Do Renters Need Additional Coverage for High-Value Items?

Renting a home or apartment comes with many responsibilities, and insuring your personal belongings is one of them. While a standard renters insurance policy offers valuable coverage, it’s important to understand its limitations, especially if you own high-value items like jewelry or collectibles.

At Educators Insurance Agency, we help our clients make informed decisions about their coverage so they can feel confident that their prized possessions are properly covered.

Understanding Standard Renters Insurance Limits

Most renters insurance policies include personal property coverage, which helps pay to repair or replace your belongings if they’re damaged or stolen due to covered events like fire, theft or certain types of water damage.

However, these policies typically only pay up to certain amounts, including set limits on how much they’ll pay for specific categories of high-value items. For example, there may be a cap on jewelry or electronics, sometimes as low as a few thousand dollars, regardless of the item’s actual value.

When Might You Need Additional Coverage?

If you own items that exceed the standard policy limits, you may want to consider extra coverage. Common high-value belongings that often require additional coverage include:

• Fine jewelry and watches
• High-end electronics (laptops, cameras, sound systems)
• Art, antiques or collectibles
• Designer handbags or clothing
• Musical instruments

Without the right coverage, you could be left paying out of pocket to replace these items after a loss.

How to Cover Your Valuables

To help ensure your high-value items are fully covered, you may want to add an insurance rider or schedule personal property on your renters policy. This allows you to list specific items and insure them for their appraised value, often with broader coverage against loss or damage. Our team can help you review your current policy, assess your needs and explore options for additional coverage tailored to Massachusetts renters.

Contact us today to discuss your coverage options and get peace of mind knowing your most important belongings are secure.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.