4 Best Renters Insurance Providers in Massachusetts

As a resident of the Bay State, you’re likely to be renting your home. About 37.6% of Massachusetts residents rent an apartment or house, which is higher than the overall national average. If you’re one of the state’s many renters, you may want to consider protecting your personal property with low-cost renters insurance.

Renters insurance is a type of protection that helps you pay for the cost of replacing your personal property if you’re the victim of a covered peril (like a fire, burglary or electrical storm). The top renters insurance policies also provide liability coverage, which helps cover legal fees and medical expenses if you’re sued by a visitor injured on your property. Read on to learn more about the benefits of investing in a renters insurance policy, what your policy will cover and a few of the best providers in the state.

After in-depth research, we at the Guides Home Team found the following are Massachusetts’ best renters insurance providers:

• Lemonade: Our pick for college students
• Geico: Our pick for easy policy management
• Allstate: Our pick for seniors
• Amica: Our pick for high coverage limits

Lemonade Renters Insurance

Lemonade is our top choice for college students looking for affordable coverage for their property — a major benefit if you’re saving to one day own your own home. Policies are available from just $12 a month, which will fit within most renters’ budgets. Lemonade’s tech-forward claims and application process makes it easy to get covered in as little as a few minutes and file a claim in 60 seconds. While Lemonade offers a limited claims history and add-on options, it can be a great choice for budget insurance.

While Lemonade offers affordable renters insurance and an easy application process, it may not be the right choice for renters looking for highly customizable policies.

Costs and Coverage Options

Lemonade renters insurance starts at $12 a month in most areas. When we requested a quote for a resident of Boston, we received an estimated monthly rate of $32 per month. Note that coverage is not yet available in all states, so you’ll need to request a quote to learn more about policy choices in your zip code.

Discounts: Pay-in-Full, Protection Equipment, Multipolicy and enrollment before your current policy ends

Endorsements: Water Backup, Earthquake Coverage and Equipment Breakdown (household appliances); riders for expensive items up to $1,500 in value

To learn more: Lemonade renters insurance review

Geico Renters Insurance

• AM Best rating: A++
• J.D. Power score: N/A

While Geico does not underwrite its own insurance policies for renters, it does act as a comprehensive renters insurance broker. If you’re already a Geico customer, you can bundle together your current auto insurance or other insurance coverage together with your renters coverage. However, you cannot choose which company issues your third-party coordinated policy, which may mean fewer discounts to take advantage of.

Geico can help you find an affordable policy choice, but coverage will vary by location.

Costs and Coverage Options

Geico does not offer online estimates for rental insurance pricing, as third party policy availability varies significantly by location. Be sure to get a quote to learn more about what you’ll pay for coverage when you choose Geico.

Discounts: Multi-policy discount and fire and burglary alarm discounts; additional discounts may vary by location and third-party match

Endorsements: Variable

To learn more: Geico insurance review

Allstate Renters Insurance

Allstate is a nationwide insurance provider backed by solid credit ratings. With savings of up to 25% for retirees over 55, Allstate is a good option for seniors seeking renters coverage. Allstate offers three tiers of coverage, with property damage coverage available up to $40,000 and personal liability coverage available up to $250,000. This general, flexible coverage will make a great quick option for most renters looking for comprehensive coverage.

Costs and Coverage Options

Allstate’s renters insurance policies are available from $4 a month. When we requested a quote for a renter in Boston, we received quotes ranging between $18 for basic coverage and $20 to $26 for extended coverage. Discounts were automatically applied when we requested a quote.

Discounts: Multi-policy, 55 and retired and Easy Pay Plan

Endorsements: Identity-theft protection, replacement value coverage, riders for individual, valuable items

To learn more: Allstate insurance review

Amica Renters Insurance

Amica offers exceptionally high coverage limits for renters insurance. You can customize your personal property coverage up to $500,000 and personal liability coverage up to $2,000,000, some of the highest caps in the industry. You can also choose a deductible as low as $250. Plus, depending on your additional coverage selections, you’ll only be paying a few extra dollars per month for the extended coverage.

Amica offers great options for renters looking to maximize their coverage limits and customize their plan without dramatically increasing their monthly premium:

Costs and Coverage Options

According to our sample quote for an apartment in Boston, a standard plan costs $26 per month with extended coverage costs $28 per month. Extended coverage doubles the dollar amount of your coverage limit, but also increases your deductible. You can also adjust your price by customizing your deductible and coverage limits.

