Category: Renters Insurance

Renters insurance is an invaluable asset for anyone renting a property. At Smoller Insurance Agency in Boston, MA, we recognize the importance of knowing exactly what this insurance covers, ensuring your peace of mind.

Safeguarding Your Personal Belongings

Renters insurance serves primarily as a protector for your personal belongings. Imagine if your laptop, furniture, or jewelry is damaged or stolen. Renters insurance covers such items against risks like theft, fire, or vandalism. This ensures that if an unexpected event occurs, your policy can help replace these possessions.

Liability Coverage: A Financial Security

Accidents can occur unexpectedly. You may be held accountable if a guest gets injured at your rental property. Renters insurance includes liability coverage that can cater to legal costs and medical expenses if you’re found at fault. This aspect of the policy serves as a financial safety measure, preventing potential financial burdens.

Provision for Additional Living Expenses

If a covered incident turns your rented place uninhabitable, renters insurance can cover additional living expenses. This means the policy might afford temporary accommodations, such as a hotel room or a short-term rental, while your house is under repair. Having such coverage ensures you’re never left without shelter.

Understanding What’s Not Covered

It’s essential to know your policy’s limitations. Renters insurance typically does not cater to damages resulting from natural disasters, such as floods or earthquakes. If your residence is in a high-risk area for these events, you might require additional coverage for comprehensive protection.

For personal consultations and to explore your options, get in touch with Smoller Insurance Agency in Boston, MA. We’re here to assist you in selecting the right renters insurance policy tailored to your unique needs.

Renters insurance provides coverage for a tenant’s personal belongings. Renters insurance has the ability to provide peace of mind for renters, similar to what homeowners insurance provides homeowners. It can be costly to replace damaged, vandalized, and stolen items. Renters insurance provides coverage for a renter’s personal belongings should they become vandalized, damaged, or stolen, and more. Our team at Smoller Insurance Agency is committed to helping Boston, MA renters get the coverage they need.

How does renters insurance work?

Tenants pay a monthly fee for renters insurance. If a personal belonging is stolen, damaged, or vandalized and is covered by the renter’s insurance policy, the tenant files a claim to receive financial compensation to repair or replace the item. Liability coverage is also included in a renters’ insurance policy. If a guest becomes injured or has property damaged while visiting the tenant’s apartment/condo/rented space, the tenant can file a claim to cover medical care/payments or pay for the repair of the damaged property. Depending on the insurance policy, renters insurance can also replace lost income, cover bills, and cover groceries and other necessities. However, renters insurance isn’t designed to cover the physical rental space, just the tenant’s personal belongings. 

Will renters insurance cover the repair of the laptop I accidentally dropped?

No. Renters insurance will not pay for the repair or replacement of a laptop or personal belonging that was damaged by negligence. Unfortunately, the renter’s insurance policy outlines the types of damage and circumstances that are covered by the policy. Making a mistake or accidentally breaking personal belongings isn’t covered by renters’ insurance. If you have more questions regarding renters insurance, call us at Smoller Insurance Agency in Boston, MA. We’d be happy to answer all of your questions. 

Renters insurance is the coverage that helps to protect you from the risks that may come with potential damage or theft of your property as you rent a home. It is also known as tenant insurance.

While it is not mandatory to have this insurance according to the law, it is a requirement by most landlords in Boston, MA that you have renters insurance. Smoller Insurance Agency is here to assist. 

Benefits of Renters Insurance

This coverage serves to protect you against distress in the event of:

Sustained injuries.

When you have renters insurance, you need not worry about any extra finances that you may need to cover the cost of treatment in case of any injury that has been sustained by you or any other person who was on your property at the time of damage.

Damage to your or another person’s property.

In the unfortunate event that your property has been damaged, or your property has caused damage to another person’s property, the insurance cover will see to it that the person has been compensated. It will also be of assistance where you may need to repair your property or the landlord’s property.

Apart from the potential damage and injury that may occur during a burglary, you are also very likely to lose your property. Even if you were not in your house at the time of loss, the insurance could compensate you for the present-day cost of your property.

Additional expenses associated with moving to a temporary residence.

Some situations such as natural disasters or renovations may need you to move to a temporary residence. The insurance will cover the expense that you need to part with to stay at the temporary residence.

Contact Us Today

It is worth noting that you are not covered by your landlord’s property insurance. It is therefore important that you put in your priorities a cover for all the property that you have in your rental in Boston, MA. Smoller Agency Insurance is here to help with renters’ coverage. Give us a call today. 

Introduction to Renter’s Insurance

When you rent a home in Boston, MA, whether an apartment, condo, or house, you need to obtain insurance for it. You might think that your landlord’s insurance covers everything, but Smoller Insurance Agency wants you to understand that it doesn’t cover your personal items or your liability.

You need renter’s insurance to cover your personal items and liability for accidents that happen within your living area. Your landlord’s insurance only covers the structure and his liability for accidents that happen in public areas of the building.

For example, if someone fell in your living room and broke their leg, your renter’s insurance would cover it. However, if someone fell down the front steps of the apartment building you live in, your landlord’s insurance policy covers the liability.

Your renter’s policy covers everything inside your apartment, condo, or house. If a storm breaks a window, your landlord’s policy pays for the window. However, your renter’s policy pays for the damage to your couch that got wet when the rain came in through the broken window.

Renter’s insurance is one of the eight types of home insurance. The HO-1 to HO-8 policies each have a different use. Renter’s applies to any type of leased living space, while you would have a different type of HO policy if you owned the condo as opposed to a house. A renter’s policy covers any type of rental.

Contact Smoller Insurance Agency serving Boston, MA, to obtain renter’s insurance to protect your valuables. It would otherwise cost you thousands of dollars to replace your clothing, computer, smartphone, stereo, TV, and other personal property.