Renters insurance protects you from financial loss if your personal belongings are damaged or destroyed or you’re held legally responsible for a rental-related incident. When choosing a provider, you should consider how much coverage you need and the company’s reputation for claims handling. Our partners at ConsumerAffairs researched the best renters insurance in Cincinnati so you purchase a policy confidently.
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If you’re among the 36 percent of households in Cincinnati that rent, it’s possible you’ve overlooked or never heard of renters insurance. Even if the possibility of a fire or theft or being sued for an accident at your apartment or rental home seems far-fetched, you should strongly think about purchasing a policy.
The standard renters insurance policy includes these coverages:
Personal property: If your personal property is damaged or stolen by a covered event, renters insurance will kick in after you meet a deductible, typically between $500 - $1,000. The insurance company will compensate you for either the actual cash value of the item (which includes depreciation) or the replacement value (the full replacement cost). The most common renters insurance claims are for fire, theft and vandalism.
Liability: If you are found legally responsible for an unintentional injury at your residence or if you damage someone else’s property, renters insurance will cover medical bills, repair costs and legal fees.
Additional living expenses: If your rental becomes uninhabitable after a covered event, renters insurance will pay for temporary living expenses (e.g., hotel bills, increased food costs) that exceed what you normally pay.
Renters insurance can also apply to your possessions if they are stolen from your car or while you are on vacation, and it can cover items you borrow from other people. Some policies insure you for credit card fraud or check forgery.
Keep in mind that renters insurance doesn’t cover everything. Floods typically aren’t a covered risk, so if you live within the Ohio River flood plain you may need a separate policy.
How much is renters insurance in Cincinnati?
Renters insurance is affordable. The average cost of renters insurance in Cincinnati is around $15 per month. There are a number of discounts you may qualify for, including for holding multiple policies (e.g., renters and auto), having in-home safety features, using auto-pay and being claims-free.
Your exact premium will be a function of where you live, how much coverage you decide to purchase and the deductible. To choose the coverage limit for personal property, take an inventory of your belongings. Most renters get $20,000 - $30,000 worth of coverage. A common liability limit is $100,000.
Before you sign up for renters insurance in Cincinnati, read over a policy closely so you understand what your safety net looks like. That way, if you have to make a claim, there won’t be any surprises.
Policygenius is an online independent insurance broker that makes it easy to compare renters insurance policies and buy coverage. You don’t have to give up personal information to get quotes, and licensed experts are standing by to offer advice. Cincinnati consumers say they have found affordable insurance from Policygenius, which has helped over 4.5 million people across the U.S. shop for coverage.
EverQuote, the largest online insurance marketplace in the country, has provided over 35 million insurance quotes for shoppers. Fill out a simple online form, and top insurers will contact you to go over renters insurance policies in Cincinnati. Customers like how fast the process is, but some say they have been overwhelmed by offers.
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Our partners independently research companies, and use editorial discretion to award companies with special recognition (i.e. Best Value) based on their staff’s judgement or subject matter expert’s judgement. Our partners do this to help you identify companies that will meet your specific buying needs, and do not receive compensation for these designations.