In many cases, if a fire in a neighboring apartment causes smoke damage, burglars loot your apartment, or someone gets hurt while visiting you, renters insurance will aid you in replacing belongings and covering medical and legal expenses. Our user-friendly guide breaks down the facts about Delaware renters insurance policies.
What is the average cost of renters insurance in Delaware?
The cost of renters insurance depends on a variety of factors, however, renters insurance provides full coverage at an affordable rate. In Delaware, the average price of an annual renters insurance policy is approximately $153. This low price means that if you work a minimum wage job, it would take only 19 hours to pay for the annual premium. That cost is also -18% less than the national average cost. If you were thinking about purchasing a renters insurance policy but thought it would cost too much, think again.
Delaware Rental Insurance Coverage
There are multiple types of coverages that can be purchased at affordable rates. But first, let’s discuss how important renters coverage can be in protecting you and your belongings.
A renters insurance policy can protect against weather-related damage from things such as fire, water damage, wind damage, as well as theft. In Delaware in 2012 alone, there were 7,371 burglary cases. If you think of all that is in your home clothing, furniture, dishes, computers and what it would cost to replace everything on your own, you’d realize the price tag would be in the thousands.
Renters insurance was created to help with that. Its coverage even extends to protect you from medical and legal bills if someone gets hurt on your property. You can’t stop the unexpected, but you can always plan for it.
How to Save With Renters Insurance Discounts
Things that can impact your renters insurance premium include: the area you live in, the things you own, claims history, and other policies from insurance companies you might currently have. Even though renters insurance is already very affordable, there are still some discounts you can qualify for, including:
Multi-Policy: Bundle auto or another insurance plan with renters insurance and save.
No Prior Claims: Save on your insurance bill if you have a clean claims record.
Safety Devices: Pay less if you install smoke detectors, anti-theft systems, or other safety devices.
Higher Deductibles: Lower your renters insurance premium by raising your deductible. Just know that the higher the deductible, the more you’ll have to spend out-of-pocket if you file a claim.
Facts About Delaware Renters
In Delaware, approximately 28% of residents are renters. These residents pay an average price of $1,096 per month for a two-bedroom rental, but only $153 a year for renters insurance.
If you consider the value of your possessions—and the value of the time and energy it would take to replace these items on your own—it is hard to argue against the benefits of getting a renters insurance policy.
Find Affordable Insurance for Renters in Delaware
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