Ohio is said to be the heart of America. The state has seen some of the fastest growing cities in the country. With the evolution of the market, you could have decided to rent an apartment, a condo or a house. Consider protecting yourself and your property with an affordable rental insurance policy. Are you looking for tenant insurance in Akron or Cincinnati? Here’s our guide to Ohio tenant insurance.
The Best Tenant Insurance in Ohio
What is tenant insurance?
Rental insurance helps you cover the financial costs of repairing or replacing your personal belongings in your rented accommodation. It can also provide liability protection for incidents and accidents that occur in your home.
Compare tenant insurance
Note: Not all providers may be available in all states. Your personalized quote will depend on your unique user profile.
Best Home Insurance Providers in Ohio
Now that you have a good idea of ââhow tenant insurance works in Buckeye State, let’s focus on some of the best cheap tenant insurance companies.
1. Best overall: Erie Insurance
Erie Insurance has received an overall satisfaction rating of 5 stars from JD Power. It offers comprehensive rental insurance plans at competitive prices.
The company is known for its convenient shopping experience. Erie gives her clients a face that goes with the name. The company allows its more than 12,000 local independent agents to serve you with a handshake and a smile. Erie Insurance’s exceptional customer service dominates the competition.
If you’re looking for a smart choice in Ohio, Erie should be at the top of your list.
- The website provides useful information
- A national network of more than 18,000 agents
- Large discount on auto policies for customers who also purchase life insurance
- Premiums may be higher than some competitors
- Less flexibility in terms of mandate
2. Ohio’s cheapest tenant insurance: State Farm
Do you think you won’t run into any issues but still want peace of mind? State Farm can help you lower your monthly expenses when you choose a high deductible. Of course, that means you’ll have a higher outlay if you need to file a claim, but it’s a good plan for people who buy insurance primarily to meet homeowner demand.
- Easy app that you can complete using the app
- Fast and hassle-free claims process
- Supports charities
- Not available in all states
- Customer service is only available through the app or website
3. Ideal for well-rated insurance: lemonade
Lemonade is a user-friendly tenant insurance provider that tries to make starting a new policy as easy as ordering a Lyft. The company’s innovation and strong application interface make it a perfect choice for students.
Lemonade has a big heart and donates part of its profits to social causes and charities. The company offers a unique model centered on a peer-to-peer structure that benefits the end user.
Lemonade’s special model passes the savings on to the customer. Affordable prices help students on tight budgets, and the app offers a fast process that won’t interrupt study sessions. You can go through a quote in less than 2 minutes.
Lemonade allows you to earn discounts for your home security devices. You will choose a company with solid financial stability that is inexpensive, technologically advanced and socially responsible.
Business owners policy
- Over 200 years of insurance experience
- Provides online quotes
- Has a strong financial rating
- Offers a wide range of commercial insurance products
- Pricing is entirely based on quotes
4. Ideal for seniors: the Hartford
The Hartford is targeting its policies at Ohioans who are over 50 and qualify for the AARP. He understands that many seniors value great customer service and a fair price.
If you are considering bundling your auto insurance, this is a bonus as The Hartford has received the top awards from JD Power in its industry ranking. The bundling options don’t end there – you can save more money if you add auto, motorcycle, or RV insurance.
Since The Hartford only markets to the senior population, it understands this segment of renters better than any other insurance company.
5. Ideal for military personnel: USAA
Are you an active member of the military, a veteran, or an immediate family member of those who have served? You must be in one of these 3 groups to apply, and USAA has some unique offers for you.
USAA tenant insurance policies have features that other companies charge you extra for. The company’s standard policy provides protection against floods and earthquakes. You have to pay an additional premium to get the same protection almost everywhere else.
USAA adapts to the needs of military families and can help you find the police payment plan that best fits a deployment or relocation.
Overview of tenant insurance in Ohio
Renters insurance is a good buy if you are looking to protect yourself and your belongings.
Renters insurance, unlike auto insurance, is not legally required by the state to rent a home. But renters insurance offers unique coverages that are surprisingly affordable compared to other insurance plans:
- Your home insurance policy will work the same as a home insurance policy.
- You will pay your premium monthly to the insurance company to maintain current coverage after you purchase the policy.
- You can expect to pay to replace or repair any damaged property when you file a claim.
The insurance company will reimburse you within the limit of your coverage. Your renters insurance policy will most likely have a deductible which is an amount you must pay before the insurance takes the rest for a covered expense.
Home insurance is often much more affordable than home insurance. This goes without saying – while your home insurance covers the physical structure, tenant insurance does not cover the apartment or the unit itself. Your landlord is responsible for protecting their property with a homeowner’s insurance policy, but this does not apply to you or your belongings.
Average annual insurance premium for tenants in Ohio
Renter insurance is one of the most affordable insurance you can buy. Insurance companies also often offer lots of discounts to lower your payment.
Look for these common discounts:
- Security discount: Have you bought a new security system, fire alarm or smoke detector? You may be eligible for an agreement with your insurer.
- Discount on payment option: Most insurance companies offer a discount when you pay off your policy in full. If that choice is not on the table, reduce your bill by choosing automatic payment or go for paperless statements.
- Multi-policy discount: Many insurers combine renters (or homeowners) insurance with auto insurance, such as peanut butter and jelly. It is common to see a 10-15% discount on both policies. But don’t stop bundling your auto insurance. You can add life insurance, motorcycle insurance, or business insurance.
What does tenant insurance cover?
You can expect your tenant insurance policy to include 3 types of protection:
- Personal Property Coverage: Personal property coverage pays to replace or repair your property up to the limits of coverage if it is damaged by a covered risk. This coverage protects electronics, clothing, furniture and other types of property. Keep in mind that personal property coverage doesn’t cover your vehicle – your comprehensive auto insurance does it.
- Additional cover for living expenses: What if your house is damaged where it is uninhabitable? This is where additional living expense coverage can help. It pays the cost of finding temporary accommodation while your space is being renovated. Transportation costs, hotel bills, and the cost of food are all expenses covered by this protection.
- Personal liability cover: Personal liability insurance provides legal protection and pays for court-ordered judgments up to the police limit if someone is injured in your home. This coverage also protects you if you accidentally damage someone else’s property.
The Most Affordable Cities For Renters Ohio Insurance
Here is the list of the most affordable cities in Ohio for tenant insurance:
- Liverpool East
- Cleveland East
The Most Expensive Cities for Ohio Renter Insurance
If you live in one of these cities, expect to pay more for tenant insurance:
- Indian hill
- New Albania
- Pepper Pike
Protect yourself and your belongings
We all want to save as much as possible when we buy insurance. But how do you know if you have the best deal for your family? The best strategy is to get multiple quotes before you make your final decision.
As with auto and home insurance, you can expect each company to use a different calculation when determining your premium amount. Start with 4-5 quotes to ensure you get a competitive price for the features that are important to you.
Shop around – the politics you find can leave you pleasantly surprised.
Toggle is not your current insurance company. In fact, it has changed the landscape of tenant insurance. Example: you have full control every step of the way. Toggle makes insurance easier to understand (and offers total flexibility!) And guess what? Toggle can even keep up with you and your insanely busy and ever-changing life.