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Corin Cook

By: Corin Cook on October 12th, 2021

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How Much Does Renters Insurance Cost in MA?

Individuals & Families | Renters Insurance | Renters Insurance

Your apartment may feel like your safe space, but it doesn’t mean it’s exempt from all risks.

Renters insurance provides pivotal damage and liability coverage, so when it comes to your apartment, it’s definitely something you don’t want to forego. 

But like anything, renters insurance comes with a cost. And we understand if you are concerned about that cost.

But we’re here to ease your worries. At Berry Insurance, we’ve issued thousands of renters insurance policies for Massachusetts renters. And we’re here to tell you: it may not be as expensive as you think.

In this article, we’ll give you an estimate on what renters insurance can cost, get into the factors that influence it, give some real examples of insurance premiums for Massachusetts apartments, and even explain some ways you can save.

What a MA renters insurance policy costs:

As is the case with most types of insurance, the cost of renters insurance can vary from person to person.

But we can give you a rough estimate based on what we usually see for premium prices.

Depending on several factors, you can generally expect a condo insurance policy to fall somewhere between $100 - $300 per year or $8 - $25 per month. The average cost of a renters insurance policy in MA is $194 (approximately $16 a month).

For a more accurate estimate of what renters insurance would cost you, you would need to factor in several other pieces of information.

Factors that influence the cost of MA renters insurance:

As we mention, the cost of renters insurance can vary substantially from property to property, based on many factors. Here’s what you can expect to play a role.

Renters insurance limits:

Each type of insurance has limits. These amounts are the total amount the insurance carrier would pay out if you were to have a claim.

And each policy actually has several different limits corresponding with the separate coverages within the policy.

Your renters insurance may have limits for coverages such as, personal property, loss of use, medical payments to others, personal liability, and personal injury.

Generally, with higher limits, you can expect a higher cost.


Another factor that influences the price of renters insurance is your deductible. A deductible is the amount you would have to pay out before an insurance carrier paid you any claim money. And usually you have a few deductible options for you to choose from.

With renters insurance, you can generally choose between $500 and $1,000

The higher your deductible, the lower your premium will be.


When calculating a quote, insurance companies will evaluate how likely they think you are to have a claim based on your risks. The higher your risks, the higher your premium will be. 

Prior claims:

If you’ve ever had a renters insurance claim, your carrier will consider you more of a risk to have another and may charge you more because of it.

Your insurance carrier:

Each insurance carrier rates cost differently, so the cost of a policy can vary based on the carrier it’s quoted with. We’ve seen renters insurance quotes for the same property vary significantly.

That’s why we always stress working with an independent agent (like us) who can shop your insurance around with all the carriers they work with to get you the right coverage at the right price.

MA renters insurance premium examples:

You know the factors that influence price, but you probably still don’t have a clear idea of how exactly they will apply to your specific situation..

So to help give you some more insight, we’ll give you some examples of some of the renters insurance policies we’ve issued recently.

  • A Somerville apartment with $20,000 of personal property coverage and a $1,000 deductible: $189
  • A Boston apartment with $15,000 of personal property coverage and a $1,000 deductible: $191
  • A Boston apartment with $50,000 of personal property coverage and a $1,000 deductible: $363
  • A Brookline apartment with $100,000 of personal property coverage and a $1,000 deductible: $724

Ways to save on renters insurance:

The right coverage for your apartment isn’t always cheap. So if your premium is higher than you want it to be, there are some ways you may be able to save some money.

Bundle policies:

Many insurance companies offer incentives for the more business you provide them. By bundling multiple policies (such as renters and auto) with the same insurance company, you may be able to save approximately 5-25 % on your policies.

If your insurance policies aren’t already bundled, this is the simplest way to reduce insurance costs.

Increase your deductible: 

If you want to save money on your renters insurance, you could consider increasing the deductible.

Of course, if you have a situation resulting in a claim, you will have to pay more out of pocket, but it may make sense for you to take that chance in order to save some money.

Pay via EFT/ACH or pay ahead:

Paying for your insurance through electronic funds transfer (EFT), automated clearing house (ACH), or paying the premium up front can eliminate billing fees.

If you’re comfortable with your payment automatically withdrawing from your bank account each month, or if you can afford to front the entire premium, these methods can save you both time and money.

Switch to paperless billing:

If you get your insurance bills in the mail, opting to have them delivered through email will also save you money on your premium.

Apply discounts:

Depending on your carrier, you may be eligible for renters insurance discounts such as sprinkler discounts, discounts for home alarm/security systems; as well as several other auto discounts you can apply if your policies are bundled.

For the best price, insure your home through a reputable agent

If you’re looking for the right price for your renters insurance, you’ll want to make sure you’re working with a reputable insurance agent. You’ll want to work with someone who won’t oversell you on insurance to make some extra money. Conversely, you also don’t want to work with somebody who will provide you the minimum coverages to make the quote more appealing (because then you could be stuck with a huge out of pocket expense down the road.)

That’s why research is important. At Berry Insurance, we pride ourselves at being transparent and honest while providing high quality insurance. We also like to help people find the right agent for them (whether it be us, or another one of the reputable agencies in the area.)

So as you begin your search for your insurance agency, check out this article: What to Look For when Selecting an Insurance Agency or Company.