Discounts: Policy bundling, paperless billing, autopay

Endorsements: Water backup and sump pump, identity fraud expense, special computer equipment

To learn more: Amica insurance review

The state of Massachusetts does not currently have any laws in place that require renters to have insurance as a term of renting either a home or apartment. It is also against Massashusetts law for a landlord to require tenants to purchase renters insurance through a specific provider chosen by the company.

However, there is no law that prevents a landlord from requiring that tenants carry their own independent renters insurance coverage as a term of their lease. Regardless of the legality and whether your lease requires that you have insurance, purchasing renters insurance might be a good idea.

Your landlord’s insurance does not provide any type of coverage for your personal belongings, which means you’ll be 100% liable for replacing your things in the event of an emergency, fire or other disaster. Renters insurance covers medical payments for anyone hurt on your property, too, as well as additional living expenses if you need to temporarily live somewhere else after you’ve experienced a covered loss.

There are exclusions, so you’ll want to find out what your renters policy covers.

There are several factors that can affect renters insurance rates in Massachusetts, and the rate that you’ll pay will vary depending on where you live and other factors. Some of the most significant factors that might influence your rate include the following.

• Location: The location of your rental property will play a direct role in the price you pay for coverage. If you live on the water or in another area prone to natural disasters, you’ll pay more for coverage, as the likelihood that you’ll need to file a claim is higher. You’ll also pay more if you live in an area with higher property crime rates, as you’re more likely to be the victim of theft and need to file a claim.
• Your total property value: Renters insurance policies include upper total limits on the annual reimbursement you qualify for on your policy. If you own more expensive electronics or other property that you need to insure, you’ll pay more each month to retain protection from a total loss.
• Any pets you own: Dog bites are a common renters and homeowners insurance liability claim. If you own a dog, you’ll likely pay higher renter insurance rates depending on your furry friend’s breed. In some cases, if you own a breed that is statistically more likely to be involved in an insurance claim, you may even be denied coverage for bite-related claims.

Understanding the most common causes of renters insurance claims in Massachusetts can better help you shop for comprehensive coverage. The following are some of the most common causes of renters insurance claims in Massachusetts.

Wind and Hail

While wind and hail damage to the building you live in will fall under your landlord’s tenant insurance, any damage to property inside of the building (for example, through a broken window) is covered under renters insurance.

Theft and Robbery

Massachusetts has some of the lowest rates of property crime in the U.S., which should translate into savings in most areas. However, if you live in an area known for violent or property crime, you’ll pay higher rates, as you’re more likely to need to file a claim with your renters insurance company.

Water and Freezing Temperatures Damage

Massachusetts is known for harsh winters, and water damage and damage from freezing are other common claims for renters living in the Bay State. Note that if you live in a first-floor unit and want to add coverage for flooding, you’ll need to invest in an added rider.

Renters insurance is an affordable protection that will easily fit into most renters’ budgets. The amount of coverage you select and other factors will ultimately determine your insurance premium. However, the best policy for you depends on your individual needs.

For example, if you’re looking for an affordable policy with a tech-forward claims process, Lemonade might be the best choice for you. On the other hand, if you’re retired and want more coverage options, Allstate may be a great option. Get a quote from at least three highly rated providers to be sure you’re getting the coverage you need at an affordable rate.

Through in-depth research of the industry, we determined the following factors and weights to rate each company by:

• Overall cost: 15%
• Add-ons and discount options: 20%
• Standard coverage: 17.5%
• State availability: 5%
• Support availability: 20%
• Connectivity: 12.5%
• Authority: 10%

We used these rating factors to determine the best renters insurance companies to help with your decision when looking at policies. We routinely monitor and update data on a regular basis to ensure the reviews reflect the most up-to-date information and advice.

Sarah Horvath is one of the home service industry’s most accomplished writers. Her specialties include writing about home warranties, insurance, home improvement and household finances. You can find her writing published through distributors like HouseMethod, Architectural Digest, Good Housekeeping and more. When not writing, she enjoys spending time in her home in Orlando with her fiance and parrot.

Sabrina Lopez is an editor with over six years of experience writing and editing digital content with a particular focus on home services, home products and personal finance. When she is not working on articles to help consumers make informed decisions, Sabrina enjoys creative writing and spending time with her family and their two parrots.