A renters insurance policy covers your belongings, liability and loss of use. Neither Massachusetts nor Boston law require you to carry renters insurance, but it is common for proof of policy to be a part of the lease agreement.
Boston renters pay more for renters insurance than do renters in other parts of the U.S. This makes finding the best combination of cost, customer satisfaction and coverage important. We've put this guide together to help you find the mix that's right for you.
In this article
How much does renters insurance cost in Boston?
Renters insurance in Boston costs an average of $255 a year. This is 16% higher than the national average renters insurance rate of $219 a year. Travelers has the cheapest average rate of $226 a year, followed by Amica at $233.
| Company | Annual rate | Monthly rate |
|---|---|---|
| Allstate | $305 | $25 |
| Travelers | $226 | $19 |
| Amica | $233 | $19 |
Renters insurance companies in Boston
Standard renters insurance policies tend to be similar from insurer to insurer. This narrows down choice factors to cost and customer satisfaction. We've compared renters insurance companies based on their J.D. Power overall satisfaction scores and NAIC complaint indexes in order to provide an overview of their customer confidence levels.
J.D. Power, a data analytics and consumer intelligence company, publishes an annual report that focuses on the overall satisfaction that policyholders have with their insurance providers.
The report is based primarily on policy offerings, cost and claim resolution. The higher the satisfaction ranking, the better. Allstate received the highest score of 837 of the renters insurance companies we surveyed.
The NAIC Complaint Index is based on the number of complaints an insurance company receives relative to its size. The complaint index average is 1%. The lower the index, the better. As of 2022, Amica has the lowest score of 0.1%
| Company | 2022 J.D. Power overall satisfaction (out of 1,000) | 2021 NAIC Complaint Index |
|---|---|---|
| Allstate | 837 | 0.5% |
| Amica | - | 0.1% |
| Travelers | 801 | - |
Get cheap renters insurance in Boston
What does renters insurance cover?
Renters insurance provides a lot of coverage, including:
- Repair or replacement of your belongings
- Your liability if someone is injured in your rental home
- Property damage you cause to others
- Additional costs if you need to relocate while your rental is repaired
Personal property
If your belongings are damaged or destroyed by a covered peril, the personal property section of your renters insurance will pay out for their repair or replacement. Commonly covered items include:
- Clothing
- Furniture
- Electronics
Expensive valuables such as art, furs or other collectibles may be covered to lower limits. Be clear about any separate limits in your policy.
The best way to make sure you have accurate coverage for your personal property is to put together a home inventory list. Take photos of your belongings, and compile an attached list complete with description, cost and any serial numbers. This will give you a good idea of the amount of personal property coverage you'll need.
Personal liability
Personal liability covers legal fees and settlement costs if you are responsible for someone getting injured in your rental unit and it goes to court. Most renters insurance policies start with a liability limit of $100,000, but it can usually be increased.
Medical payments
Medical payments coverage takes care of medical expenses if you're responsible for another person's injuries. Medical payments coverage usually has limits from $1,000 to $5,000.
Additional living expenses (ALE)
ALE takes care of extra costs that can arise if you relocate temporarily while damage to your rental unit is repaired. ALE covers:
- Rent
- Meals
- Extra transportation costs
- Storage
- Furniture rental
- Laundry
Renters insurance policies usually have a default ALE limit of $3,000. Keep in mind that ALE only covers extra costs, not full costs. For example, if your regular food bill is $600 a month and having to rely on restaurants during relocation increases that to $800, ALE would pay out on the extra $200.
Getting renters insurance in Boston
To find the best coverage at the best price, compare quotes from multiple renters insurance companies. Look over cost, default coverage limits and customer satisfaction scores to find your best choice.
When you've found a provider that fits your needs, go online to its website and fill out the application for a policy. It shouldn't take long. Before you buy a policy, make sure you're clear on the coverage, and definitely call an agent if you have any questions. You will also be able to choose the date you want your renters insurance coverage to start.
Methodology
We compiled renters insurance quotes from the following companies in Boston:
- Allstate
- Amica
- Travelers
Quotes were pulled using the following policy limits:
- $30,000 of personal property coverage
- Loss of use: 30%
- $500 deductible
- $100,000 of personal liability
- $1,000 of medical payments to guests
Sources:
QuoteWizard.com LLC has made every effort to ensure that the information on this site is correct, but we cannot guarantee that it is free of inaccuracies, errors, or omissions. All content and services provided on or through this site are provided "as is" and "as available" for use. QuoteWizard.com LLC makes no representations or warranties of any kind, express or implied, as to the operation of this site or to the information, content, materials, or products included on this site. You expressly agree that your use of this site is at your sole risk.