Home > Renters Insurance > The Best Cheap Renters Insurance in Ohio (2022)

The Best Cheap Renters Insurance in Ohio (2022)

Updated Dec 7, 2022

Updated Dec 7, 2022

Home > Renters Insurance > The Best Cheap Renters Insurance in Ohio (2022)

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Renters insurance will protect your personal property from things like theft and fire. In the state of Ohio, where there are some tremendous opportunities for great rental properties, renters’ insurance coverage is really important to have. If you are aware of the need for renters insurance but want something affordable and easy to sign up for, we have you covered. Take a look at the best cheap renters insurance in Ohio, and contact any of these providers to get a free quote.

Any providers below can help you get the renter coverage you need. Contact them for a free quote.

The Best Affordable Renters Insurance Companies in Texas

Renters’ insurance quotes can change from month to month. Depending on where you live, the coverages you choose, and a whole host of other factors, renters insurance pricing rarely stays the same for long. However, as of October 2022, these are the cheapest renters policy options in Texas that also do a great job protecting you and your personal belongings.

Renter’s insurance rates will change based on things that are both in and out of your control. However, as of October 2022, these are the cheapest renters policy options in Ohio that also correctly protect your belongings.

CompanyLemonadeGeicoState FarmTravelersAllstate
Compare QuotesGet a quoteGet a quoteGet a quoteGet a quoteGet a quote
Our TakeQuickest Claims ProcessBest Customer ServiceBest Personal Property CoverageBest For AffordabilityBest For Combined Plans
Average Monthly Premium$12$16.75$16$16$17
Savings vs. Average$8$1.25$2$2$1
House Method Star Rating4.94.74.54.34.8

Lemonade (Quickest Claims Process)

Quickest Claims Process
Lemonade
  • Easy-to-use mobile app and interface
  • Customizable coverage options
  • Fairly painless claims process

Lemonade is the clear winner if money savings is your major concern. Lemonade makes filing a renters insurance claim incredibly easy. In addition, it doesn’t matter if you live in Cincinnati, Columbus, or Cleveland; Lemonade is available for you, and the renter’s insurance premiums will be fairly priced. When we worked with Lemonade for our renter’s insurance premiums, the quotes would come up in just minutes.

Some of the coverages that Lemonade offers include things like water backup coverage, theft, and of course, options for loss of use coverage, medical payments, and personal liability that you can add. Lemonade is very highly rated when comparing the best renters insurance rates. However, when you look at the customer service this brand provides, the ratings slip just a little.

Why We Chose Lemonade

We chose Lemonade because it’s easy. Renters’ insurance coverage is not necessarily something you want to take a lot of time to deal with in your day. With Lemonade, your renter’s insurance quote and renters insurance claims will be easy and without stress. Whether you want to cover $15,000 or $50,000 of your property, chances are very few renters will end up using it. Keep things simple with Lemonade.

This company gets things done fast, and your money can sometimes come back to you the same day your claim is accepted. Combine your auto policy and save even more!

Pros and Cons of Lemonade

Pros

  • Low cost, cheaper than the average
  • Easy to get a quote
  • Has options for additional liability coverage
  • Available across the entire state

Cons

  • Complaints about customer service
  • Not as well known as something like State Farm or Allstate

Cost

$12 per month

Geico (Best Customer Service)

Most Accessible Customer Service Reps
Geico
  • Local insurance partners offer numerous coverage options
  • Discounts for existing auto policy holders
  • Available in all 50 states

Where Lemonade struggled with customer service, Geico shines. This company is all about customer service; whether you are looking for pet insurance, auto, home insurance, or renter’s insurance, Geico gives customers the feeling that they want to help improve their experience.

Our favorite discount Geico offers is the ability to pay for the entire policy upfront for the year. When it comes to insurance discounts, this is one of the better ones out there, and Geico makes it easy to get. To improve renters’ peace of mind, all Geico renters insurance policies come with a $500 coverage towards damage to the property of others.

