Massachusetts consistently ranks as one of the most expensive states to live in, which is why many residents opt to rent their home instead of buying. But with severe winter weather, ice storms and even hurricanes, having renters insurance in Massachusetts is critical.
Even though renters insurance isn’t required by the state, it’s still a smart investment. Without renters insurance, you risk paying out-of-pocket to repair or replace your personal belongings if they get damaged. Depending on the value of your items, that could put you in debt.
According to the Insurance Information Institute (III), the average cost of renters insurance in Massachusetts is roughly $194 per year. Although it’s technically the ninth most expensive state for renters insurance, the cost is still affordable for most renters.
As you’re shopping for renters insurance, there are a few things to keep in mind. You’ll need to determine how much coverage you need and what you can a… Read More