Massachusetts residents know that the people here at Vargas and Vargas Insurance Agency are the foremost authority on Massachusetts insurance policies. That’s why we get so many calls and emails to ask about insurance questions. We are always happy to speak with you about your insurance questions, but we want to also answer some of our most frequently asked questions here on our blog.
Today, our topic will be renter’s insurance. If someone else owns the home or apartment in which you live, a Massachusetts renters insurance policy is probably right for you. Here are a few answers to common renters insurance questions:
My landlord has insurance on the property – is that enough?
In short? No. Your landlord’s insurance will only cover the structure of the house or apartment. If you want coverage for your belongings and liability protection, you need to purchase your own insurance. Speak to your insurance agent about the value of your belongings for an idea of how much coverage you need.
What does a Massachusetts renters insurance policy cover?
Depending on your unique policy, a renters insurance policy will cover your belongings in losses due to theft and vandalism, fire and smoke, lightning, windstorms, hail, and more. In addition to covering your possessions, your renters insurance will also typically include liability coverage, meaning that you will be protected in case of unintentional bodily injury and/or property damage. This coverage may also provide you with legal defense costs in these cases.
Can my roommate and I share a renters insurance policy?
Personal insurance policies are often only written for individuals or families. This means that your insurance policy will not cover someone that isn’t related to you. If your roommate wants to protect their belongings and get liability protection, have them call Vargas and Vargas Insurance Agency for their own renters insurance policy!
What is the average cost of a renters insurance policy?
According to the National Association of Insurance Commissioners, the average renters insurance policy costs between $15 and $30 a month. While this obviously depends on the type and size of your home or apartment, as well as the value of your possessions, it is a very small cost compared to what you would pay if you were the victim of a catastrophic loss. As with most cases, the protection afforded by an insurance policy is well worth the money spent.
How can I save money on my renters insurance policy?
Your Massachusetts insurance agent should make sure that you receive all insurance discounts for which you qualify. This may include discounts for bundling your insurance policies with the same carrier, as well as discounts for having certain safety features in your rental property, including burglar alarms, sprinkler systems, and more.
How do I get a renters insurance quote?
Getting a Massachusetts renters insurance quote is simple! All you need to do is call Vargas and Vargas Insurance Agency at 617-298-0655. Our agents will be happy to get you a free, no-obligation insurance quote for a policy with the coverage that you need. You can also drop by one of our offices, located on Washington Street in Dorchester, or on Cabot Place in Stoughton.
