ask your agent how you can ensure these items are covered. You may need additional endorsements for them. Renters insurance does not usually cover flooding or earthquakes, so you may need to obtain separate policies for complete coverage. If you live in a hurricane zone, you may need flood insurance, which you can obtain through a local independent agent in our network. One of these agents can help you identify your specific risks and take care of all your insurance needs.
How Much Does Boston Renters Insurance Cost?
The cost of your insurance policy depends on several things. If you require a high coverage limit complete with special riders for your valuables, your policy could be well over $200 per year. A basic policy may cover your belongings if you do not have expensive electronics, artwork or other specialty items to protect. However, it is always important to consider whether the amount of liability coverage available in a bare bones policy is adequate. Be sure to talk through a number of different scenarios with your agent, such as slips and falls within your rental unit, as well as the financial assets you want to protect in the event an injured party files a liability claim for injury, libel or slander.
How to Compare Boston Renters Insurance Quotes
Getting the right coverage for your specific needs is important as is getting the right price. With the high cost of living in this area, you may be interested in saving money wherever you can. Fortunately, renters insurance is one of the most affordable policies available. When you work with an independent agent in our network, you will be able to compare multiple quotes on policies that are tailored specifically to you. You will also get the help you need to make an informed choice.
Contact a local member agent for assistance today.