Don’t wait until a fire breaks out in your kitchen, a water pipe bursts in your bathroom, or a guest is injured while visiting you to buy renters insurance. If you are a Utah renter, this guide was designed for you.
What is the Average Cost for Renters Insurance in Utah?
You may think renters insurance policies are expensive, but they are not. In fact, at just $145 per year, the average rental insurance premium in the Beehive State is more affordable than most states– it’s 22% less than what renters pay on average nationally. Think of it this way: based on the state minimum wage, you’d only have to work 20hours to pay for a year’s worth of insurance protection. When you add up the expense of replacing even a few of your personal belongings, it probably amounts to more than $145. Now imagine the cost if you had to replace all of your belongings. In comparison, renters insurance is worth every cent.
What Do Utah Renters Insurance Policies Cover?
In 2012, 12,943 burglaries were reported in Utah. If your rental is broken into, your landlord’s homeowners insurance won’t cover the cost of replacing your stolen items, but renters insurance can. With renters insurance coverage, you’ll also enjoy peace of mind knowing your belongings are protected if they’re damaged or destroyed by events such as a fire, water leak, or vandalism. Extra coverage is always helpful. Consider purchasing identity theft protection as well, which is offered by many renters insurance companies.
Additionally, some policies may include liability coverage that can help protect your assets if someone is injured in your apartment due to a fall, dog bite, or other covered event. Hopefully you never face any of these situations, but if you do, renters insurance will help you get back on your feet. In case of emergencies, you might want to consider purchasing more than just the minimum liability coverage offered. More coverage can help protect your personal property and valuable items, and could even help pay for your medical expenses.
Which Discounts Make Renters Insurance in Utah Even More Affordable?
Although already very affordable, there are a few discounts you should see if you are eligible to receive. They include:
- 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: Smoke detectors, sprinklers, anti-theft systems, and home monitoring systems can save you money.
- Higher Deductibles: If you opt into a plan with a higher deductible, you’ll have a lower payment amount every month. Watch out for this though. Your deductible is something you’re responsible for paying if you file a claim.
What are the Next Steps You Should Take?
The average cost of a two-bedroom rental in Utah is $813 and 30% of residents rent. With the average annual rental insurance premium just $145 in the Beehive State, there’s no reason to go without it. Licensed agents can help to make sure you are properly insured and that you get the best rate. Call [mapi-phone /] to speak to one today.
We all want the cheapest renters insurance rate. But, before making any final decisions on your insurance company, it is important to learn as much as you can about your local insurance providers, and the coverages they offer. Call your local insurance agent to clear up any questions that you might have. Questions to consider asking include, “What is the best coverage plan for me/my family/my situation?” “What are the minimum coverage requirements in my state and what form of coverage do you recommend?” “Do you guys offer any bundle discounts if I take out both my auto insurance and home insurance with you?” and “What is the average rate of insurance quotes you guys offer?”
Before making any big insurance decisions, use our free tool to compare renters insurance quotes near you. It’s simple, just plug in your zip code and we’ll do the rest!