If you choose replacement cost, you will be covered for the actual amount of money it would take to replace the items at today's prices. Actual cash value is a reflection of the current value of the items, taking into account the age and condition of the items. Once you've answered these questions, you are ready to meet with an agent and discuss the amount of coverage that would be right for you. To cover such losses, consider a floater, which provides the additional coverage needed. Bicycles generally are covered by renter's insurance.
Most insurance companies require separate policies for unrelated residents.
Confer with your insurance agent about your eligibility for a joint policy. If you purchase such a policy, make sure that the names of all apartment or townhouse residents are on the policy. A. Many insurance agents throughout Massachusetts handle renter's insurance. The choice of an agent is completely up to you. Get recommendations from your family and friends.