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The Cheapest and Best Renters Insurance in Boston

The Companies With the Cheapest Renters Insurance in Boston

Most renters insurance companies in Boston offer similar coverage. Therefore, the cost is an important factor to consider when picking a policy. Getting renters insurance quotes from multiple carriers will help you find the best policy. MoneyGeek’s study also found the best options in the city for those looking for affordable renters insurance. The cheapest car insurance carriers in Boston are:

  • State Farm: $115 per year
  • MetLife: $134 per year

The policies used in this study have $20,000 in personal property coverage limits, $100,000 in liability coverage limits and a deductible of $500. If you want to know how the prices of renters insurance in Boston change based on personal property coverage limits, you can check the table below.

Massachusetts renters living outside Boston can compare statewide rates for renters insurance in Massachusetts.

Average Annual Rates for Personal Property Insurance

Personal Property Coverage:


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Ensure you're getting the best rate for your renters insurance. Compare quotes from the top insurance companies.


What Are the Best Renters Insurance Companies in Boston?

MoneyGeek ranked the best renters insurance companies in Boston. Based on MoneyGeek’s study, the top renters insurance companies in Boston are:

  • Best Overall: State Farm
  • Runner-up: Amica Mutual

These ratings are based on MoneyGeek’s scoring system, which incorporates affordability, J.D. Power customer satisfaction ratings and A.M. Best financial stability ratings. Additionally, these insurers offer unique coverages that some other renters insurance companies in Boston do not have.

State Farm




User Satisfaction


Financial Stability

Geek Quick Take
Geek Quick Take

State Farm is almost always one of the top-scoring companies across the country. You can buy inflation coverage if you want your personal property coverage limits to automatically increase over time. If you want protection against expenses related to identity fraud, you can add identity restoration coverage to your policy for $25 per year.

More About State Farm

State Farm ranked first in MoneyGeek’s study. It got high ratings across several categories, including a perfect score for affordability.

Amica Mutual




User Satisfaction


Financial Stability

Geek Quick Take
Geek Quick Take

Amica Mutual offers unique features to its policyholders. You can add coverage for identity fraud expenses to your renters insurance. Amica Mutual also rewards loyal customers. If you stay with the company, you can get cheaper premiums with loyalty, claims-free and AutoPay discounts.

More About Amica Mutual

Amica Mutual is the second-best choice of renters insurance carrier in Boston. It garnered high scores across most categories, especially in customer satisfaction.





User Satisfaction


Financial Stability





User Satisfaction


Financial Stability

The Average Cost of Renters Insurance in Boston for 2024


renters insurance is equal to the average.

The average renters insurance policy in Boston costs $138 annually, which is around $12 per month. Meanwhile, the national average cost of renters insurance is $159 per year. That means Boston renters pay an average of $21 less than other renters in the country.

What Factors Impact Renters Insurance Costs in Boston?

There are several factors that impact your renters insurance cost. The following factors all contribute to the amount you will spend.

  1. Personal property coverage amount – The amount of coverage is by far the most important factor in determining the cost of your policy. Insurers carefully consider how much property they need to cover when calculating the price of a policy.
  2. Location within a city – Neighborhoods with higher crime rates tend to have higher renters insurance rates. However, the impact on the cost is minimal.
  3. Deductible – The deductible you will pay out of pocket when making a claim will also affect your renters insurance premium. Having higher deductibles will lower the cost of your renters insurance in Boston.
  4. ACV vs. RCV – Insurance carriers reimburse policyholders based on either actual cash value (ACV) or replacement cost value (RCV). An ACV policy will pay based on the current value of your assets, considering depreciation. On the other hand, RCV plans cover the cost to buy a new item of a similar type as your possession. Because of this, RCV policies are more expensive than ACV.
  5. Liability coverage amount – The liability coverage amount of your renters insurance in Boston will affect premium costs, but not by much. With a few more dollars per year, you can add thousands of dollars of coverage.

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Does My Boston Neighborhood Impact Cost of Renters Insurance?

Where you live in Boston has a limited impact on the cost of your renters insurance. MoneyGeek’s study shows that the impact of your neighborhood location on your premium rates is only a few dollars per month.

Understanding Renters Insurance in Boston

No state laws require Boston renters to purchase insurance, but your landlord may require you to have a policy. MoneyGeek also recommends renters insurance as it is an affordable way to protect your personal property.

What Does Renters Insurance Cover in Boston?

When looking for renters insurance in Boston, it is important to ensure that the coverage amount of the policy you buy is suitable for your needs. It should provide sufficient protection against possible expenses due to covered perils like some weather-related conditions and theft. According to the FBI, the city recorded 1,759 property crimes per 100,000 residents in 2019. That is 7% below the national average.

Apartment and rental home residents may also want to cover other risks like fires and water damage. The common inclusions that carriers often offer in renters insurance plans are:

  • Personal property coverage – This coverage refers to the contents of your rented home. The carrier will reimburse expenses related to certain perils like fire, vandalism, theft, plumbing issues, electrical malfunctions and some weather-related damages.
  • Additional living expenses – If your rented unit becomes uninhabitable due to a covered peril, this coverage will allow you to get reimbursements for your temporary housing expenses.
  • Liability insurance – If an accident in your rented unit causes damages or injuries to someone else, liability insurance will cover the legal expenses and court judgment payments.
  • Medical payments coverage – If an accident in your rented property causes injuries, this coverage will help with the medical expenses regardless of who is at fault.

What Is Not Covered by Renters Insurance in Boston?

Renters insurance in Boston only covers the policyholder’s personal property. The owner of the building is in charge of getting insurance for the structure of the home.

Other perils are also excluded. For instance, standard renters insurance policies cover only certain water damages. If you want to cover water damage due to flooding, you will have to buy incremental insurance through the National Flood Insurance Program (NFIP).

Renters insurance also does not cover your roommates’ possessions, damage from earthquakes, damage to your car or valuables that exceed policy limits. Always read the policy carefully to prevent any misunderstandings about the coverage and claims.

Frequently Asked Questions About Renters Insurance in Boston

Buying renters insurance in Boston will protect your assets. However, you have to make sure you are getting the best deal possible based on affordability and quality. Here are some of the most common questions about renters insurance in the city.

Renters insurance in the city averages $138 per year or approximately $12 per month.

On average, Boston renters will find the cheapest options to be State Farm ($115 per year) and MetLife ($134).

MoneyGeek’s study found that the best renters insurance company in Boston is State Farm.

While not a legal requirement, your landlord may require you to buy renters insurance in Boston. Additionally, MoneyGeek recommends it for all Boston renters as it provides protection at a low cost. Assess your belongings and the risk factors to determine how much coverage to get.

Renters Insurance in Boston Analysis: Methodology

Moneygeek analyzed hundreds of renters insurance quotes in Boston to help you find cheap renters insurance. The best renters insurance rankings were determined using data from J.D. Power, AM Best and our affordability metrics derived from a comprehensive analysis of quotes provided by Quadrant.

About Mark Fitzpatrick

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Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.