Apartment Rental Mistakes to Avoid: Foregoing Renters Insurance

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In our last two posts, we discussed some of the most common renter mistakes to avoid, including not understanding your lease or reading it thoroughly before legally binding yourself to the housing contract. This time, we’re going to explain the importance of Boston Renters Insurance and how you can acquire the policy that’s best suited for you.

What does renters insurance cover?

Your dwelling is your safe space, and everything in it should be protected. Granted the building itself is protected by the landlord or the leasing agency, your personal belongings are not included in that policy. Your TV, laptop, bed, furniture, etc. are not inherently protected, and if you’re faced with one of the common perils, how would you recover?

• Water damage
• Windstorm
• Hail
• Vandalism
• Electrical surge
• Fire
• Lightning

Speak with your trusted agent today to go over the estimated worth of your belongings to ensure you have enough coverage.

What is the cost of renters insurance?

Each policy is crafted to meet your needs, but overall the total cost can run anywhere from $10-50 a month, depending on your belongings.

The non-covered perils.

It’s important to note that some common natural disasters are not covered under a traditional renters insurance policy. These include floods, tornadoes and earthquakes. Be realistic about your risks depending on your exact location and plan accordingly. Remember, it’s better to be safe than sorry.

Keep it updated.

A lot can change over the course of the year. Keep your list of insured items updated and fresh by going over your personal inventory every 6-12 months. If you've purchased a new $3,000 refrigerator but the insurance company doesn't know about it, that item won’t be replaced after a fire or theft, explains PT Money.
 
 
 
 
About Metro Boston

As you set out to get the best renter’s insurance coverage, give yourself the gift of peace of mind. Contact us at Metro Boston Insurance Agency, 617.884.5480, and get the best coverage at a price you can afford.