Having a renters insurance policy is crucial in case you fall victim to fire, theft, or a guest is injured on your property. That’s because it helps protects you from legal and medical costs and in most cases, will replace your damaged or stolen belongings. We’ve done the research for you to help answer questions you might have about Arizona renters insurance.
Average Renters Insurance Cost in Virginia
On average, renters in Virginia pay $158 per year for rental insurance—which works out to just over $13 monthly. That’s 16% less than the national average for renters insurance premiums. Based on the minimum wage in Virginia, you would only have to clock in 22 hours to earn enough money for coverage for an entire year.
Take a look around your apartment. If you added up the cost of everything it may surprise you the net worth of what you own. If your possessions are lost in a fire, during a burglary, or other covered incident, you’ll be glad to have renters insurance to help pay for the cost of replacing.
Virginia Rental Insurance Coverage
In 2012 alone, Virginia had 29,511 burglary reported. Whether you’ve been a victim of burglary or not, there’s no denying the financial relief that renters insurance can provide in such a situation. In addition to helping pay to replace your stolen things, renters insurance also protects your belongings if they are damaged as a result of fire, smoke, or other covered event. Plus, if someone is injured in your rental, renters insurance may help pay for their medical expenses. In a perfect world you’d never end up in such a position, but in reality, you might. From the Chesapeake Bay to the Appalachian Mountains, our advice is the same—wherever you live in Virginia, you need the protection of renters insurance.
Save with Virginia Discounts
Even though renters insurance is already very affordable, there are discounts you can qualify for. When comparing companies, see if you are eligible for the following popular discounts:
- Multi-Policy: Bundle auto or another insurance plan with renters insurance and save.
- No Prior Claims: If you have never filed a renters insurance claim, you can save with this discount.
- 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 typical cost of a two-bedroom apartment rental is $1,097 per month in Virginia and 33% of the state’s residents rent. Comparatively, with the average yearly rental insurance premium being just $158 in the Old Dominion State, it’s coverage you shouldn’t turn down. If you are ready to buy or have more questions you need answered, speak with an expert insurance agent. Call 855-462-2213 .