Make These Considerations When Buying Renter Home Insurance in Boston

Those renting homes and apartments should consider purchasing a policy to protect their possessions. A policy held by a landlord protects the structure itself, but other liabilities must be covered by the tenant. While almost all homeowners have insurance, only about 38% of renters have coverage according to a poll done by the Insurance Information Institute. Even if a renter thinks they do not need insurance, they should consider these six reasons when contemplating buying Renter Home Insurance Boston.

It’s Relatively Affordable

A renter’s policy costs less than $200 per year, according to 2013 figures from the NAIC. Actual costs depend on factors such as coverage needs, the policy type chosen, the deductible amount and the home’s location. A local insurance agent can help renters evaluate these factors and choose the right policy.

It Covers Property Losses

Renter’s policies protect against losses to personal belongings such as clothing, jewelry, electronics and furniture. Even if one has few belongings, a loss can quickly get expensive; the average renter’s belongings are worth about $20,000. A renter’s policy protects against a long list of risks, such as:

• Plane and vehicle crash

• Explosions

• Falling objects

• Lightning

• Fire

• Civil unrest

• Theft

• Vandalism

• Storm damage

• Plumbing failures

Losses arising from earthquakes and floods aren’t covered by standard Renter Home Insurance Boston; separate coverage is required. Renter’s insurance does not cover losses caused by negligent or intentional acts.

Some Landlords Require It

A landlord’s policy covers the land and the structure, not the belongings within. Many landlords require tenants to buy their own insurance policies, and they want proof. If a renter needs help finding or buying coverage, a landlord can help in some situations.

It Offers Liability Coverage

A standard renter’s policy also provides liability coverage which protects the renter if someone is injured in the home. It pays legal fees and court costs up to the coverage limit. Most policies offer up to $100,000 in liability coverage, and up to $5000 for medical expenses. Renters with high coverage needs should consider an umbrella policy, which can provide $1 million in coverage.

Renter’s insurance from Sawyer Insurance Agency Inc. protects the occupant’s personal belongings, whether they are in the home or with the policyholder. Moreover, these policies protect renters from liability if a guest is injured in the home. Consult an insurance agent or browse the website for help in choosing the right policy.

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