Click to Call Text Us
Vargas & Vargas Insurance

1133 Washington St
Dorchester, MA 02124

 Get Directions

Author: cvargas

Spring Cleaning & Maintenance Checklist to Prevent Home Insurance Claims

Posted on by cvargas

Want to maximize your spring cleaning schedule to include maintenance items that can help prevent home insurance claims? Read on for some helpful tips!

Organize and declutter

Go through each room in your home and remove any objects that are not useful or needed anymore. Organize your storage space so that useful items are contained neatly. By preventing clutter from accumulating, you are reducing your fire hazards.

Store chemicals and other dangerous items out of the reach of children and pets

While you are going through your home, keep an eye out for any items that could be a potential source of danger for your children or pets. Look for medicine or cleaning chemicals that need to be stored in safe places. Consider adding child locks to certain cabinets to minimize the danger for children. 

Create a Maintenance Schedule

Come up with a plan to help you prepare your home for general maintenance to help prevent serious issues down the road. Having a maintenance schedule helps you feel less overwhelmed by scheduling different services throughout the year, while also giving you peace of mind that your home will be up to date and as safe as possible.

Some must-include items for your maintenance schedule

  1. Check your carbon monoxide and fire alarms. According to staysafe.org, carbon monoxide poisoning and fires are two of the leading safety hazards for homeowners. Make sure your alarms have fresh batteries and are in working order.
  2. Change the air conditioning filter. Air conditioning filters are meant to sort out harmful particles such as dust and mold. By preventing the spread of mold you are keeping your house safer and your family healthier!
  3. Inspect your roof. Check for missing shingles and clogged gutters. This helps prevent water damage to your home and its foundation.
  4. Check Your Oil Tank. Unwanted oil tank leaks can cause a huge headache, especially because oil tank leaks are rarely covered with home insurance plans. 

Stay one step ahead of your maintenance needs!

By keeping your house clean and up-to-date on maintenance, you minimize your risks of safety hazards and damages in the future. It’s worth it! Click here to read one of our earlier posts on Spring cleaning.

When you finish cleaning your house, give Vargas and Vargas Insurance Agency a call and we’ll help you clean up your insurance portfolio! One of our friendly and knowledgeable agents can review your home insurance, auto insurance, health insurance, and other insurance policies to make sure that you have all the coverage that you need, and at the right price. Don’t hesitate, call now – 617-298-0655.

Read More

Is Your Oil Tank Covered On Your Homeowners Insurance Policy?

Posted on by cvargas

Living in Massachusetts has plenty of amazing upsides, but you’re definitely taking a risk if you don’t have your oil tank covered on your homeowner’s insurance policy!

According to state records, over 700,000 homes are warmed by heating oil in Massachusetts, which makes us the second-highest state for residential heating oil consumption.

How Many MA Homes Are Covered If Their Oil Tank Leaks

Despite the heavy use of oil for residential heating, most homes are not covered with their basic homeowners’ policies, sometimes resulting in hundreds of thousands of dollars in costs for homeowners. In one recent story, an oil tank leaked on the property of a MA resident battling COVID-19, costing over $500,000 in damages.

We don’t want this to happen to you, but statistically speaking, you’re likely at risk. Data shows that only about 5% of homes in MA are covered in the case of an oil tank leak.

Given that there are 120 spills a year, we want to make sure you’re prepared in case you find yourself in this unfortunate situation.

How To Get Your Oil Tank Covered

Even though you may not have an oil tank leak on your current homeowners policy, the good news is you can relatively inexpensively add this coverage into your policy.

First, you must comply with the Homeowner Oil Heating System Upgrade and Insurance Law by ensuring your oil tank and valves are safe.

Once you’ve made sure your leak-prevention systems are in place, we can help you add oil leak coverage to your policy that covers you and any neighboring properties contaminated by a leak from your tank.

How To Prevent Oil Leaks In Your Home

Even if you decide to make the wise choice to get oil tank coverage, you can do your best to avoid finding yourself in this situation with regular maintenance checks to your home heating system.

