Real Estate Management and Investment is a property management company located in Boston, Massachusetts. They require all residents to have renters insurance and have partnered with Effective Coverage as a preferred provider of renters insurance for residents.
In a city like Boston, you’ll be living in fairly close quarters with other people when you move into an apartment. You don’t know those people, and you don’t know what they’re doing in their apartments. Could one of them start a fire by accident?
If that happened, your policy would respond to replace your personal property. You may think that the things you own aren’t worth much, but replacement cost is standard on your policy so you’ll end up with the amount of money you need to go buy new property of like kind and quality at retail.
The liability coverage on your Massachusetts Renters Insurance is required because the company wants to be sure that if you cause damages through an accidental loss such as a fire, you’ll be able to make good on those damages. Of course, the buildings are insured, but commercial property deductibles are often quite high.
In addition, if you were to cause a loss to an insured building through your negligence, it’s quite likely that the insurance company paying for the damages would seek to recover those costs, as well as the company’s deductible, from the person who caused the loss. That could well be you.
Instead of worrying about someone else’s insurance company trying to recover from you, your renters insurance pays for that loss caused by your negligence and allows you to move on with your life and for everyone involved to be made whole. Importantly, your insurance also provides you with a defense against the claim or lawsuit. That means they’re paying the lawyers so you don’t have to.
Boston is an expensive city, and the added costs of renters insurance on top of the cost of living here might make you nervous. But rest assured, renters insurance in Boston is quite inexpensive.
The national average price of renters insurance is just $187.00, according to the III. That works out to as little as fifteen dollars per month. The vast majority of families can budget renters insurance easily at those prices.
Additionally, it's important to note that renters are at a significantly higher risk of experiencing loss than homeowners. Renters occupy roughly one third of total housing stock in the country, and yet they are fully fifty percent more likely to experience theft than homeowners, according to the Bureau of Justice Statistics.
It only costs a few dollars a month to protect your family, and this cheap renters insurance is a great way to mitigate the additional risks that come with being a renter.
Renters insurance is the most affordable way to protect your home, your family, and your future. Your renters insurance policy will provide you with a number of different coverages to protect your life, the way you desire:
Personal Property coverage protects your possessions from risks such as fire, theft, and vandalism.
Liability coverage is also part of your renters insurance policy. If you cause bodily injury or property damage to someone else, you’re responsible for the costs. Instead of paying for someone else’s medical bills out of pocket, your policy will cover the costs if you are found to be negligent. Liability coverage will also pay for your defense costs if you have to go to court.
Medical payments to others is a coverage for small injuries to guests in your home, where there’s no serious negligence involved. Not only is this coverage convenient for life’s little accidents, it can help to avoid liability claims that can drag on for years.
Loss of use coverage provides protection for additional living costs. Even a small kitchen fire in your neighbor’s apartment can cause everyone in your building to need another place to stay. Those costs add up quickly, and loss of use coverage pays for the cost of your housing. It can also pay for food costs in excess of what you would normally pay.
Effective Coverage was built to help renters get the coverage they deserve. We only work with highly-rated insurance companies and bring years of experience and extensive training to the table. To get a policy, just call (800)892-4308 or click to get covered - whether you need renters insurance quotes online or coverage anywhere else!
Effective Coverage offers the nation's only completely mobile platform to quote and purchase renters insurance right from your phone or tablet in just one minute. Get an online renters insurance quote today and protect your family.