Discover the best renters insurance options in Massachusetts.
Find coverage that safeguards your belongings and provides liability protection, ensuring peace of mind in case of unexpected events.
About 37.6% of Massachusetts residents rent homes, exceeding the national average.
It’s crucial to protect your belongings with affordable renters insurance.
This insurance helps replace items damaged by perils like fires or burglaries.
Premium plans also cover liability, handling legal and medical costs if visitors sustain injuries on your rented property.
Explore the benefits, coverage, and top providers of renters insurance in the state.
An infographic detailing best renters insurance in MassachusettsTop 4 Best Renters Insurance Providers In Massachusetts
- Lemonade: Our top choice
- Liberty Mutual: Recommended for discounts
- Geico: Ideal for easy policy management
- Allstate: Recommended for older people by the Guides Home Team after thorough research.
Also Read: What Makes An Insurance Policy A Unilateral Contract; Understanding the One-Sided Promise.
Lemonade Renters Insurance
Rating: 4.6 by A.M. Best
J.D. Power: 854/1000
Monthly Cost: $13.33
Pros:
- Swift enrollment process and claims payouts
- Affordable coverage
- Reputation for responsive customer service representatives
Cons:
- Available in only 28 states as of March 2023
- Limited discount and add-on availability
Also Read: Optimum HealthCare Insurance Reviews: Why You Should Consider This 5-Star Plan
Why Choose Lemonade?
Lemonade stands out as our top choice, particularly fo r college students seeking economical property coverage, which is advantageous for those aiming to own a home in the future.
With policies starting at just $12 monthly, it’s budget-friendly for most renters.
Lemonade’s tech-driven claims and application process facilitate quick coverage acquisition in minutes and claims filing in 60 seconds.
While Lemonade provides limited claims history and add-on options, it’s an excellent option for budget insurance.
Although Lemonade offers affordable renters insurance and a simple application process, it may not suit renters seeking highly customizable policies.
Discounts and Endorsements:
Costs and Coverage Options:
Lemonade renters insurance begins at $12 monthly in most regions.
For a Boston resident, the estimated monthly rate is $32.
Coverage availability varies by state, necessitating a quote for policy details in your area.
Discounts:
Pay-in-Full, Protection Equipment, Multipolicy, and early enrollment before policy expiration
Endorsements:
Water Backup, Earthquake Coverage, and Equipment Breakdown (for household appliances); riders for high-value items up to $1,500.
Liberty Mutual Renters Insurance
Rating: 4.2 by A.M. Best
J.D. Power: 848/1000
Pros and Cons
Pros:
- Offers various discounts to reduce overall costs
- User-friendly mobile app
- Provides personal property replacement cost coverage
Cons:
- Limited availability of endorsements
- Requires SSN for quote
Why Choose Liberty Mutual:
In addition to its array of discounts, Liberty Mutual received high marks in J.D. Power’s customer satisfaction study, indicating commendable service to policyholders.
The insurer may reduce your premium for remaining claims-free, purchasing a policy before expiration, or bundling multiple policies.
It offers personal property replacement cost coverage, reimbursing the full cost of damaged items based on their brand-new value.
Discounts and Endorsements:
Liberty Mutual offers several discounts for Massachusetts renters, including:
- Early shopper
- Multi-policy
- Preferred payment
- Claims-free
- Online purchase
While the insurer provides limited endorsement options, you can add optional coverages such as:
- Blanket jewelry
- Earthquake damage
- Personal property replacement cost
Pros and Cons
Pros:
- Acts as a renters insurance broker, finding low-cost coverage options
- Provides online calculator to determine coverage amounts
- Discounts available for current GEICO customers
Cons:
- Discount availability varies by location and third-party provider
- Inability to select a specific third-party provider.
Why Choose GEICO:
While GEICO doesn’t underwrite its own renters insurance policies, it serves as a comprehensive renters insurance broker.
Existing GEICO customers can bundle their renters coverage with other policies.
However, lack of choice in third-party providers may limit available discounts.
GEICO assists in finding affordable policy options, though coverage may differ by location.
Discounts and Endorsements:
GEICO does not offer online estimates due to varying third-party policy availability.
Request a quote for pricing details.
Discounts: Multi-policy, fire and burglary alarm; additional discounts vary by location and third-party match.
