6 Interesting Facts You Need To Know About Renters Insurance

by | Jul 23, 2021 | Beyond Insuring. Ensuring, Condo Insurance, Personal Insurance, Personal Risk, Renters Insurance

If you have recently acquired an apartment or currently have an apartment but are curious about renters insurance, you are in the right place! Today we will be going over a few facts about why it is essential to have renters insurance coverage in Massachusetts.

What exactly is renters insurance anyway?

Renters insurance provides coverage for your personal property against damage and loss. It also insures you incase someone is injured while on your property.

  1. You do not have coverage for your personal items through your landlord’s policy. If your items are damaged, destroyed, or stolen it is your responsibility to replace them.
  2. If there is a major loss and your living space is inhabitable your policy may cover living in another space while the damage is being repaired.
  3. Many policies have medical payments coverage for when a non household member injures themselves on premises.
  4. You can purchase replacement cost coverage on your contents. If there is a loss and you have to buy all new items, you will be compensated for the items after you purchase them and submit your receipts.
  5. You can also have a personal umbrella along with a renters policy, as long as you meet the underlying limits on your auto and renter’s policy. Read more about the advantage of a personal umbrella policy here. 
  6. It’s not only for apartments! If you are renting a Condo or within a single family home you can also acquire renters insurance.

Bonus Renter’s Insurance Fact

Many carriers who offer renters insurance also offer auto insurance and bundling you insurance policies can save you money! Don’t hesitate to contact me today for a quote. Remember, it’s more than insuring it’s ensuring! Make sure you are properly covered today. As a 5 Star Agency we take the time to review your account to make sure the coverage meets your needs!

 

Make sure to subscribe to our social media pages so you never miss out on insightful blogs like this!

SHARE THIS POST

Related Posts

Navigating 2024: 5 Key Insights Shaping P&C Insurance

Navigating 2024: 5 Key Insights Shaping P&C Insurance

The final quarter of 2023 was nothing short of a rollercoaster for the insurance landscape, particularly in the realm of Property and Casualty (P&C). In this no-nonsense exploration, we’ll delve into the pivotal trends shaping the industry without any unnecessary fluff.

read more