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.
Average Renters Insurance Cost in Utah
You may think renters insurance is expensive, but it’s 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.
Utah Rental Insurance Coverage
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, 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.
Additionally, some policies may include liability insurance 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.
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.
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 855-462-2213 to speak to one today.