Having renters insurance can help to replace your belongings and/or cover medical bills if a fire destroys your property, a burglar loots your apartment, or a if a guest is injured while at your home. We’ve done the research to give renters in Ohio the inside scoop.
Average Renters Insurance Cost in Ohio
On average, Ohio renters pay just $185 per year for rental insurance—or about $15 a month. That’s 1% less than the national average for renters insurance premiums. To put that into perspective– it would only take 23 hours working for minimum wage to cover your yearly premium.
Ohio Rental Insurance Coverage
In 2012, there were 103,421 burglary cases in Ohio. If you come home and your stuff has been stolen, how much do you think it would cost to replace everything? If you have a renters insurance policy, it can help cover those expenses along with damages and losses due to weather, fire, smoke, or water leaks. Renters insurance even provides medical and legal reimbursement if someone is hurt on your property and sues. Tally up everything you own, the thousands that legal and medical bills can add up to, and you’ll see how a renters insurance policy can pay for itself if you ever needed to file a claim.
Discounts for Ohio Renters
Renters insurance is already affordable, but there are still ways you can save, including:
- Bundling: Multi-policy agreements will give you a rate cut.
- Previous claims: Those who haven’t ever filed a claim will usually save more on premiums.
- Safety hardware: Smoke detectors, fire alarms, sprinklers, and security devices all add up to discounts.
- Higher deductibles: If you pay more for a deductible, you’ll save monthly.
Ohio Renting Stats
In Ohio, 33% of people rent. For those leasing a two-bedroom apartment, they spend about $735 per month on rent. Compared to an annual renters insurance premium of $185 in the Old Dominion State, it’s coverage you should elect to have.
Speak With an Insurance Expert
Call 855-462-2213 to speak to a licensed agent who can help answer any additional questions you may have. If you are ready to start shopping, those same agents can get you a free quote on renters insurance near you.