Massachusetts Renters Insurance – Necessary and Inexpensive

Many renters believe that Massachusetts renters insurance is too expensive when in reality it can be purchased in some cases for the price of two movie tickets – about $20.00 per month. Some renters, especially students, do not think their possessions are worth insuring - until they have to replace everything that is. Others are under the misconception that the landlord’s insurance covers the renters’ personal property when, in fact, it only covers the building structure and not the inhabitants’ possessions.

College students and their parents often mistakenly believe that the student’s property is always covered under the parents’ homeowner’s policy. The parents’ homeowner’s policy might cover the student’s property while the student is living on campus in a dormitory, but not if the student lives in an off-campus apartment. Off-campus dwelling usually requires renters’ insurance to provide full protection of the student’s personal property. In any case it’s important to check the policy documents.

Renters’ insurance can also cover liability of the renter for any accidents resulting in injury to any persons visiting the apartment or rental property. It may include medical treatment including surgeries, hospital stays, and rehabilitation as well as time off work for the person who was injured.

There are ways for students and other renters to save money on Massachusetts renters insurance such as using the same company already providing their life or auto insurance. Multiple policies with the same insurer often result in a discount being applied to one or more of the policies. Lastly, all roommates may have the option of combining their resources and using the same company for their individual renters’ insurance to get a better rate for all.

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