Renting a home or apartment in Medway, Massachusetts, offers flexibility, charm, and small-town convenience with easy access to Greater Boston, Rhode Island and the rest of New England.

Whether you’re living in a modern apartment near Medway Commons or a historic home by Choate Park, it’s essential to protect your personal belongings, potential liability and financial well-being with renters insurance.

While your landlord’s insurance covers the building structure, it doesn’t safeguard your possessions or shield you from liability claims. Even in a quiet, close-knit community like Medway, unexpected events—like fire, theft, or burst pipes—can happen. Renters insurance provides affordable protection and peace of mind, especially important in Norfolk County, where average premiums are highly affordable. With Medway’s blend of historic charm, multifamily units, and new developments, having coverage tailored to your living situation is a smart, practical choice.

Why Renters Insurance Is Essential

Renters insurance provides a safety net for unexpected events, ensuring you’re not left facing significant out-of-pocket expenses. Here are a few powerful facts for Medway renters and across the state.

  1. The average renters insurance policy costs about $21/month in Norfolk county, or just $250 per year. (Source: NAIC – National Association of Insurance Commissioners)
  2. Only 57% of renters have insurance, compared to 85% of homeowners—despite renters facing similar risks. (Source: Insurance Information Institute)
  3. The average claim is over $5,000 for renters insurance —a significant cost to pay out-of-pocket if not insured. (Source: Insurance Information Institute)
  4. More than 1 million home burglaries occur annually in the U.S., many affecting renters. (Source: FBI Crime Statistics)
  5. Tenants are legally responsible for damage they cause, even if it’s accidental—like overflowing a tub or starting a kitchen fire. (Source: LegalZoom)

Renters Insurance Coverage

Here’s what Renters Insurance typically covers:

Personal Property Protection

In the event of perils like fire, theft, or water damage, renters insurance helps repair or replace your belongings. Commonly covered scenarios include:

  • Fire and smoke damage
  • Theft or burglary
  • Water damage from plumbing issues
  • Damage from falling objects or structural collapse
  • Your possessions in case your car is broken into

It’s important to note that standard renters insurance doesn’t cover flood damage; a separate flood insurance policy is necessary for such protection.

Liability Coverage

If someone is injured in your rental unit or you accidentally damage someone else’s property, renters insurance can cover medical expenses, legal fees, and potential settlements. This coverage extends to incidents both inside and outside your home.

Cost and Potential Discounts

Renters insurance is generally affordable, and you might qualify for discounts that make it even more cost-effective:

  • Bundling Policies: Combining renters insurance with auto insurance can lead to savings.
  • Safety Features: Having smoke detectors, fire alarms, or security systems may qualify you for additional discounts.

Get Your Renters Insurance from Murphy Insurance Agency

Located at 133 Milford Street, Murphy Insurance has been serving the Medway community since 2009. We offer personalized renters insurance policies and can assist you in finding the right coverage.

Medway OfficeMurphy Insurance Agency
133 Milford Street
Medway, MA 02053
Phone 508 422 9277
Hours: Monday – Thursday, 8:30 am to 4:30 pm, Friday 8:30 am to 4:00 pm

📝 Getting Started

Securing renters insurance is a straightforward process:

  1. Assess Your Needs: Create an Inventory of your belongings to determine the amount of coverage required.
  2. Choose Replacement Value: Personal items depreciate fast, and you’ll generally have to buy new ones. For a few extra dollars, you should make sure to choose “replacement value,” not “actual value.”
  3. Compare Quotes: Reach out to local agencies like Murphy Insurance to get personalized quotes.
  4. Review Policy Details: Understand the coverage limits, deductibles, and any exclusions in the policy. We recommend at least $500,000 in liability coverage. Be sure you can afford the deductible you choose.
  5. Get Medical Payment Protection: This is important if someone is injured at your home and needs to go to the emergency room. This is “no-fault” coverage, and it pays out without having to go to court to determine fault. It can avoid a messy situation if a friend is injured at your home to help maintain your friendships without hard feelings.

For more information, you can request a renters insurance quote online or contact Murphy Insurance Agency at our Medway office at 508-422-9277.

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Renters Insurance

Renters Insurance is a policy designed to protect individuals renting a home or apartment. While the landlord’s property insurance typically covers the physical structure of the building, it does not cover the tenant’s personal belongings or liability within the rented space. Renters need to purchase their own policy for their protection. Renters insurance is relatively inexpensive and gives you substantial coverage. Plus, you may save money on your car insurance, which means having this vital protection will cost you even less.