Find the Best Renters Insurance in Cleveland, OH

How to choose rental insurance in Cleveland

About 37 percent of households in Cleveland rent. Only about half have renters insurance.

Renters insurance protects you from financial loss if a covered event causes loss of personal property. It also includes liability coverage if you are found legally responsible for an injury at home or if you damage someone else’s property. Renters insurance also pays for additional living expenses if a covered event makes your home uninhabitable.

The most common renters insurance claims are made after fires, theft and vandalism. Other events, or perils, that are covered usually include:

• Smoke
• Lightning
• Windstorms and hail
• Explosions or damages from an aircraft or vehicle
• Falling objects
• Weight of snow, ice or sleet
• Water damage

Before purchasing renters insurance in Cleveland, you should take several steps. Make an inventory of your belongings to determine how much personal property coverage you need, and think about how much liability coverage is necessary to protect your assets. Most renters choose a personal property coverage limit between $20,000 - $40,000 and $100,000 in liability coverage.

You also need to decide if you want personal property coverage that pays out replacement costs (the full amount required to buy a new item) or actual cash value (the value of the item at the time of loss, including depreciation). A policy with replacement cost coverage will cost more.

Don’t forget to ask the property manager if the property has special renters insurance requirements, like for coverage amounts or naming an additional insured party.

How much does renters insurance in Cleveland cost?

Renters insurance is affordable. The average monthly premium for renters insurance in Cleveland is $12 - $17.

The amount you pay is based largely on the coverage you select, the deductible amount, your claims history and the area and property where you live. Renters insurance is slightly more expensive closer to downtown than it is in popular suburbs such as Strongsville, Beachwood, Rocky River and North Ridgeville.

Compare quotes from several companies before signing up for renters insurance in Cleveland, reading over the policies closely so there won’t be any surprises. If you have high-value possessions like jewelry or art, make sure to ask about scheduled personal property coverage.