Why We Chose Geico

The Geico website makes it really easy to deal with your policies, make payments, and even changes. Geico seems to be upfront about any exclusions that the policy might have or coverage limits you should be aware of.

Again, renter’s insurance is there for peace of mind; it’s not something you will want to have to think about often. Geico lets you know they are there if you need them.

Pros and Cons of Geico

Pros

  • Lower costs are available if you pay in full
  • Easy to manage policy
  • Friendly and helpful agents

Cons

  • Won’t always be the cheapest of the policies

Cost

$16.25 per month

State Farm (Best Personal Property Coverage)

Most Comprehensive Personal Property Coverage
State Farm
  • Offers business and residential renter’s policies
  • Inflation-adjusted coverage provided for personal property
  • Available in 48 states and Washington D.C.

State Farm is often looked at as one of the more expensive insurance companies for renters insurance. However, that is not the case. In fact, State Farm offers some of the best coverage for the fairest price. All of State Farm renter’s policies have the option to be covered with replacement cost coverage. If you lose something several years old, your State Farm policy will replace it in full.

In addition, State Farm is an insurance agency that cares very much about customer service. When you have to file a claim, the friendly and responsive agents do everything they can to get you your money back.

Why We Chose State Farm

In addition to offering nationwide coverage, options for things like additional living expenses, and impressive policy limits, State Farm also has a local presence in the Ohio area. State Farm locations throughout the state for those who want to stop in and meet an insurance agent face-to-face. If you have a State Farm locally this can be a great option if you are wanting to look into the other types of coverage available for you.

State Farm also offers options to add cyber-attacks to your policy. If you have counted State Farm out in the past due to cost, give it another try; the quality of the renter’s insurance speaks for itself.

Pros and Cons of State Farm

Pros

  • All coverage features replacement cost
  • Well-known brand with great customer service
  • Local presence throughout the state
  • Options for identity theft and cyber attack coverage

Cons

  • Add-ons can be expensive
  • Sometimes deductibles are higher with State Farm

Cost

$16 a month

Travelers (Best Additional Coverages)

Travelers are the best renters insurance in Ohio for additional coverages. Essentially, if you want to add things like identity theft or equipment breakdown, the plan has great options for you to choose from. Having the ability to customize a renters insurance plan is a tremendous benefit.

The option to add in replacement cost coverage from Travelers will cost you a little bit, but it is a possibility for Ohio renters. In addition, things like vandalism and loss of use will be covered automatically. Most areas of the state allow for you to get a quote directly online, but some require a call to the Travelers headquarters to finalize the rate.

Why We Chose Travelers Renters Insurance

We chose Travelers renters insurance because of the plan’s quality for the price. If you read renters insurance reviews working with the company is very straightforward, but there are some issues with customer service when it comes to claims to file. Travelers are fair when it comes to pricing, and this makes the addition of other coverages more affordable.

Pros and Cons of Travelers Renters Insurance

Pros

  • Option for replacement cost coverage
  • Medical expenses can be added at different values
  • Good accessibility throughout the state

Cons

  • Some customer service complaints
  • Limits for the policy can’t go below $30,000

Cost

$16 per month

Allstate (Best For Combined Savings)

Allstate Renters Insurance

With Allstate being one of the most well-known auto insurance providers in the Ohio area, you may be able to add your renter’s insurance directly to your car insurance. Allstate has some really strong options for bundling to help you save money. This type of bundle can keep you well protected from property damage, liability, and other risks.

Like State Farm, Allstate has local agents who can help you with your policy in person. If you need to see someone face to face to feel comfortable about your insurance quote or claim, the local agents are knowledgeable and highly trained. In the end, the rates may be slightly higher because of this, but it’s something worth paying for.

Why We Chose Allstate

Although it’s not the cheapest renters insurance plan on the market, Allstate is fair and reliable. Having a dedicated representative to help you with any of the needs of your insurance policy is a tremendous benefit and one that all renters should consider before they invest.