The DEP provides a very useful PDF of Tips for Maintaining Your Heating System that’s free of charge. We’d recommend you print it out and include it in your regular home maintenance tune-up list. Commit to running through these checks regularly so you can spot warning signs and fix small problems before they become a huge ordeal.

We’re Here To Help Find The Right Coverage For Your Situation

Are you missing oil tank coverage on your policy, or are you curious about what else isn’t covered in your homeowners insurance? We’re here to help.

Vargas & Vargas Insurance offers top-rated insurance services that will help keep you and your family protected from unexpected events on your rented property. All our clients enjoy customized insurance coverage to match their unique needs, and we offer affordable prices.Contact us today to get a customized plan, or to just get the peace of mind that you desire!

Read More

What A Home Insurance Policy Doesn’t Cover

Posted on by cvargas

Is your home insurance policy covering you when you need it most? If you’re like most people on a “standard” home insurance plan, there are several things that aren’t actually covered with your policy!

Don’t worry – you’re about to find out what a home insurance policy doesn’t cover, and how you can quickly make a few updates to your plan to make sure you’ve got the coverage you need.

Before we get into that, take a quick inventory of what you’re hoping is covered in the case an unfortunate event presents itself to you. As we take a deeper dive into what isn’t covered, you’ll be able to quickly identify whether you’ll need extra coverage or if you’re in the clear!

What Doesn’t A Home Insurance Policy Cover?

Most home insurance policies don’t cover the following:

  • In-Home Businesses
  • Floods
  • Earthquakes
  • Vehicles used for business
  • High-value Jewelry.

Take a quick look at each in more detail, and how you can protect yourself.

In-Home Businesses Are Not Covered By Your Homeowners Insurance

Did you join the recent surge of people deciding to jump into at-home work, including freelancing, or even starting a business that’s based in their home? Whether you’ve just started or you’ve been at it for years, many people are unprepared for a sudden loss to their business equipment.

Don’t let that be you!

There are several ways to get your business property covered if you’ve got a home-based business.

According to the Insurance Information Institute (III), you can:

  1. Add a Policy Endorsement to your existing homeowners insurance. This simple endorsement is a simple way to increase your coverage to include business property. If your policy has minimal coverage for business property already (as some policies do), this can be a low-cost way to get the coverage you need.
  2. Add an In-Home Business Policy. This policy is for you if you need more comprehensive coverage for business equipment and have a need for liability coverage for your business. It can be a life-saver if you need to recoup costs beyond simple business property, such as loss of important papers, records, income, etc.
  3. Add a Businessowners Policy (BOP). If you’re a small/mid sized business that operates out of more than one location (including your home), you’ll want to consider the broader coverage offered by a BOP. 

Be Careful: Floods Are Not Covered In Most Home Insurance Policies

This one is slightly tricky, as most people don’t think they live in an area susceptible to flooding.

However, “flooding” can mean many things in your insurance policy. For example, a failed sump pump or water damage due to a clogged drain are generally not covered in a standard home insurance policy.

Many people have been saved by adding a separate flood insurance policy, as there is some gray area in standard policies, and they chose to be safe rather than sorry!

Earthquakes Aren’t Covered

Earthquakes are on the rise, according to data compiled by the National Oceanic and Atmospheric Administration branch of the US Government (and shown in this chart). Despite this, earthquakes are not covered by most home insurance policies.

If the thought of an earthquake hitting your area makes you tremble a little, you may want to consider specific earthquake coverage to be on the safe side.

Vehicles used for business

Not surprisingly, vehicles used for business are not covered in a homeowners policy, even if the damage to the vehicle happens on your property.

High-Value Jewelry

Jewelry-lovers take note! If you’ve got jewelry valued at over $2,000, there’s a good chance your homeowners insurance will not cover these pieces.

To make sure you’re covered, you can easily add on additional coverage into your policy to account for the loss if something should happen to your valuables. 

We’d recommend learning about coverage for commercial auto insurance if you own vehicles used for business, or check with your employer to ensure they have the correct coverage.

We’re Here To Help Find The Right Coverage For Your Situation

Don’t be alarmed if you’re in any of the categories above. Everyone’s situation is unique, and you deserve to be informed about what is – and what isn’t – included in your coverage. 