Endorsements: Variable
Allstate Renters Insurance
Rating: 4.3 by A.M. Best
J.D. Power: 835/1000
Pros and Cons
Pros:
- Multiple coverage levels
- Fast application process with intuitive Q&A system
- Variety of discount options
Cons:
- Higher-level coverage may be pricier than competitors’ premium policies in MA.
- Limited add-on options
Why Choose Allstate:
Allstate, a nationwide insurer with strong credit ratings, offers up to 25% savings for retirees over 55.
With three coverage tiers, including property damage coverage up to $40,000 and personal liability coverage up to $250,000, it’s a solid choice for comprehensive renters coverage.
Discounts and Endorsements: Allstate renters insurance starts at $4 per month.
Quotes for a renter in Boston ranged from $18 to $26 for extended coverage.
Discounts were automatically applied.
Discounts: Multi-policy, 55 and retired, Easy Pay Plan
Endorsements: Identity-theft protection, replacement value coverage, individual item riders.
Renters Insurance Costs in Massachusetts
According to our analysis of leading renters insurance providers in Massachusetts, standard policy premiums typically range from $10.58 to $16.85.
The monthly state average stands at $24.67, considerably higher than the national average of $15 per year.
Refer to the table below for detailed pricing information from the top renters insurance companies in the state.
Top 5 Best Renters Insurance Providers in Massachusetts
Below is a table listing the five cheapest renters insurance providers in Massachusetts, sorted in ascending order by the monthly cost:
| Provider | Monthly Cost |
|---|---|
| Allstate | $15.00 |
| Amica | $15.33 |
| Farmers | $20.33 |
| Lemonade | $13.33 |
| State Farm | $10.58 |
While price shouldn’t be the sole determinant in choosing a renters insurance provider, we recognize that saving money is a priority for many renters.
Is Renters Insurance Necessary in Massachusetts?
Currently, Massachusetts doesn’t mandate renters insurance for tenants renting homes or apartments.
Additionally, landlords are prohibited by law from stipulating renters insurance from a specific provider.
However, landlords may require tenants to obtain their own independent renters insurance coverage as a condition of the lease.
Despite legal requirements, purchasing renters insurance is often advisable.
Landlord insurance doesn’t cover personal belongings, leaving tenants fully responsible for replacing their possessions in emergencies or disasters.
Renters insurance also covers medical payments for injuries on the property and additional living expenses in case of displacement due to a covered loss.
While renters insurance offers comprehensive coverage, exclusions may apply, so it’s crucial to understand your policy’s terms and coverage details.
Factors Influencing Best Renters Insurance Rates in Massachusetts
Several factors impact renters insurance rates in Massachusetts, varying based on location and individual circumstances.
Key factors influencing rates include:
Location:
Property location directly affects coverage costs.
Properties in areas prone to natural disasters or higher crime rates typically incur higher premiums due to increased claim risks.
Total property value:
Renters insurance policies have coverage limits based on property value.
Higher-valued belongings necessitate higher monthly premiums to ensure adequate protection against total loss.
Pet ownership:
Dog ownership influences rates due to liability claims from dog bites.
Breeds statistically prone to claims may lead to increased premiums or coverage denials for bite-related incidents.
Common Renters Insurance Claims in Massachusetts
Understanding prevalent renters insurance claims in Massachusetts aids in selecting comprehensive coverage.
Common claim causes include:
Wind and hail:
Damage to personal property from wind or hail is covered by renters insurance, except for building structural damage covered by landlord insurance.
Theft and robbery:
Areas with higher crime rates may lead to increased premiums due to higher theft risk, necessitating comprehensive coverage.
Water and freezing temperatures damage:
Harsh winters in Massachusetts increase claims for water and freezing damage, requiring additional coverage for first-floor units against flooding.
Ronald Mandela
CURRENTLY
Content Writer, Insurance Insights
RESIDES IN
Minneapolis, Minnesota
EXPERIENCE
Over 6 years in the insurance industry
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Ronald Mandela, a seasoned Content Writer at Insurance Blob, brings over six years of dedicated experience in the insurance industry.
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Renowned for his ability to transform intricate insurance concepts into engaging and accessible content for a broad audience.
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Ronald contributes valuable insights into the world of insurance through his in-depth articles and guides, catering to both novice and seasoned readers.
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