Pros and Cons of Allstate

Pros

  • Very easy company to work with
  • Quote within a matter of minutes
  • Knowledgeable agents to help you with your policy
  • Opportunities to save large percentages with bundling

Cons

  • Initial pricing is a bit higher than companies like Lemonade

Cost

$17 per month

Compare the Best Renters Insurance Companies in Ohio

Now that you have a better understanding of the best cheap renters insurance in Texas, you may be curious as to what a little more money will get you to ensure the best renters insurance companies in Texas. The good news is that most of the companies on our cheap list will also be considered some of the best in the state. It’s essential to learn to compare coverages from one company to another so that you have the best knowledge of what you are getting.

The best renters insurance companies in Ohio will sometimes be priced a little higher than the cheapest renters insurance companies in Ohio. If you are looking for policies that are top of the line, require almost no attention by you, and pay out claims at a higher rate, then these could be your best options to consider. You will notice that some of our best cheap renters insurance companies still made a list for the top companies in the state.

CompanyState FarmAllstateTravelersThe HartfordFarmersGeico
Compare QuotesGet a quoteGet a quoteGet a quoteGet a quoteGet a quoteGet a quote
Our TakeBest PersonalProperty CoverageBest For Combined PlansBest OverallBest For Valuable ItemsMost Well Rounded CoverageBest Customer Service
Average Monthly Premium$16$17$16$24.50$25$16.25
Savings vs. Average$2$1$2+6.50+7$1.25
House Method Star Rating4.54.854.74.84.7

How Much is Renters Insurance in Ohio?

Renters’ insurance in Ohio is around $220 a year or $18 per month. Some factors will impact the cost of your renter’s insurance in Ohio. These things include the individual options you choose, where you live, and the amount of coverage that you need. Quotes for renters insurance can go up and down from year to year, and therefore it’s a good idea to have your policy quoted from time to time.

CompanyOur RatingMonthly Renters Insurance Premium
Lemonade4.9/5$12
Geico4.7/5$16
State Farm4.5/5$16
Travelers4.3/5$18
Allstate 4.8/5$17

Renter’s Insurance Costs in Popular Ohio Cities

Some areas of the state of Ohio are more prone to water damage or theft. This increases policies’ average pricing even within the same state. If you have recently moved or are planning to move, this is a consideration that could save you money. Here are some examples of how the area where you live can impact the price you pay for renters insurance.

  • Dayton ($20)
  • Cleveland ($22)
  • Cincinnati ($18)
  • Dublin ($18)
  • Canton ($17)
  • Akron ($20)

Who Offers the Cheapest Renters Insurance in Ohio?

The cheapest renters insurance in Ohio is offered through Lemonade; these start at around $12 per month for a very limited policy. Lemonade has been around for about 7 years and is based in New York City. One of the reasons that Lemonade offers such low pricing for its policies is that they do not have any local agents. This is looked at as a positive for some and a negative for others.

If you are particular about personal attention to your insurance policies, Lemonade may not be the best fit for you. If instead, you like the simplicity of simply getting the quote and coverage on the same day, and you know exactly what you want, Lemonade is a smart choice to consider.

Factors that Impact Renter’s Insurance Premiums in Ohio

Renters’ insurance premiums not only vary in price from one apartment or rental to another, but they can also change from one area of the state to another. Ohio renters are lucky in that this can be a lower risk state from the standpoint of earthquakes, hurricanes, and wildfires. However, with theft and vandalism issues in some parts of the state, the overall cost of coverage can go up.

Location and Home Risk Level

The highest risk level for Ohio renters is typically theft and fire. In either of these situations, your renter’s policy will step in to help pay for the damage and replace your things. If you look at the coverage levels your policy offers, you may want to consider just a bit extra to ensure your personal belongings are completely covered.

In some areas of the state where renters insurance is a bit less expensive, you may be able to get a great deal of coverage for a fair price.

