Best Renters Insurance in Ohio (2020)

Ohio Home Adobe

Find out which companies offer the best renters insurance in Ohio and learn about each provider’s plans, coverage, and pricing.

An Ohio renters insurance policy saves you money by covering the cost of items damaged due to an unexpected event, like a fire or hailstorm. To help you find the best renters insurance policy, the This Old House reviews team wrote an in-depth review on renters insurance in the Buckeye State.

Best Renters Insurance Companies in Ohio

To determine which renters insurance companies provide the best protection, our team looked at each provider’s coverage options, prices, customer service, discounts, and more.

1. Liberty Mutual

Liberty Mutual provides some of the most affordable renters insurance coverage, with plans starting out at just $5 per month. Liberty is an experienced insurance provider with over 105 years of experience and offers areas of coverage like personal property, loss of use, liability, and medical payments to others.

For more comprehensive coverage, Liberty Mutual offers optional coverage in these additional areas:

  • Earthquakes—Earthquake coverage is an optional add-on that’s recommended for renters in areas that are susceptible to earthquake damage. Coverage includes aftershocks that occur 360 hours following the initial earthquake.
  • Identity theft—This coverage pays for the cost of lost wages, expenses, and personal assistance after experiencing identity theft.
  • Jewelry—Requiring no deductible or upfront appraisal, this optional coverage replaces your stolen or lost jewelry.

Here are some additional benefits of a policy with Liberty Mutual:

  • Discounts for customers who purchase a policy online, are claims-free, and have multiple Liberty policies
  • Claims department that’s open 24/7
  • Five different deductibles

2. Nationwide

Nationwide provides some of the most comprehensive renters insurance coverage in the industry. In addition to industry-standard personal property, loss of use, liability, and medical payments to others coverage, Nationwide includes ordinance or law, building additions and alterations, and credit card coverage.

Here’s how Nationwide’s additional coverage protects you:

  • Ordinance or law—This coverage pays for the cost of bringing your home up to code, which could be needed after an event damages the home or a technician spots a code violation.
  • Building additions and alterations—For small changes done to your rental, this coverage will pay for damages associated with any changes.
  • Credit card coverage—Credit card coverage pays for a certain amount of unauthorized charges to your credit card or bank account.

When you purchase a renters insurance policy from Nationwide, you’ll enjoy the following benefits:

  • No limit on personal property coverage
  • Discount on policy when you bundle renters and auto insurance
  • Coverage on eight natural disasters and events like fire, theft, and vandalism

3. State Farm

State Farm provides customers with over five unique additional coverages that can be purchased alongside traditional coverage. While providing optional coverage, State Farm’s most basic plan covers three main events including accidents, weather impacts, and malicious mischief.

For customers who want more comprehensive coverage, State Farm offers the following optional coverage add-ons:

  • Earthquake damage
  • Computers
  • Waterbeds
  • Additional business property
  • Additional liability coverage
  • Jewelry
  • Incidental business liability
  • Identity restoration

Here are some additional benefits that State Farm customers enjoy:

  • Competitive premiums in line or below the national average
  • Discounts for bundling renters insurance with car insurance and having safety features like a home security system
  • No limit on personal property and loss of use coverage

Ohio Renters Insurance Coverage

An Ohio renters insurance policy typically provides the following coverage:

  • Personal property—This coverage protects your personal belongings if they’re damaged because of an unexpected event inside your home. To determine the amount of coverage needed, take inventory of the value of your items before signing up for a policy.
  • Medical payments to others—If someone is injured inside of your home, this coverage pays for their medical bills up to the limit you selected.
  • Liability—If you cause damage to another person or their property, liability coverage protects you from paying for the expenses out of pocket.
  • Loss of use—Loss of use coverage pays for expenses like food and a hotel room if your rental property is deemed uninhabitable after damage from a covered event.
  • Endorsements—Endorsements are additional coverage options you select to supplement your coverage. Popular endorsements include pet damage, earthquake damage, and identity theft.

How Much Does a Renters Insurance Policy Cost in Ohio?

The average cost of renters insurance in Ohio was $175 for the year in 2017, or about $14.60 per month, according to the Insurance Information Institute. That was lower than the national average of $180 per year. Ohio ranked 22nd out of 50 states when ranked from the most expensive to least expensive states for renters insurance policies.

Factors to Consider Before Buying Renters Insurance

Consider these factors when deciding which renters insurance company is best for you and your home:

  • Discounts—Many insurance companies offer renters discounts on their monthly renters insurance rate. Typical discounts include bundling renters and auto insurance and having safety features in the home, like a sprinkler or security system.
  • Weather—Ohio can experience cold winters that bring large amounts of snow and ice. Before purchasing a policy, ensure that your renters insurance policy covers events like frozen pipes and damaged roofs that are caused by the colder weather.
  • Personal information—Personal information is a contributing factor to the price of your renters insurance. If you have little renting experience or have a low credit score, you may have a more expensive plan.
  • Landlord requirements—Before signing up for a policy, make sure your plan meets the landlord insurance requirements for the rental property. Many landlords require a minimum amount of liability coverage, so make sure you purchase the required amount of protection.

Compare Renters Insurance Coverage Options

If you’re not sure which renters insurance policy is best for you, compare the providers below.

Our Conclusion

If you live in Ohio, we recommend Liberty Mutual, Nationwide, and State Farm for your renters insurance policy because of their flexible and customizable coverage plans. Before buying a policy, consider getting a renters insurance quote from all three companies to see which one is the best for you and your family.

Frequently Asked Questions About Renters Insurance in Ohio

How much renters insurance do I need?

To determine how much renters insurance you need, take stock of your belongings and their value. From there, you can see how much personal property coverage you should purchase. Additionally, some landlords require a specific amount of coverage. For example, the typical amount of liability coverage landlords require is $100,000.

Does everyone on a lease need renters insurance?

If you’re renting a home or apartment, you’re not legally obligated to have renters insurance, although your landlord can require it. If they do, everyone in the rental unit must have renters insurance. Note: One person’s policy won’t cover all tenants in the same unite unless they’re included in the policy.

How is renters insurance different from homeowners insurance?

Homeowners insurance protects your belongings and the physical structure of your house. Renters insurance provides coverage for liability and your personal belongings.

To share feedback or ask a question about this article, send a note to our Reviews team at reviews@thisoldhousereviews.com.

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