Renters Insurance

Renters Insurance

#1 Renters Insurance In Ohio

Your rented space should feel like home. Unfortunately, the landlord’s insurance policy might not cover everything in your rented house. How can you replace your belongings in case of theft or damages caused by fire or water? Whether you have just rented your first apartment, leased a loft, or live in a bungalow, you require a dependable renters insurance plan.

What Our Ohio Renters Insurance Shields You Against

At InsurA Insurance Agency, we know all the primary concerns that come with renting an apartment or a home. Our renters insurance plan protects you from numerous dangers and threats that may occur in a rented unit.

Once you buy the renters insurance policy, you will have covered yourself against several mishaps, like theft, vandalism, water harm, electrical harm, lightning, falling objects, smoke, riots, and many other risks.

There are different potential risks that can damage your valuable belongings, meaning that you should shield them against such losses. Renters insurance is also extremely affordable, compared to replacing all your belongings out of pocket once they are damaged or lost.

Renters Insurance FAQs

Here are some of the most frequently asked questions about renters insurance in Ohio.

Is renters insurance required?

Renters insurance is not required in Ohio or in any other U.S. state, but it is considered a best practice to have one. Some landlords might require their tenants to secure insurance for their own protection as a preventive measure in case a fire breaks out or a massive storm damages the property. In addition, not having a renters insurance policy opens you up to risks of financial losses and lawsuits.

What does renters insurance cover in Ohio?

The basic coverage for Ohio renters insurance is the same with the other locations, and this will typically include the following:

  • Personal property coverage against theft, fire, vandalism, water damage, and similar damages
  • Liability coverage against accidents at the rented space
  • Loss of use coverage from being unable to live in or profit from a rented unit
  • Medical payments, for if an accident occurs in your rented space (applies to persons visiting, not the actual occupants)
  • Additional coverage options, like medical or pet insurance

What does it NOT cover?

Not all property will be covered under renters insurance, such as your car (which is covered by auto insurance) and your rented unit’s structure (which should be covered by the landlord’s property insurance). High-value personal items like jewelry, artwork, and musical instruments might be subjected to dollar limits, depending on your renters policy.

The final list of items covered will come after you have spoken to your insurance provider and agreed on what to include and exclude in your plan.

How much does renters insurance cost?

The cost of renters insurance depends on how much of your property you want to be covered and any foreseen liability. According to NerdWallet, the average cost of renters insurance in the U.S. is $168 annually, based on the profile of a 30-year-old renter. This amount could already cover around $30,000 in rental property damage, $100,000 in liability coverage, and a renters deductible of $500.

If not already included, liability protection is something you might want to add to your insurance, especially if you have pets or frequently have guests over. In this way, you are protected from medical expenses and other incidentals in case your pet does any damage or somebody has an accident in your premises.

What should I look for in a renters insurance plan?

You want a renters insurance policy that provides the right protection at a premium you can afford. Thus, in deciding which plan to purchase, consider the following:

  • What the renters coverage includes
  • What it does not cover
  • How much it costs, and if you can afford it now and in the future
  • The plan’s limits
  • How long it will take for the insurance provider to reimburse claims
  • The trustworthiness and reputation of your insurer
  • Any exit clauses, in case you want to change or terminate later for any reason

Do students living in dorms need renters insurance?

Yes. Students, who likely have limited income sources, will need renters insurance to protect themselves from any damage, losses, or lawsuits. That is unless their contract explicitly states that they will have no liability for any damages on furniture, facilities, or any incident that might happen in the premises. In this case, it’s best to thoroughly go over the tenant contract and dorm handbook, just to be sure. Insurance companies will have affordable renters insurance policy options for students.

Maximize Your Renters Insurance Claims With InsurA

At InsurA Insurance Agency, we ensure that all your valuables are covered. Once you choose the required amount of coverage, we find the right package that fits your insurance needs and budget.

Contact us or visit our Reynoldsburg, Ohio, offices to find the right insurance product for all your valuables and property. We will provide all the additional information regarding our renters insurance policies to help you make an informed choice. Our experienced agents can design a customized and reliable policy that works best for you.