Claims Record

Unfortunately, insurance companies are good at tracking your claims and seeing how much you use the insurance policy. This is the case in homeowners insurance and landlord’s insurance, and it also applies to renters insurance. Some companies offer forgiveness from a claim or two, but most will have a percentage you need to pay extra because of previous claims.

If you can’t get the quote you want on the website, sometimes you may be able to call and see how long your covered loss will count against you.

Credit Score

A credit score is often checked when purchasing a renters insurance policy. Without ensuring your credit score is good, insurance companies take a much bigger risk. For those with lower scores, premiums can be almost double what they are for those with high credit ratings.

As your credit score improves, your pricing will likely go down, so be sure to continue to look at the pricing and keep getting it quoted.

Coverages, Deductibles, & Discounts

Most renters insurance policies have coverage options that start around $15,000 for personal property and go up over $100,000. The average amount of coverage is typically between $30,000 and $50,000. Low coverage totals are going to cost you less money per month.

The deductible is another part of the homeowner’s insurance policy that much be considered.

Deductibles are paid each time you file a claim against your renter’s insurance policy. If you have a $1,000 deductible, the first $1,000 in expenses will be paid by you; the insurance company will cover the rest.

Discounts can be included for people who pay in advance for the year, those with great credit scores, and sometimes even if there are extra security features in the home, you are living in. Multi-policy discounts are another great feature for renters to be aware of if they have other types of insurance in place.

What Does Ohio Renters Insurance Cover?

Every renter’s policy in Ohio will offer different coverage options. However, most basic policies will cover the following:

  • Personal property
  • Loss of Use
  • Liability Protection
  • Medical Protection

Most plans offer additional coverages that you can use to increase liability, help to ensure expensive jewelry is covered, or increase the medical payments coverage if you don’t have insurance. Some policies also offer a heap upgrade for identity theft or fraud.

Considerations for Renters Insurance in Ohio

When purchasing renters insurance in Ohio, there are a few things that you should consider before you finalize the policy.

Ohio Department of Insurance

The Ohio Department of Insurance is in charge of all things insurance in Ohio. If you are concerned about whether or not a company is safe to invest in, or if you think the rates are unfair, you can call and talk to a representative at the Ohio Department of Insurance; they take great care to ensure that your policy is truly there to protect you.

Personal Property Calculator

Some renters undervalue their belongings and find this out at the worst possible time. Make sure you know exactly what you have in the rental so you can benefit from the coverage when a claim is filed. Undervaluing the coverage makes the month-to-month payments lower, but in the end, you will be without quite a bit of money if there is a large claim. Use an online personal property calculator to determine how much you need.

Final Verdict: Which Ohio Renters Insurance Company is the Best?

The best Ohio renters insurance company is Lemonade for those looking to save money and get their claims filed quickly. Signing up for a policy takes a few minutes, and you get a quote detailing everything covered. Choosing enough coverage is the most important step in this process; Lemonade offers a fair price for upgrades so that you can find a policy with plenty of coverage.

Contact Lemonade or any of the providers below to score a free quote:

Frequently Asked Questions

What is the average cost of renters insurance in Ohio?

The average cost of renters insurance in Ohio is around $18 per month. The costs can go up and down based on the individual coverages you choose for your plan.

What are the 3 major parts of renters insurance?

The 3 major parts of renters insurance are personal possessions, liability, and additional living expenses.

What is not covered by renters insurance in Ohio?

In Ohio renters, insurance may or may not cover expensive jewelry, a business being operated in the rental, or cash you have stored in the home.

Can you have two renters insurance policies in Ohio?

You can have two renters insurance policies in Ohio, but it won’t double your coverage. In fact, you will just be paying more out of pocket than necessary to have a policy like this in place; instead, increase the coverage on a single policy and save your money.

Is renters insurance required in Ohio?

Renters’ insurance may or may not be required in Ohio. Most of the time, it is an optional policy, but many landlords may require that you have it in place. Find out before you sign your lease to get the best deal on these renter’s policies.

Other Renters Insurance Resources