Boston Property Management: Renter’s Insurance

Boston Property Management

Boston Property Management: Renter’s Insurance

Not everyone in America has renter’s insurance. Around 6 to 10 Americans don’t have any form of this coverage.


Renter’s insurance is not complicated at all as it is a very well written and straightforward policy. There are no hidden extras so that it is easier for a person to understand it.  One of the reasons why insurers don’t sell them for a high price is because even if they can get a high monthly payment, any disparity between the value and coverage can lead to fraud or arson. This is why they stick close to the value of the products instead of inflating it.  They will only give you the amount you need but it doesn’t mean they will push it.

The good thing is that the insurers never check your belongings before they issue a policy. This way you can slightly inflate the worth of your valuables and buy more coverage than you need.  Just make sure that you come up with an inventory of products so that you don’t end up paying too much. Take pictures of all the items you have and show it to your agent, who can estimate a value for you. Store those pictures in a safe place so that you can use it as evidence in the event that you need to file a claim in the future.


You need to have a minimum amount of valuables before an insurance company will give you renter’s insurance. There needs to be around $15,000 worth of items before they can consider it. Do remember that it includes all your possessions, including your furniture, clothes and electronics. Just make sure that you save all the receipts in a fireproof box at a safe location. Other valuables may require additional coverage and have to be appraised separately. No insurance company will lump your expensive jewelry and belongings at one place.

Boston Property Management: Is it worth it?

One does get reimbursed in the event that there is a fire, theft or flood. However you still need to make sure that you have the right insurance for it. For example if someone gets injured on your property, you have to pay for it on your own and not through your landlord’s insurance. You can get liability insurance along with your rental insurance plan for a good cost.


There are two types of insurance: replacement and actual value.

Replacement insurance will cost you a lot more and covers the full amount needed to replace the item.

Actual value insurance costs less and insures the item for only its depreciated value. So this means that if the value of the item has gone down, you will only get the current value of that product.

We hope you liked our guide “Boston Property Management: Renter’s Insurance”.

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