Let’s talk over your current policy and make sure you’ve got everything you need for your situation. 
Contact us today to get a customized plan, or to just get the peace of mind that you desire!

Read More

Homeowners Insurance Facts

Posted on by cvargas

If you own and home or condominium with an outstanding mortgage, you are required to carry homeowner insurance.  But, if you are thinking of purchasing one, you should know what insurance policies cover and don’t cover you for.

Some Loses are not a Part of Home Insurance

If you plan to purchase home insurance, you need to know that standard policies don’t cover earthquakes or floods. In these cases, you may need to add the coverage to your home or condominium policy or purchase separate policies that offer you coverage for these perils.

Some Dog breeds can make it Challenging to Purchase Comprehensive Insurance

All homeowner’s policies give you coverage if your dog bites someone. This way, the liability portion of your insurance saves you from financial ruin. But some insurance providers refuse to offer coverage to homeowners who have dogs with different breeds like Rottweiler and bulls. Therefore, you may have to dig a bit deeper to find the right insurance policy that will also cover you for dog bites.

Polices Can Cover Plane Crashes

Of course, there are chances of a plane falling from the sky onto your house, but some insurance companies still offer you coverage for this. They even offer you a plan for several things that can fall from the sky, including the tree.

Food Spoilage Coverage

A power outage can occur due to several problems. When your fridge is not working, your stored food may get spoiled in a few hours. Some insurance policies offer food spoilage coverage, this kind of coverage will pay you for your spoiled food.

Volcano Damage Plans

It might surprise you, but there are home insurances that cover volcanic damage. If you live near volcanic mountains, this plan is beneficial for you. Even if the volcanoes have been dormant for centuries, it still has some risks. Well, it’s better to save yourself than feel sorry.

Birds Damages and Vermin

Any damages caused by birds, Racoons, or squirrels making their way into your attic are not part of standard homeowner’s insurance plans. Whether wild birds have made a nest on your roof or have damaged your windows, you have to make repairs and replacements all by yourself. The best way to prevent further damage is to call animals experts like Clancy Bros Pest Control who can help you get rid of these creatures.

The Bottom Line

These homeowners insurance facts may have encouraged you to read the policies and plans carefully to get the coverage you are looking for. You can also read our blog on Home insurance terms you need to know..

At Vargas & Vargas Insurance, we offer top-rated insurance services that will help you keep your business safe during the winter season. All our clients enjoy customized insurance coverage to match their unique needs as we offer affordable prices. So contact us today for a free quote.

Read More

Insurance Check-Up

Posted on by cvargas

Insurance Check-Up

Life Changes and it’s Time for an Insurance Checkup

Having insurance policies is vital to gain great security and protection from unexpected problems. Ensuring everything in your life at an early stage is also a great idea.

While getting yourself and your house, vehicle, and assets insured is vital, you also need an insurance checkup to review your policies yearly. This allows you to ensure that the insurance coverage will be of help to you when your circumstances and lifestyle change. But if your insurance doesn’t cover you as it should, you need to make some changes to the policies or, even purchase new policies to cover your changing needs.

Here are some reasons why you need to opt for an insurance checkup.

Change in Family Status

Are you planning to get married or expect a baby? It would help protect your growing family by purchasing the right insurance plan. Insurance checkups will allow you to ensure whether the coverage is enough to support your entire family when you are not around. The loss of a family member through disability and death is also the right time for an insurance plan review.

Remodeling or Moving Your House

If you plan to remodel your house, your house value will surely increase. Similarly, if you move from the house, you might own a property with a higher value than the one you have before. Since your assets have increased, you need an insurance plan that covers these assets.

Retirement Time

When you decide to retire, you need something to rely on for your future expenses, especially final expenses, it’s vital to choose the right insurance plans to protect you properly. It would also be helpful if you had the proper insurance that will pay for your funeral, medical care, and debts.

Chance in Assets Value

Many people insure their jewelry and other assets to get the money if they get damaged or lost. But they forget the fact that these valuable assets increase over time. By keeping the coverage updated regularly for these valuable assets, you are protected in the event you lose them or they are stolen.

