Renters Insurance

  • Overview
  • What It Covers
  • Discounts
  • FAQs
  • Get A Quote!
Unlike homeowners' insurance, renter's insurance covers only the value of your belongings, not the physical building.

By purchasing renters insurance, your possessions are covered against losses from fire or smoke, lightning, vandalism, theft, explosion, windstorm and water damage (not including floods). Your renters insurance also covers your responsibility to other people injured at your home or elsewhere by you, a family member or your pet and pays legal defense costs if you are taken to court. Renter's insurance covers your additional living expenses if you are unable to live in your apartment because of a fire or other covered peril. Most policies will reimburse you the difference between your additional living expenses and your normal living expenses but still may set limits as to the amount they will pay.

There are two types of renter's insurance policies you may purchase:

  • Actual Cash Value - pays to replace your home or possessions minus a deduction for depreciation up to the limit of your policy
  • Replacement Cost - pays the actual cost of replacing your home or possessions (no deduction for depreciation) up to the limit of your policy

With either policy, you may want to consider purchasing a floater. A standard renter's policy offers only limited coverage for items such as jewelry, silver, furs, etc. If you own property that exceeds these limits, it is recommended that you supplement your policy with a floater. A floater is a separate policy that provides additional insurance for your valuables and covers them for perils not included in your policy such as accidental loss.

A standard renters insurance policy includes 3 essential types of coverage:

  • Coverage for your personal belongings.
  • Liability protection.
  • Additional living expenses in the event you are temporarily unable to live in your home because of a fire or other insured disaster. Please see the 'What It Covers' section for more details about coverage's offered.

Do You Want A Renters Policy For FREE?!!

The cost of a renters policy is very small, about $250.00 for a basic policy. That's less than 70 cents a day for coverage. But did you know you can practically get a renters policy for free if you insure both your auto and renters insurance with Carroll K. Steele Insurance. Our variety of discounts include an account credit on your auto and renters' policy if you insure both with us- that savings could cover the cost for the renters policy! To learn more about the discounts available please see the 'Available Discounts' section, or give us a call or email us- we would be happy to discuss your options.
Basic Policy Coverages
Basic Coverage
Optional Coverages
Personal Property
Coverage to repair or replace your personal property like furniture, appliances, clothing, and other personal belongings.
limit dependent on policy holder - usually starts at $25,000

Replacement Cost coverage - pays total cost to replace your personal property at today’s prices with no deduction for age or wear & tear

Schedule Personal Property list specific items such as wedding rings for full replacement.

Personal Liability
Coverage for personal injury to others or their property, including wrongs such as libel, slander, invasion of privacy
$200,000 - $500,000
Medical Coverage To Others
Medical coverage for accidental injury to others while in your apartment.
$2,000 - $10,000

Massachusetts renters insurance limits vary with each insurance company. Above summary is a general description of major coverages of a typical Massachusetts renters insurance policy and does not include all coverages or complete details of any coverage. You may find one insurance company provides more coverage under their basic policy than another. To determine the best policy for you and for a complete understanding of coverages available please contact us for more information.

Available Discounts & Credits
We have access to over 200 insurance companies each providing their own exclusive credits and discounts. One more example how Carroll Steele Insurance is providing the best in product selection and service. Check the list below to see what credits and discounts we can provide you.
Discount %
Multi Policy Account Credit
Discount on condo insurance if both auto and condo are written by Carroll K Steele Insurance Agency.
Alarm System Credit
Up to 25%
Depending on type of system, fire, burgular, we can provide a substantial discount.
Age of Home / Renovations Credit
Credits based on age of home, electrical system, heating/cooling and plumbing systems.
Loss Free Credit
Claim free for at least 4 years.
Non-Smokers Credit
Non-Smokers can enjoy an additional 2% credit on their condo insurance policy. One more way we award safe homeowners!

Our Quote form provides a place to select all of these discounts and credits. Request a Quote to find out how much you can save on all your insurance needs.

Frequently Asked Questions
What about floods, earthquakes and other catastrophes?
Most catastrophes are covered; for example, wind damage from hurricanes and tornadoes come under the windstorm peril listed in the previous question and so are included. Flood and earthquake damage, however, are not covered by a standard policy.

Be careful not to be lulled into a false sense of geographic security. Flood and earthquake activity is more widespread than many people realize. For example, almost 90 percent of the U.S. population lives in seismically active areas. Since 1900, earthquakes have caused damage in all 50 states. And if your home is located in a flood-prone area, you are 26 times more likely to suffer a flood loss than a loss from fire.

If you have a question that isn't answered here please submit it to us using our Ask An Expert forum!

Coming soon! For now email us at This email address is being protected from spambots. You need JavaScript enabled to view it. or call 978.283.5100. Even fax us the details at 978.281.0473 and we'll provide you a quote!
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