How much is renters insurance in Worcester, MA

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The average cost of renters insurance in Worcester, MA is $283 per year (for insurance coverage of $40,000 in personal property coverage, $300,000 in liability coverage and $1000 as deductible) — that’s $21 more than the state average of $262 a year.

It can be higher or lower depending on the coverage limit you choose and the amount of liability the policy provides. If you live in a rented apartment or home, you should consider buying renters insurance because it protects your personal belongings from damage caused by covered perils such as fire or smoke damage, theft, vandalism and other mishaps.

We did a thorough analysis of renters insurance companies to find the most affordable options for Worcester renters. Keep reading to find out the cheapest renters insurance companies in Worcester.

Key Takeaways

The average cost of renters insurance in Worcester is $283 annually or $24 monthly.
The cheapest option for renters in Worcester is State Farm, offering coverage at $11 per month.
Renters can reduce their insurance costs by taking advantage of discounts, such as discounts for installing a security system or bundling policies.

What is the average cost of renters insurance per month in Worcester?

On average, the cost of renters insurance in Worcester is $24 a month. It’s $2 more than the state average of $22. Renters in Worcester pay these rates for the coverage limit of $40,000 in personal property coverage, $1,000 deductible and $300,000 in liability protection coverage.

The renters insurance rates vary by city depending on your insurance provider and the coverage limits you choose. For example, renters in Worcester pay $15 per month for personal property coverage of $20,000 and a $1,000 deductible. However, if you decide to increase the personal property coverage limit to $40,000, you will pay $9 more for renters insurance.

Now, you’ll have to decide how much coverage you need and how much you can afford. However, it is recommended that you choose higher coverage limits if your personal belongings consist of expensive jewelry, furniture and electronics.

How much is renters insurance in Worcester by deductible?

The renters insurance cost in Worcester is $203 per year for a $500 deductible and $20,000 as personal property coverage.

A deductible is an amount you agree to pay before your insurance coverage kicks in. If you increase your deductible limit, your insurance cost will go down. For instance, if the personal property coverage is the same, i.e., $20,000, but you increase your deductible limit from $500 to $1,000, you will pay $19 less every year for insurance.

Below are the renters insurance rates for different personal property coverage and deductible amount.

Deductible	$20000 personal property	$40000 personal property	$60000 personal property
$500	$203	$317	$435
$1,000	$184	$283	$387

Read our guide to know what does renters insurance cover.

Who offers cheap renters insurance in Worcester?

Your quest for the cheapest renters insurance ends here.

State Farm provides the cheapest rates in Worcester, with an annual premium of $136 or $11 per month. Travelers is the second cheapest company, followed by Vermont Mutual.

Insure.com’s experts have compared renters insurance quotes from all the national and regional carriers in Worcester to create a list of the most affordable insurers. Below is a list of the cheapest renters insurance companies and their average annual and monthly rates.

Renter insurance provider	Average annual rate	Average per month rate
State Farm	$136	$11
Travelers	$170	$14
Vermont Mutual	$185	$15
Amica Mutual	$261	$22
Safety Insurance	$266	$22
Allstate	$269	$22
Arbella Insurance	$282	$24
Andover Insurance	$320	$27
Mapfre Insurance	$470	$39

Tips for lowering the cost of renters insurance

Follow these tips to reduce the cost of your renters insurance in Worcester:

Bundle policies: If you have other insurance policies, such as car insurance, consider bundling them with the same company. Many insurers in Worcester provide discounts for bundled policies.

Increase your deductible: Opting for a higher deductible can lower your premium in Worcester, but make sure you’re comfortable with the potential out-of-pocket costs if you file a claim.

Choose the right coverage amount: Review your renters insurance policy regularly to ensure you aren’t paying for unnecessary coverage, such as excess personal property coverage if you don’t own many valuables.

Avoid filing too many claims: Filing frequent small claims can increase your rates. It might be worth paying for minor damages out-of-pocket instead of using your insurance.

Compare quotes: Don’t accept the first quote you get. Shop around and compare renters insurance rates from different insurers in Worcester to find the best deal.

Final thoughts

Renters in Worcester, MA should purchase renters insurance to protect their personal belongings, provide liability coverage, and cover additional living expenses if their rental becomes uninhabitable due to a covered event. Premiums may differ based on location, coverage amount and individual circumstances, but the peace of mind it offers is worth the investment. You can get an affordable policy that fits your budget by assessing your coverage needs, comparing quotes and taking advantage of available discounts.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Worcester for $40,000 personal property coverage, $300,000 liability coverage, and a $1000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.