How much is renters insurance in Boston, MA

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In Boston, MA, the average cost of renters insurance is $347 annually for $40,000 in personal property, $300,000 in liability and a $1,000 deductible. It is $85 more than the state average of $262 per year.

Renters insurance costs may differ depending on the coverage you opt for and the amount of liability coverage included in your policy. If you’re living in a rental property, it’s worth considering this type of insurance to protect your belongings from damages caused by fire, smoke, theft, vandalism and other covered events.

We conducted an in-depth analysis of insurance companies to find the most affordable insurers for renters in Boston. Continue reading to know the cheapest renters insurance companies in Boston.

Key Takeaways

According to Insure.com’s data study, renters insurance costs an average of $347 per year or $29 per month in Boston.
State Farm has the cheapest renters insurance for Boston renters at $11 per month.
Taking advantage of discounts, such as having a security system or bundling renters insurance with other insurance policies, can help reduce your insurance premiums.

What is the average cost of renters insurance per month in Boston?

The average monthly cost of renters insurance in Boston is $29, which is $7 more than the state average of $22. This rate is for the coverage limit of $40,000 in personal property, $300,000 in liability protection and a $1,000 deductible.

Renters insurance rates vary by city depending on the coverage and the insurance company you choose. For example, renters in Boston pay $18 monthly for $20,000 in personal property coverage with a $1,000 deductible. If you increase your personal property coverage to $40,000, the cost will rise by $11 more.

You’ll need to determine the right amount of coverage based on your needs and budget. However, opting for higher coverage limits is recommended if you own valuable items like jewelry, furniture and electronics.

How much is renters insurance in Boston by deductible?

The renters insurance cost in Boston is $244 per year for a $500 deductible and $20,000 as personal property coverage.

A deductible is an amount you agree to pay before your insurance coverage kicks in. If you increase your deductible limit, your insurance cost will go down. For instance, if the personal property coverage is the same, i.e., $20,000, but you increase your deductible limit from $500 to $1,000, you will pay $25 less every year for insurance.

Below are the renters insurance rates for different personal property coverage and deductible amount.

Deductible	$20,000 personal property	$40,000 personal property	$60,000 personal property
$500	$244	$389	$536
$1,000	$219	$347	$477

Read our guide to know what does renters insurance cover.

Who offers cheap renters insurance in Boston?

Your quest for the cheapest renters insurance ends here.

State Farm provides the cheapest rates in Boston, with an annual premium of $133 or $11 per month. Travelers is the second cheapest company, followed by Vermont Mutual.

Insure.com’s experts have compared renters insurance quotes from all the national and regional carriers in Boston to create a list of the most affordable insurers. Below is a list of the cheapest renters insurance companies and their average annual and monthly rates.

Renter insurance provider	Average annual rate	Average per month rate
State Farm	$133	$11
Travelers	$226	$19
Vermont Mutual	$291	$24
Allstate	$332	$28
Arbella Insurance	$333	$28
Amica Mutual	$353	$29
Safety Insurance	$358	$30
Andover Insurance	$401	$33
Mapfre Insurance	$520	$43

Tips for reducing renters insurance cost

Here are some tips to help reduce renters insurance costs in Boston:

Bundle insurance policies: If you have other insurance policies, such as car insurance, consider bundling them with the same insurer. Many insurers offer discounts for bundling in Boston.

Increase deductible: Opting for a higher deductible can lower your premium in Boston, but make sure you’re comfortable with the amount you’d pay out-of-pocket in case of a claim.

Choose the right coverage: Review your policy regularly to ensure you don’t have extra coverage. For example, you might not need as much coverage for personal property if you don’t own many valuables.

Avoid small claims: Filing too many small claims can increase your rates over time. Consider paying for minor damages out-of-pocket instead of claiming them through insurance.

Shop around: Don’t settle for the first quote you receive. Compare renters insurance quotes in Boston from multiple providers to find the best price for the coverage you need.

Final thoughts

Renters in Boston, MA should purchase renters insurance to protect their personal belongings, provide liability coverage, and cover additional living expenses if their rental becomes uninhabitable due to a covered event. Premiums may differ based on location, coverage amount and individual circumstances, but the peace of mind it offers is worth the investment. You can get an affordable policy that fits your budget by assessing your coverage needs, comparing quotes and taking advantage of available discounts.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Boston for $40,000 personal property coverage, $300,000 liability coverage, and a $1,000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.