Discounts

Many insurance companies offer discounts on different insurance plans. This way, you can purchase the right insurance plans at much lower prices. So, if you have not received your discounts, it’s time to have an insurance checkup.

Bottom Line

Whether it’s life, house, vehicle, or assets insurance, insurance is not something that you purchase and forget. You need to always look for ways to lower your premiums and avail optimal benefits from your policy. For this purpose, you need to opt for an insurance checkup.

Missing Coverage

If you have any assets at all, an umbrella policy is a valuable protection. Home insurance and car insurance policies have liability limits that are often not high enough to protect you adequately. If you are found to be at fault beyond your liability limits, you may be required to pay the remainder of the money out of pocket. It could take all of your savings and assets and even your future assets to make that payment.

This will help you look for flaws in your insurance and allow you to get the features that you don’t have. Not only this but practicing this method can help you lower your premiums and get interesting discounts and offer. So, if you currently have any insurance, consider reviewing it.

At Vargas & Vargas Insurance, our clients enjoy customized insurance coverage to match their unique needs at incredibly affordable prices. Contact us today for a free insurance review or quote.

Read More

Winter Driving And Car Accidents

Posted on by cvargas

Winter is a good and delightful time of the year. It brings snow to make a cute snowman and enjoy a snowball fight with our friends and family. However, these attractive aspects can make winters dangerous for drivers. As the days get colder, the risk of road accidents increases. Therefore, taking precautionary measures and driving with complete focus is important to save your life. The NHTSA mentions many tips on their website, and here are some tips and tricks to drive your vehicle during cold weather safely.

Winter Driving Tips

Drive Slowly and Super Smoothly

The trick to safe winter driving in snow is being smooth with your accelerator, steering wheel, and brakes. Every push of the brakes, turn off the wheels, or throttle movement needs to be gentle, deliberate, and gradual. It would help if you tried to be as slow as you could while driving the car.

Avoid Involving in Distractions

Most accidents happen when the driver is distracted doing other things while driving. Therefore, avoid talking to the passengers when driving in extremely cold weather, never use your phone, eat food, or listen to music at high volume. You need to avoid every type of distraction if you want to avoid an accident.

Turn On Your Lights

Turning your lights on will help other drivers on the road to see you from far. Headlights can also make your vehicle visible on extreme fog days. This way, whenever other drivers notice you on the road, they will drive carefully around you.

Avoid Driving in Harsh Weather

This is another very important winter driving tip. Driving in winters can be extremely challenging. So, if you find yourself not having to drive in dangerous weather conditions, don’t push yourself to drive in these circumstances. Cancel your journey as soon as possible and head back to your house. If the weather is too harsh to get back to the house, go to the nearest place to relax until the condition becomes appropriate for driving.

Do You Need to Report Accidents?

Many people don’t report accidents if they are not serious. But this is a wrong approach. Not only do you reduce your chances of getting insurance coverage, but you can also save others. Wondering how? Well, report accidents to the authorities in your area to find ways to solve the problem. They first try to find the cause of your accident and then opt for different ways to resolve the issue. So, even if you had a bad experience, you can save others from going through the same trauma.

Wrapping Up

Besides the mentioned winter driving tips, you also need to install high-quality tires in your vehicle. It’s also vital to check the weather conditions before stepping out of your house. If you can, keep some important things on you while traveling long distances at night. This includes extra batteries, a torch, water bottles, and snacks. So, if you have to spend the night in your car on the roadside, you will have all the essentials to pass the night. Click here to read more.

Vargas & Vargas Insurance understands that sometimes you may not be able to stay off the roads and things happen. That’s why, as a premier local independent insurance agency, we strive to build the relationships necessary to customize your insurance coverage to your needs at the right price. Contact us today.

Read More

Preventing Frozen Pipes at Your Home and Office

Posted on by cvargas

Cold temperatures can mean frozen pipes and finding solutions to prevent bursting pipes and flooding of your home are very important. Water will expand in the freezing environment, while metal pipes get a contract in colder days. Since the water in the pipe responds to winters oppositely, this causes pipes to damage or burst.

Here we have mentioned some simple and accessible tips that you can use to prevent this problem in your home and offices.

