Best and Cheapest Renters Insurance in Massachusetts for 2024

How can you find the best and cheapest renters insurance rates in Massachusetts?

Many renters wonder: Do I need renters insurance?

A common misconception that your landlord’s insurance will cover your belongings in the event of a theft or fire in their Massachusetts apartment, but it’s not true. Your landlord’s insurance covers the building you’re renting while renters insurance covers your personal belongings and provides liability protection. Each policy offers different but important coverages.

If you want to ensure you’re properly covered while renting, it’s important to find one of the best (and cheapest) Massachusetts renters insurance companies. Where do you start? In the rankings page above, you can sort through all of the best and cheapest renters insurance companies ranked on Clearsurance. The rating next to each company, the insurer’s Clearsurance score, is based exclusively on the thousands of ratings provided by customers. Note: Only those companies with at least 25 renters insurance reviews are eligible to appear in the best and cheapest Massachusetts renters insurance rankings.

Are you interested in learning more about one of the companies listed among the best and cheapest renters insurance companies in Massachusetts? You can visit the company’s profile page to find more information about the company and read reviews to learn about experiences from customers who’ve had a policy with the company.

On this page:

• Best and cheapest Massachusetts renters insurance rates
• Average cost of renting in Boston
• Best and cheapest renters insurance for Massachusetts college students
• Massachusetts property crime statistics

What are your coverage options on a renters insurance policy?

Just like any other policy, you can usually customize your renters insurance coverage to get exactly what you need. A standard policy contains some form of the following types of coverage:

• Personal property coverage – This type of coverage pays the replacement cost for the personal items you keep in your apartment should they be damaged or destroyed. The policy will usually have a list of covered perils, so make sure to look this over closely.

• Liability coverage – Liability insurance pays for medical expenses if someone is injured in your apartment.

• Loss of use coverage – Loss of use pays for your hotel and food expenditures when you are unable to stay in your apartment because of damages. This may also be called additional living expense coverage or temporary living expenses coverage.

Beyond these basic coverage options, you may also be able to purchase extra protection like identity theft coverage, guest medical coverage, and other optional coverages.

People who keep expensive items in their rental unit, like musical instruments, jewelry, or sports gear, may wish to increase their coverage limits for additional protection.

Who offers the best and cheapest Massachusetts renters insurance rates?

Arbella offers the cheapest Massachusetts renters insurance rates among the most popular insurance companies in Massachusetts.

While the cost of renters insurance can vary based on factors specific to you, such as your age, marital status, and credit score, they can also vary based on which renters insurance company you choose. Some companies may offer more affordable renters insurance in Massachusetts than others. In the table below, you can see average Massachusetts renters insurance rates from some of the largest companies in the state.

These average renters insurance rates are based on a policy with $30,000 in personal property coverage (with a $500 deductible), $100,000 in personal liability and $1,000 in medical payments to others. The rates displayed should only be used for comparative purposes as individual rates in Massachusetts will differ. Rate data is provided by Quadrant Information Services.

How much does rent cost in Boston?

In Boston, Massachusetts, the average cost of rent is pretty expensive at $3,429 per month. Please consider that there are many factors that can affect the cost of rent. This includes where within Boston your apartment is located and the size of your apartment.

Boston, the capital of Massachusetts and the state’s largest city, can be costly to live in. Living in the historic city can be a convenient and attractive location for working or going to college, but it comes at a steep price. On average, rent in Beantown costs $3,429 per month. However, rent in Beantown costs $3,429 per month. However, monthly rent costs in Boston can vary based on the neighborhood you live in. For example, rent may be much cheaper in Roslindale but could be more expensive in Boston’s North End.

The type and size of the apartment also affects the price of rent per month. Smaller Boston studio apartments are typically more affordable than one bedroom and two bedroom apartments. Despite the high cost of rent for an apartment in Boston, you should not avoid purchasing renters insurance just to save a few bucks.

See the best renters insurance companies and rates in Boston.

What is the best and cheapest renters insurance for Massachusetts college students?

Boston is known for its colleges and universities. With more than 100 colleges and universities scattered across the state, Massachusetts has hundreds of thousands of college students that live in dorms or rent apartments. Students renting housing in Massachusetts should consider some key factors to ensure their personal belongings are protected.

Typically, college students who live in dorms located on the college campus are covered by their parents' homeowners insurance policy. However, that usually only applies to students living on campus. Massachusetts college students who rent apartments off-campus should consider a renters insurance policy because their items won’t be covered under their parents’ policy. Without a renters insurance policy, they won’t have any protection.

College students will most likely have roommates in the apartment they rent. It’s not advised that students share renters insurance policies with roommates. Rather, each roommate should have their own renters insurance policy to protect their own belongings.

What are Massachusetts' property crime statistics?

Theft and vandalism or malicious mischief are among the 16 perils a standard homeowners insurance policy protects you from. So, how does crime in Massachusetts compare to other states around the country? The FBI published the following statistics on crime in Massachusetts for 2016:

• Property crime - 106,339
• Burglary - 19,193
• Larceny theft - 79,088

All three statistics for Massachusetts, when compared to the national average rate per 100,000 inhabitants, rank well below the national average.

How can you save money on your renters insurance in Massachusetts?

While renters insurance may be more affordable than other types of insurance, no one wants to pay more than they have to. So what are the different ways that you can lower your Massachusetts renters insurance premium and have some extra spending money?

Here are the top 5 ways to save on your renters insurance:

• Raise your deductible
• Ask about potential discounts
• Bundle your policies
• Determine the value of your personal property
• Pay in full by check

If you bundle your auto policy with a homeowners or renters insurance policy with the same insurance company, you will usually receive a multi-policy discount (this might also be available for bundling with other insurance products, such as a life insurance policy or boat insurance policy). Some insurance carriers also reduce your monthly premium for safety devices in your apartment, such as smoke detectors, security devices like burglar alarms, or for setting up automatic payments.

A wide range of discount options may be available, so make sure to ask renters insurance providers about your options when you're shopping around for quotes. If you're looking for the most affordable rate, get online quotes on a renters policy from at least three companies before making a decision.

How does Clearsurance rate and rank the best renters insurance companies in Massachusetts?

Consistent with its mission towards greater transparency, Clearsurance does not keep its rating and ranking formulas in a black box. Our algorithm analyzes a range of inputs from our independent community of insurance customers, including:

• Price
• Customer Service
• Claim service
• Likelihood to renew

The algorithm also takes into account the percentage of what customers say the company does well (strengths) compared to the percentage of what customers say the company could do better (opportunities).

The Clearsurance customer ratings and rankings are derived entirely from customer reviews and ratings.

What is a renters insurance guide?

As we mentioned above, there’s common misconceptions regarding what is and isn’t covered by a renters insurance policy. Before you purchase a policy from one of these best renters insurance companies in Massachusetts, it’s important to understand what your policy covers. For example, did you know that many renters insurance policies include liability protection in the event a non-resident is injured on the property. Plus, if your apartment becomes uninhabitable from an incident, some policies may cover your expenses as you find temporary housing in Massachusetts.

We want to make sure you’re equipped with a proper knowledge of renters insurance, so check out our renters insurance guide. Looking for more educational information about renters insurance? Check out our renters insurance blog for more information and topics related to renters insurance.