Are you renting an apartment or house? You might think your landlord’s insurance protects your belongings, but that’s not true! Your landlord’s policy only covers the building itself. This means all your personal items – from your laptop to your favorite chair – aren’t protected unless you have renters insurance.
WHY YOU NEED RENTERS INSURANCE
Think about everything you own for a minute. Your clothes, furniture, electronics, and other belongings probably cost more than you realize. According to the Insurance Information Institute (https://www.iii.org/article/facts-about-renters-insurance), the average renter owns about $30,000 worth of personal property. That’s a lot to lose if something bad happens!
WHAT RENTERS INSURANCE COVERS
Your renters insurance works like a safety net. Here’s what it protects:
YOUR STUFF
If there’s a fire, theft, or water damage from broken pipes, your insurance helps replace your damaged items. This includes things like:
- Your favorite comfy couch
- The TV you saved up to buy
- All your clothes and shoes
- Your computer and phone
- Kitchen items and appliances
ACCIDENTS INVOLVING OTHERS
According to the National Safety Council (https://www.nsc.org/community-safety/safety-topics/home-and-recreational-safety), accidents can happen anywhere, even in your home. If someone gets hurt in your apartment, renters insurance helps pay their medical bills. It also helps if you accidentally damage someone else’s property.
TEMPORARY HOUSING
What happens if you can’t live in your apartment because of a fire or other covered problem? Renters insurance pays for your hotel stays and extra expenses until you can move back home.
SURPRISING THINGS THAT ARE COVERED
Did you know renters insurance can help in unexpected ways? It covers your stuff even when it’s not in your home! If someone steals your laptop from your car or your bike from outside a store, you’re protected.
WHAT’S NOT COVERED
It’s important to know what renters insurance doesn’t cover:
- Flood damage (you need separate flood insurance)
- Earthquake damage (you can add this coverage)
- Your roommate’s belongings (they need their own policy)
- Really expensive jewelry or collectibles (unless you get extra coverage)
HOW TO GET THE RIGHT COVERAGE
Getting the right amount of coverage is easier than you might think:
- Make a list of your stuff and take pictures
- Add up how much it would cost to replace everything (or you can just estimate what you have)
- Think about any special items you might need extra coverage for
- Ask about discounts – you might save money if you have car insurance too!
HOW MUCH IT COSTS
Here’s the really good news: in Massachusetts, renters insurance costs about $125 per year for $10,000 of coverage. That’s only about $10 per month! Even better – if you bundle your renters insurance with your auto policy, the cost becomes practically free. Think about it: for less than the cost of a pizza each month (or virtually nothing with bundling), you can protect thousands of dollars worth of your belongings.
PROTECT YOURSELF TODAY
Don’t wait for something bad to happen before getting renters insurance. It’s better to be protected now than sorry later. Our team at Vargas & Vargas Insurance understands that every renter’s situation is different. We’ll help you find the perfect coverage for your needs and budget.
Ready to protect your belongings? Call Vargas & Vargas Insurance at 617-298-0655 today. Our friendly team will answer all your questions and help you get the coverage you need. Don’t risk losing everything – get protected now!
