The Cheapest Ohio Renters Insurance Companies 2020
The Buckeye State has excellent renters insurance options, with the average costs being $166 annually. Along with costs, there are other factors you’ll want to examine when buying a policy.
The first is how much renters insurance do you need? When you buy a policy, you’ll have the option to customize how much coverage you want for your personal property. If your apartment catches on fire or suffers water damage, this is the maximum amount your insurance will reimburse you for these damaged items.
If you have expensive tastes such as high-end art, collectibles or jewelry, you’ll want to have more coverage. Conversely, if you have a few expensive items, you can opt for a less expensive option.
Your provider is also a key consideration. By examining a carrier’s reputation with how it treats its customers, its prices and its financial strength, you can get insight into whether they’re the right fit for you.
Best rental insurance companies in Ohio
With this in mind, here are some of the best Ohio renters insurance carriers:
- Erie: Erie has some of the most affordable rates, something that can help budget-conscious buyers.
- Motorist: The Motorist makes the list thanks in part to the affordability. An annual renters insurance policy for Motorist could cost you $100 annually. You can also add extra coverage to protect valuable items.
- State Farm: State Farm makes the list for its outstanding customer service. It was one of only a few traditional providers that earned a five out of five rating in J.D. Power’s survey. It also offers several other insurance products and discount options.
- USAA: USAA is an excellent choice if you’re in the military or related to someone who is. USAA earned the highest marks from J.D. Power’s survey, scoring five out of five for customer satisfaction. It also offers a wealth of other insurance options such as life and auto, making USAA a great one-stop resource for all your insurance needs.
To find the best of the best, we examined how customers viewed the carrier by looking at the J.D. Power & Associates customer satisfaction surveys. We also took into account the costs of the policy and how financially strong the provider is with credit rating agencies, as this indicates whether the company has the financial means to pay for claims.
Using these metrics, here’s a look at how the top four compare to each other:
|Provider||J.D. Power||AM Best rating||BBB Grade|
|USAA||5 out of 5||A++||A+|
|State Farm||5 out of 5||A++||A+|
|Erie||3 out of 5||A||A+|
Because everyone has different needs, here are some of the best Ohio renters insurance depending on specific circumstances:
The cheapest Ohio renters insurance: Motorist Insurance
As noted above, Motorist is an affordable option where you can pay as little as $100 annually for a policy. If you need a bare bones policy, you’ll have a hard time finding something more affordable. However, other factors like if you need more personal property protection or live in an older building could increase the premium slightly.
The best Ohio renters insurance for seniors: State Farm
State Farm is excellent in that you can receive a quote online, over the phone or in-person through an agent. The company has some of the best customer satisfaction scores, demonstrating a high level of service the carrier provides. This makes State Farm a helpful option for seniors who want confidence that their insurance provider will be easy to work with.
The best Ohio renters insurance carrier overall: USAA
If you’re in the military, USAA is your best choice. It earned the highest customer satisfaction scores with J.D. Power, and USAA’s policies are affordable. You can get one for less than $100 per year.