Add Insulation to Different places

Adding insulation to basements, attics, and crawl spaces will help you get higher temperatures in these areas. Not only will this help you live comfortably in your house, but it also keeps your pipes in these spaces from freezing. 

Close Garage Doors

Most people keep their garage door open while doing a different task. However, this can lead to great problems if you have a water supply in this area. The cold and freezing air can reach the pipes and cause them to freeze. Closing all the passages for wind can help you maintain a warm environment around the pipes.

Allow Water to Drip from Faucet

You need to keep open one or two faucets in your house or office throughout the winter weather. Running water through the pipe prevents water from freezing by staying in one position. Of course, you don’t need to open the faucets, allowing faucets to trickle completely will do the trick.

Seal Leaks

Hire an expert to identify air leaks in your house and office, especially near the pipes. Ask the experts to use different methods to seal leaks around the windows, doors, and electrical wiring. You can also use insulation or caulk to keep the cold air out of your personal space.

Open Cabinet Doors

This might look like a bizarre idea, but it can help you save yourself from great troubles. Keeping your cabinets open in winter will allow heat to get to the pipes present in your walls. This technique is more important for pipes under appliances and sinks that have more risk of bursting.

Drain Outside Water Lines

Water lines in uninstalled or unheated areas have more risk of freezing. Since the outside pipes and water lines are more exposed to freezing weather, you need to drain them before winter. So, prepare your water lines and empty them before winter.

Drain Water from Swimming Pool

Water in a swimming pool can get frozen, which can freeze other pipes connected to a swimming pool. Draining water from your house or office pool will save your pipes from getting affected by the freezing wind. Make sure to do this task before winter knocks on your door.

Wrapping Up

 Frozen pipes can ruin your day, as it can lead to costly repairs. Not to mention, bursting frozen pipes also waste your time and effort that you can use for some productive work. So, it’s vital to prepare your water lines for this problem, rather than getting into trouble. For this, you can keep your cabinets open and the garage door close to maintain a warm temperature. Also, you can seal leaks and insulate different spaces in your office and home.

Protect Your Property with Vargas & Vargas Insurance

At Vargas & Vargas Insurance, we offer top-rated insurance services that will help you keep your property safe and protected. Should you suffer a frozen pipe that you need help with, we are but a call, text, or email away. All our clients enjoy customized insurance coverage to match their unique needs, and we offer affordable prices. Contact us today for a free quote.

Read More

How Flood Insurance Works, How Much Does It Cost, and How It Protects the Homeowner

Posted on by cvargas
How Flood Insurance Works and Costs

Many homeowners in Massachusetts don’t know that their standard insurance policies don’t cover flood damage. Flood insurance is a separate policy designed to protect and compensate property owners for physical damage caused to a property’s structure and personal belongings.

In this post, we’ll share how flood insurance works and how it protects the homeowner. Using this information, you can determine if you need flood insurance and learn where to get it.

What Flood Insurance Covers

Depending on your policy, flood insurance coverage can pay up to $250,000 for structural damage and $100,000 for personal possessions. Filing a flood insurance claim is no different from filing a regular claim on your homeowners or car insurance. Following your claim application, an insurance adjuster will survey the damage, after which you’ll have to submit a “proof of loss” form, which contains every damaged item within 60 days.

Here’s a breakdown of the coverage:

Structural Damage

Flood insurance provides replacement cost coverage for primary residence and actual cash value coverage for vacation homes. A standard policy pays for structural damage to a building’s foundation, cracks or bulging in walls and ceilings, damp floors, roof, etc. Some policies can also cover damage caused to plumbing, heating and cooling, and electrical systems.

Personal Property Damage

Apart from structural damage, flood insurance also covers damage to furniture, window treatment (curtains, drapes), electronic appliances, art, and other valuables. However, in this case, coverage is offered on an actual cash value basis only, meaning insurers will take depreciation into account.

What Flood Insurance Doesn’t Cover

The following is a list of items not covered by a flood insurance policy:

  • Mold damage
  • Currency, precious metal, and documents
  • Outdoor property like gardens, decks, patios, sewage systems, pools, etc.
  • Temporary accommodation in extreme flood cases
  • Vehicles

How Much Does Flood Insurance Cost in Massachusetts?

