Proudly Providing Renters Insurance to Residents in Massachusetts & 46 Other States Across the Nation
Renting a home provides a flexible and affordable lifestyle for students, young adults, families, and seniors, making it a popular option for many Massachusetts residents. However, many tenants are not aware of the financial risks associated with renting. If your rental unit is damaged by fire, storm damage or other event, your personal belongings will not be covered under your landlord’s insurance policy. You need renters insurance to protect your personal possessions.
Property insurance coverage helps to cover your personal belongings against a wide variety of loss situations including:
Your policy will help to pay, up to the policy limits, for the repair or replacement of your items, significantly decreasing your out of pocket costs when a disaster strikes. Your insurance may pay the actual cash value or the replacement value, depending on the terms of your policy. Discuss with your agent which type of policy is best for your situation.
When accidents happen, lawsuits can result. While your landlord is typically responsible for accidental injury that occurs due to their negligent management of the property, if a guest or worker is injured while inside your unit, you could be found personally liable for their medical costs and other damages.
Liability coverage helps cover these expenses as well as your legal costs. Your liability protections extend to all members of your family, and apply inside and out of your home. Dog bites, backyard injuries, and other situations can all be covered by your liability policy.
While your renters policy will not cover damage to the building structure under your property coverage, your liability protections may help pay for repairs if you are responsible for a fire or other accidental damage.
If your apartment is damaged so severely that you have to leave while repairs take place, you could find yourself paying expensive short-term rental fees, extra utility costs, eating at restaurants, and otherwise racking up expenses that you otherwise would not have had. Fortunately, most renters policies include loss of use coverage to help cover this situation. This important coverage can help you get back on your feet after a disaster.
Renters insurance is an affordable way to protect your belongings and other assets from losses that may occur. With property, liability, and loss of use coverage, Massachusetts tenants can have a wide range of financial protections against fire, theft, vandalism, accidents, and other damages.