Why Should You Get Renters Insurance in Massachusetts

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Massachusetts is home to cities like Boston, which is this decade’s champion in the highest share of new high-rise apartment buildings, at 55%. On the other hand, the western part of the state is quite famous for its natural scenic beauty, with easy access to large cities.

Being the 15th most populous state in the U.S., the median home value in Massachusetts is about $400,000. That’s why nearly 38% of households are renters in the Old Colony State. 

With almost 40,000 property crimes across twenty cities—the most crimes per resident—it’s a no-brainer that renters should get renter insurance Massachusetts. Renters insurance from a qualified insurance company can help you stay covered and lead a peaceful life. Here are some potential reasons why you need renters insurance in The Bay State.

Protecting Your Personal Property

In Massachusetts, the renter’s insurance covers your personal property damages due to specific perils like fire, vandalism, wind, and ice and snow weight.

You might find many apartments in The Bay State converted from older residences of wood frame construction. A small fire in a home can engulf an entire building. Even if you plan your safety measures against fire accidents, your neighbors could cause you trouble. Renters insurance protects you from the risks that other people pose to your property.

Renters Insurance Protects from Theft

Nearly 7000 burglary and 12,000 larceny thefts across Massachusetts recorded in the past few years. Check compareaquote.com for Renter’s Insurance.

The good news is that The Bay State renters insurance covers theft with replacement cost coverage, but with some rules. For instance, you can get a stolen computer replaced, but not your work product. 

Affordable Insurance Coverage

Be it the prestigious Harvard University or MIT, known for its dynamic engineering and science programs, it isn’t easy to find an apartment in The Bay State. However, the renters’ insurance is quite affordable across the state.

For the average rent of $1,500 to $2,000 a month, renter insurance in Massachusetts is reasonable, costing you about $14 a month. 

Helps You Avail Liability Coverage

Did you know that Boston ranks as the third most expensive rental market in the U.S.? Taxes are high, and no wonder the state is often referred to as Taxachusetts.

With such an expensive budget, can you bear the expenses of someone suing you for damages due to your negligence?

Not to worry, Massachusetts renters insurance includes liability coverage; you will have coverage for payment of damages caused due to your carelessness. Typically, the medical payments to others start at $1,000. However, you can increase the limit to $5,000 for a minimal cost.

Some Landlords Request for Renters Insurance

Though the law might not require renters insurance in Massachusetts, your contract most probably does. 

As of 2020, your lease will require that you have Massachusetts renters insurance with additional interest.

The Bay State landlords are looking for less-risky tenants, and having renters insurance makes you look like an excellent prospect as a renter. 

Not Able to Use the Property, Renters Insurance Will Get You Covered

In Massachusetts, renters insurance covers property damages due to frozen pipes, though it’s the landlord’s responsibility to repair the pipes.

In such situations, homeowners here let you move back into the property, once all repair works are complete.

But, where would you stay until then, and how would you manage your expenses? Staying at a hotel for weeks isn’t cost-effective either, as hotels in Massachusetts charge over $100 a night.

The renters’ insurance gives you an alternative option through the loss of use coverage, ensuring you can take care of your expenses in the interim period. 

Renters insurance in Massachusetts can protect your entire family, including children who cannot avail of their policies. Thus, locate your nearest insurance agency, to get a reliable renters insurance for protecting yourself, your family, and valuable belongings.