The cost of flood insurance premiums in Massachusetts varies according to your city and your property’s location. The rule of thumb is, the closer your property is to a high-risk flood zone, the higher the premium. On average, residents in the Bay State who are in a preferred flood zone will pay around $550 per year, but someone who is in a federal flood zone will pay an average $1,300 per year for about $250,000 in coverage.

How to Get Flood Insurance

Now that you know how flood insurance works and what it covers, the next step is to purchase a policy. The Federal Government provides flood insurance through the National Flood Insurance Program (NFIP), run by the Federal Emergency Management Agency (FEMA). However, they do not sell insurance policies directly but through private insurance companies. A local insurance agent or company in Massachusetts can help you purchase a policy from the NFIP. Once approved, it takes around 30 days before the policy goes into effect unless you purchase flood insurance while taking out a mortgage.

Protect Your Property with Vargas & Vargas Insurance

At Vargas & Vargas Insurance, we offer top-rated insurance services that will help you keep your property safe and protected from a flood. All our clients enjoy customized insurance coverage to match their unique needs, and we offer affordable prices. Contact us today for a free quote.

Read More

What Is Umbrella Insurance, and What Does it Cover and Cost?

Posted on by cvargas

Understanding Umbrella Insurance and What it Does (& Doesn’t) Cover

Sometimes, a standard homeowners or automobile insurance policy isn’t enough to get you out of financial trouble, especially in the event of a huge and potentially devastating liability claim above the liability limits of your policies. This is where Umbrella insurance coverage comes to the rescue and helps avoid or minimize the financial repercussions of major property damage or extensive bodily injuries caused by you.

In this post, we’ll briefly share what Umbrella insurance is and what an Umbrella insurance policy does (& doesn’t) cover so you can decide whether it’s time for a policy upgrade.

What is Umbrella Insurance?

Think of Umbrella insurance as a fail-safe for your financial assets in the event of a liability lawsuit that extends your homeowners’ and automobile’ policy’s limits. An Umbrella policy can help anyone, especially those found legally responsible for causing extensive property damage and/or injuries to other parties. The following are some incidents that may require an Umbrella policy:

  • Your dog runs out of your apartment or home and viciously attacks a pedestrian or neighbor. They can sue you for medical bills, emotional distress, and lost wages.
  • Your teenage son or daughter throws a party on your property while you’re away. An underage guest gets arrested for driving under the influence, and you get sued for negligence.
  • A potential homebuyer visits your property on a rainy day and slips and falls down the stairs because of a roof leak.
  • You injure someone in an auto mobile accident, and they sue you above the limits that you carry on your automobile insurance policy.

What Umbrella Insurance Covers

Umbrella insurance covers damages beyond standard homeowners and automobile insurance policy limits as well as claims not covered in liability policies. Here’s a breakdown of the coverage:

Bodily Injury

Regardless of the cause, an Umbrella insurance policy will help cover the medical bills and/or lawsuits that exceed your insurance limit.

Property Damage

If you accidentally damage someone’s property or personal belongings with repair costs exceeding your insurance limit, Umbrella insurance can kick in to cover the remaining cost. For instance, if you lose control while driving and crash into your rental home, this additional policy could help cover for restoration.

Legal Costs

In the event of a lawsuit, and Umbrella insurance policy will cover your lawyer fees when you have to defend yourself in court.

What Umbrella Insurance Doesn’t Cover

The following is a list of items not covered by an Umbrella insurance policy:

  • The policy holder’s personal property was damaged in an incident
  • Business losses
  • Criminal or intentional damage-causing actions (arson, theft, physical assault, etc.)
  • Written or oral third-party contracts
  • ▪       Flood and earthquake damage

How Much Does Umbrella Insurance Cost in Massachusetts?

The cost of Umbrella insurance in Massachusetts varies based on two essential factors – Your insurance limit and risk exposure. You can buy Umbrella liability policies in increments of $1 million. The higher the limits, the higher the coverage costs. Similarly, insurance companies evaluate risk exposure based on the number of properties and vehicles/watercraft, driving record, occupation, and age, among other factors. The higher your risks, the higher the coverage costs. On average, Bay Staters can expect a $1 million policy to cost around $160 to $500.

