While these are included in many renters policies, the coverages, terms, and conditions can vary a lot. Therefore, it’s important to carefully review a renters policy to determine precisely what protections it affords.
Who Should Consider Getting a Renters Policy?
Anyone who rents an apartment, condo, townhome or house ought to consider getting a renters policy. Even people who lease one room within a house may want coverage.
For, without a renters policy, renters can be exposed to financial costs they can’t afford. Few renters could afford to replace all of their belongings or the legal costs associated with a liability lawsuit. A renters policy with robust coverages can help make sure a renter won’t have to pay these expenses if they experience a covered incident.
Do College Students in Massachusetts Need a Renters Policy?
Whether or not students attending one of the colleges or universities in Massachusetts need a renters policy depends on the terms and conditions of their parent’s (or legal guardian's) homeowners, condo, or renters policy, and where they live. In some cases, students who live on campus might not need their own insurance policy. In other cases, students may need their own coverage. Students who move off campus often need their own renters policy.
How Much Does a Renters Policy Cost?
Exact rates for premiums vary, but most renters policies are quite affordable. Because insurers don’t need to cover a building, they’re usually able to keep premiums low -- often much lower than the premiums would be for a comparable homeowners policy.
How Can Renters Get a Renters Policy?
To find out exactly how much a renters insurance policy will cost, and to sign up for one, renters should contact an independent insurance agent in their area. Most insurance agents who are licensed in Massachusetts are able to help renters shop for policies, and independent agents are able to compare policies from multiple insurers so renters can get the best coverage at the most affordable price.
Your Stuff is Worth Protecting
Massachusetts residents don’t have to own a house to be burglarized or named in a liability lawsuit. Renters face these potential risks, just as homeowners also do. Renters insurance provides renters with coverage from these and other risks they’re exposed to, without providing unnecessary coverages for buildings they don’t own.