Mass. renter's insurance covers belongings, relocation costs

If you're [music] renting a property or looking to rent, insurance is an important factor to look into. You never know what may happen, and it's a good thing to be prepared. According to Dowed agencies in Massachusetts, renters's insurance is typically around $20 a month. Renters insurance covers your personal belongings, including valuables, furniture, electronics, and clothing. But it also includes loss of use coverage as well. Loss of use coverage is going to be a percentage of that total amount of contents. So, it's 30% typically in Massachusetts. So, you'd have, let's say, $20,000 worth of contents. 6,000 would be the relocation expense. >> Jack Dout said even if a tenant did not have insurance, landlords in the state of Massachusetts must carry a tenant relocation expense on their policy. So, if anything were to happen to the rented property, such as a fire, tenants will receive $750 as an endorsement required by the state along with what they would receive from their renters's Insurance it.