Get More Protection with Vargas & Vargas Insurance

At Vargas & Vargas Insurance, we offer top-rated  Umbrella insurance policies designed to offer maximum compensation in the event of extensive property damage and bodily injuries. Our clients enjoy customized insurance coverage to match their unique needs at incredibly affordable prices. Contact us today for a free quote.

Read More

How a Renters Insurance Policy Protects You

Posted on by cvargas
Living uninsured in a rental home can put you at risk of personal liability and property damage. Learn how a renters insurance policy protects the renter
What Renters Insurance Does (& Doesn’t) Cover

Are you planning to rent a residence in Massachusetts? Consider a renters policy to protect yourself against the financial impact of unexpected personal property damage, theft, and legal liability. A renters insurance policy is designed to do just that and help protect tenants, their personal belongings, and the occupied property from the financial aftermath of an unfortunate event or accident.

In this post, we’ll share how a renters insurance policy protects the renter so readers can better understand its importance and where to get the best coverage in Massachusetts.

What Renters Insurance Covers

A renters or tenant insurance policy covers renters from the financial repercussions of unexpected or unpreventable events on their rented homes or apartments. Here’s a breakdown of the coverage:

Personal Property Damage

Standard renters insurance policies cover Personal Property Damage in the event of a fire, smoke, vandalism, explosion, plumbing issue, and other listed disasters. You can opt for one of the two policies – Replacement Cost and Actual Cash Value. Replacement Cost covers the full cost of replacing damaged possessions, whereas Actual Cash Value takes depreciation into account, meaning the compensation will depend on your possessions’ usage and age.

Personal Liability

Personal Liability covers property damage and bodily injuries caused by you, your family, and your pets. In case of a lawsuit, the liability portion of a renters insurance policy can pay for medical bills and repairs, as well as the legal costs for your defense in court. The compensation amount typically starts at $100,000 but can be raised higher depending on your needs.

Additional Living Expenses

Additional Living Expenses (ALE) coverage pays for temporary accommodation and expenses when your rented home or apartment is undergoing restoration or renovation following damage. Typical expenses include restaurant bills, transport, hotel bills, and temporary rentals.

What Renters Insurance Doesn’t Cover

The following is a list of items not covered by a Renters insurance policy:

  • Pest infestation
  • Earthquake and flood damage
  • Vehicle theft or damage (Belongings inside the vehicle are covered)
  • Roommate property and personal belongings

How Much Does Renters Insurance Cost in Massachusetts?

Renters insurance rates vary according to the state and where you’re shopping from. The average cost of renters insurance in Massachusetts is $192, or about $16 per month. Your location in the state also influences your cost. For example, if your residence is a region prone to natural disasters like severe storms, floods, wildfires, landslides, you’ll most likely have to pay more than the average. Similarly, if your neighborhood has a crime rate, this will also affect your overall cost.

How to File a Renters Insurance Claim

The following are the main steps for filing a renters insurance claim. However, keep in mind that your claims process may vary on the type and extent of the damage:

  • Contact your insurance company or agent as soon as you and your family are secure (in case of fire, theft, vandalism, etc.)
  • Seek emergency repairs to secure the property’s structural integrity. Make sure all the damage is documented in writing with photos and video footage for proof of damage.
  • Answer all the questions related to the damage asked by the agent and insurance adjuster
  • Discuss your policy’s coverage with your agent to understand what applies to your situation and the compensation limits

Secure Yourself with Vargas & Vargas Insurance

At Vargas & Vargas Insurance, we offer top-rated insurance services that will help keep you and your family protected from unexpected events on your rented property. All our clients enjoy customized insurance coverage to match their unique needs, and we offer affordable prices. Contact us today for a free quote.

Read More

Our Services

Reviews

Partner Carriers

  • Arbella Insurance
  • Commerce
  • Mass Property
  • New London County Mutual
  • Norfolk and Dedham
  • Palomar
  • Pilgrim
  • Plymouth Rock
  • Safety
  • Travelers
  • Vermont Mutual