Ohio Renters Insurance

Contributor, Benzinga

Did you know most of our readers prefer to work with Lemonade for their renters insurance needs?

They say Ohio is the heart of America. The state has seen some of the fastest-growing cities in the nation. With the change in the market, you could have decided to rent an apartment, condo or house. Consider protecting yourself and your property with an affordable renters insurance policy. Looking for renters insurance in Akron or Cincinnati? Here’s our guide to Ohio renters insurance.

Best Renters Insurance Providers in Ohio

Now that you have a good idea on how renters insurance works in the Buckeye State, let’s focus on some of the best companies for inexpensive renters insurance.

1. Lemonade

Did you know most of our readers prefer to work with Lemonade for their renters insurance needs?

Lemonade is a tech-friendly renters insurance provider that tries to make starting a new policy as smooth as ordering a Lyft. The company’s innovation and strong app interface make it a perfect choice for college students.

Lemonade has a big heart and donates part of its leftover profits to social causes and charities. The company features a unique model that centers on a peer-to-peer structure that benefits the end-user.

Lemonade’s special model passes savings 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 zap through a quote in less than 2 minutes.

You’ll be choosing a company with strong financial stability that’s inexpensive, tech-savvy and socially responsible.

Get Protection Now

Lemonade offers fast, easy coverage through their seamless application and claims process. Get personal property and liability protection with Lemonade Renters Insurance.

get a quote securely through Lemonade’s website
Best For
Best For Seamless, 100% digital sign-up
N/A
1 Minute Review

Lemonade Insurance Company is a newer player when it comes to renters insurance. It’s become a popular choice because it uses technology to simplify buying insurance and getting claims paid. 

You can get the full Lemonade experience using its mobile app or website. To buy a policy, Lemonade walks you through a short, easy application. During the application, you can determine your deductible and adjust for areas that need more coverage. For example, if you have expensive electronics, you may want to increase your coverage above the default to ensure you can get them replaced if a worst-case scenario occurs. 

Another feature that sets Lemonade apart is its Giveback program. When you get a Lemonade policy, you choose a nonprofit to support. There are many charities to choose from, including the American Red Cross, UNICEF, Teach For America, the ACLU and The Trevor Project. Out of the premiums you pay each month, Lemonade pays its expenses and pays claims. Any premiums left go toward your charity of choice. Lemonade donated over $2 million in 2021 through its Giveback program. 

Lemonade is best for those who are comfortable communicating and filing claims through the app or website. If you have questions for Lemonade, you can get in touch through the app or by clicking the “Help” button on the bottom of the website, by emailing them directly at help@lemonade.com, or giving them a call. 

Lemonade also isn’t available in all states. Its renters insurance is available in Arizona, Arkansas, California, Colorado, Connecticut, District Of Columbia, Florida, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, Tennessee, Texas, Virginia, Washington, and Wisconsin.

Learn more about Lemonade renters insurance in this review. 

Best For
  • Renters who want a simple application process
  • Renters comfortable with using apps
  • Renters who want to support charities through the businesses they work with
Pros
  • Easy application that you can complete using the app
  • Fast, hassle-free claims process
  • Supports charities
Cons
  • Not available in all states

2. Erie Insurance

Erie Insurance received a 5-star overall satisfaction rating from J.D. Power. It has comprehensive renters insurance plans at competitive prices.

The company is known for its convenient shopping experience. Erie gives its customers a face to go with the name. The company allows its over 12,000 local independent agents to serve you with a handshake and a smile. Erie Insurance’s exceptional customer service leads the competition.

If you’re looking for a smart choice in Ohio, Erie should be on the top of your list.

3. State Farm

Are you most concerned about finding the low-cost leader for your renters insurance? It’s time to consider State Farm. The company offers some of the cheapest policies in all of Ohio.

Are you thinking you won’t run into any issues but still want the peace of mind? State Farm can help you cut your monthly costs when you choose a high deductible. Of course, this will mean you’ll have a higher out-of-pocket expense if you have to file a claim, but it’s a good plan for people who are getting insurance primarily to fulfill the landlord’s request.

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Customers who have existing policies with State Farm
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1 Minute Review

State Farm offers a selection of home insurance products designed to meet the needs of most customers. All the basic policy types are covered by this national insurer, with coverage options that are easy for consumers to understand. Some less common types of insurance are not well represented and, as always, customers are encouraged to get quotes from multiple insurers.

