Why You Need a Renters Insurance Policy

Renters insurance is the coverage that helps to protect you from the risks that may come with potential damage or theft of your property as you rent a home. It is also known as tenant insurance.

While it is not mandatory to have this insurance according to the law, it is a requirement by most landlords in Boston, MA that you have renters insurance. Smoller Insurance Agency is here to assist. 

Benefits of Renters Insurance

This coverage serves to protect you against distress in the event of:

Sustained injuries.

When you have renters insurance, you need not worry about any extra finances that you may need to cover the cost of treatment in case of any injury that has been sustained by you or any other person who was on your property at the time of damage.

Damage to your or another person’s property.

In the unfortunate event that your property has been damaged, or your property has caused damage to another person’s property, the insurance cover will see to it that the person has been compensated. It will also be of assistance where you may need to repair your property or the landlord’s property.

Apart from the potential damage and injury that may occur during a burglary, you are also very likely to lose your property. Even if you were not in your house at the time of loss, the insurance could compensate you for the present-day cost of your property.

Additional expenses associated with moving to a temporary residence.

Some situations such as natural disasters or renovations may need you to move to a temporary residence. The insurance will cover the expense that you need to part with to stay at the temporary residence.

Contact Us Today

It is worth noting that you are not covered by your landlord’s property insurance. It is therefore important that you put in your priorities a cover for all the property that you have in your rental in Boston, MA. Smoller Agency Insurance is here to help with renters’ coverage. Give us a call today. 

Electric vs Gas-Powered Cars

Forbes Advisor compared hypothetical annual insurance costs on electric versus gas-powered vehicles. Check out their findings in this image!

These rates were determined using a hypothetical female driver with a clean record getting the following coverages:

  • $100,000 in bodily injury liability per person
  • $300,000 per accident
  • $100,000 in property damage liability
  • Collision coverage
  • Comprehensive coverage
  • Uninsured motorist coverage
  • Any other coverage required in the state
  • $500 deductible

Read more about Forbes Advisor’s findings here.

So, electric vehicles are great for the planet and will save you gas money. But, electric vehicles may not save you insurance money. Why? Because the repair and replacement costs for electric vehicles are higher than that of gas-powered vehicles.

However, the other factors that go into determining your insurance premium are still relevant too! These includes age, driving and claims history, and coverage levels, to name a few.

If you want an electric vehicle, you don’t have to let the insurance cost change your mind! Simply give us a call or send us a message and we’ll help to get your rate as low as possible without sacrificing your coverages.