Best For
  • Customers who have existing policies with State Farm
Pros
  • Website provides helpful information
  • A nationwide network of over 18,000 agents
  • Bundling discounts
Cons
  • Premiums may be higher than some competitors

4. The Hartford

The Hartford aims its policies at Ohioans who are over 50 and qualify for AARP. It understands that many seniors value excellent customer service and a fair price.

If you’re planning to bundle your car insurance, it’s a bonus because The Hartford received top awards from J.D. Power in its industry rankings. The bundling options do not stop there: You can get more savings if you add auto, motorcycle or RV insurance.

Since The Hartford only markets to the senior population, it understands that segment of renters better than any other insurance company.

Best For
Excellent claims process
N/A
1 Minute Review

The Hartford is one of the most trusted providers of various types of insurance, including property, casualty and business insurance. Homeowners and rental property owners alike will find solid coverage backed by strong financial ratings.

Best For
  • Excellent claims process
Pros
  • Financially strong
  • Ranked No. 1 by JD Power and Associates for claims paying
Cons
  • Slower than average quote time

What is Renters Insurance?

Renter’s insurance helps you with the financial costs of repairing or replacing your personal property in your rented dwelling. It can also provide liability protection for incidents and accidents that occur at your residence.

Renters Insurance in Ohio Overview

Renters insurance is a good buy if you’re looking to protect yourself and your possessions.

Renters insurance, unlike car insurance, isn’t legally required by the state to rent a place to live. But renters insurance offers unique coverages that are surprisingly affordable when compared to other insurance plans:

  • Your renters insurance policy will work similarly to a homeowners insurance policy.
  • You’ll pay your premium monthly to the insurance company to keep current coverage once you start the policy.
  • You can expect to pay to replace or repair any damaged belongings when you file a claim.

The insurance company will reimburse you up to the limits of your coverage. Your renters insurance policy will most likely have a deductible which is an amount you must pay before the insurance picks up the remainder for a covered expense.

Renters insurance is often much more affordable than homeowners insurance. This stands to reason — while your homeowners insurance covers the physical structure, renters insurance does not cover the apartment or unit itself. Your landlord is responsible for protecting their property with a landlord insurance policy, but this doesn’t apply to you or your personal belongings.

Average Annual Renters Insurance Premium in Ohio

Renters insurance is one of the most affordable types of insurance you can buy. Insurance companies also often offer many discounts to lower your payment. 

Look for these common discounts:

  • Safety discount: Have you picked up a new security system, fire alarm or smoke detector? You might qualify for a deal with your insurer.
  • Payment option discount: Most insurance companies offer a price break when you pay your policy in full. If that choice isn’t on the table, lower your bill by choosing auto-pay or go with paperless statements.
  • Multi-policy discount: Many insurers join renters (or homeowners) insurance and car insurance together like peanut butter and jelly. It’s common to see a 10%–15% discount across both policies. But don’t stop the bundling at your car insurance. You can add life insurance, motorcycle insurance or business insurance.

What Does Renters Insurance Cover?

You can expect your renters insurance policy to include 3 types of protection:

  • Personal property coverage: Personal property coverage pays to replace or repair your possessions up to the coverage limits if they’re damaged by a covered peril. This coverage protects electronics, clothing, furniture and other types of belongings. Keep in mind personal property coverage does not cover your vehicle — that’s taken care of by your comprehensive car insurance.
  • Additional living expenses coverage: What happens if your home is damaged to where it’s unlivable? That’s where additional living expenses coverage can help. It pays the cost of finding a temporary place to stay while your space is being renovated. Transportation expenses, hotel bills and the cost of food are all expenses this protection will cover.
  • Personal liability coverage: Personal liability coverage supplies legal protection and pays for court-ordered judgments up to the policy limit if someone is injured in your home. This coverage also protects you if you accidentally damage someone else’s property.

Most Affordable Cities for Renters Insurance Ohio

Here’s the list of most affordable Ohio cities for renters insurance:

  1. Youngstown
  2. East Liverpool
  3. East Cleveland
  4. Warren
  5. Campbell

Most Expensive Cities for Renters Insurance Ohio

If you live in one of these cities, expect to pay more for renters insurance:

  1. Indian Hill
  2. New Albany
  3. Pepper Pike
  4. Dublin
  5. Powell

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 got the best deal for your family? The best strategy is to get several quotes before you make your final decision.

Like car and home insurance, you can expect each company to use a different calculation when they determine your premium amount. Start with 4–5 quotes to make sure you’re getting a competitive price for the features important to you.

Shop around — the policy you find may leave you pleasantly surprised.

Get Protection Now

Lemonade offers fast, easy coverage through their seamless application and claims process. Get personal property and liability protection with Lemonade Renters Insurance.