Who Has the Cheapest Renters Insurance Quotes in Ohio?

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This article has been reviewed and deemed factual by our content auditor with 8 years of banking experience.

Article Approved By Banking Expert

This article has been reviewed and deemed factual by our content auditor with 8 years of banking experience.

Home to large cities, large stretches of suburbia and fields alike, Ohio has a diverse population of renters and a similarly wide set of potential problems and disasters looming on the horizon. If you live here, though, you shouldn’t be controlled by any related anxiety. For this reason, we recommend nearly everyone get renters insurance for their place. It will give you a way forward should a fire, break-in, or a storm shakes your home. It also isn’t too expensive, if our research has anything to say about that.

Here are the five cheapest renters insurance providers operating in Ohio:

The Five Cheapest Quotes:

Outside of you getting a quote from each of the following companies, there is simply no way to perfectly predict your annual rate and eventual experience. For that reason, we ask that you understand that there might be some deviation from the following information.

The number listed next to each provider is the average annual rate for a standard policy.

1) Liberty Mutual: $173

In what will be nearly a steal for most renters in Ohio, Liberty Mutual is able to provide customers with an excellent level of coverage for nearly every situation at an extremely competitive price. We found few weaknesses or problems in their standard plan, and if you’re interested in even more coverage, they offer plans for identity theft, jewelry, high-value items, and water damage.

While you may not wish to bundle with them and you may experience a much higher rate in certain areas, there are few reasons to not at least give Liberty Mutual a look.

You can expect the following working with Liberty Mutual:

  • Some great online tools, interfaces, and options.
  • The ability to lower your rate even further through discounts formed via partnerships with a large range of organizations, one of which you likely belong to.
  • A large selection of additional insurance products and policies.

2) State Farm: $196 

The second cheapest provider on average, State Farm is another provider that can provide you with a basic plan that will keep your head free from worry and take care of you should most disasters strike. They do have a few areas where they truly stand out for the cost, though such as their loss-of-use, electronics, and business property coverages.

What they aren’t able to offer is the best customer service in the industry, with quite a few complaints coming in against them in this regard. Additionally, their water damage and flooding coverages are either simply not there or very hard to obtain (for most people), so those living closer to a lake, river, or flood zone may want to work with another company.

You can expect the following working with State Farm:

  • A loss-of-use policy that will take care of you for longer and at a better quality than nearly any competitor.
  • A customizable onboarding and signup process, making getting insurance as easy as possible for you.
  • Bundles and deals to drive down your annual rate.

3) Nationwide: $304

Nationwide is a bit of a price jump from the first two options, but you will be getting quite a bit for your money. Not only will you be working with well-trained staff who will be able to quickly address any issues or questions you may have, but you will also have access to some of the best policy customization options in the industry. With them, you will be able to customize your deductible based on your needs and do the same for your coverage levels.

Yet you might need to use them, as some default coverages might not be what you’re hoping for. And aside from the usual high cost, in certain areas that number might grow even higher, making them an unacceptable choice.

You can expect the following working with Nationwide:

  • A free assessment each year to help you get the very best policy for your exact needs.
  • Optional water and sewage backup, earthquake, added valuables, theft extension, and other coverages.
  • Discounts and bundles which can make Nationwide much more affordable if you’re concerned about the annual rate.

4) Farmers: $325

Very similar to Nationwide in most regards (including price), Farmers has a bit more of a customer service focus while still offering most of the customization options you could hope for. You will feel as though you matter to the Farmers’ staff, and they will also be easy to work with so that you don’t waste time getting insurance when you could be doing something else.

Farmers is not the best choice if you’re looking for exceptional jewelry coverage, though, and other people have reported a poor online experience, slowing down the entire process. For many people, we do expect Liberty Mutual or Nationwide to be the better choice.

You can expect the following working with Farmers:

  • The ability to modify both your deductible and to a degree the level of coverage you’ll get for different categories of items.
  • The ability to add identity theft protection, pet damage protection, better liability coverage, or personal article floaters to your policy.
  • Discounts for public service professionals such as teachers and doctors.

5) Allstate: $342

The last choice on this list is Allstate, a company that can give you a policy that not only takes care of the basics but handles them all well. They’re a great choice for a simple solution, and we consider their main draw in Ohio to be their excellent water damage and flooding coverages, making them much more attractive to renters on the coast.

Despite the price, however, Allstate still leaves a lot to be desired in the customer service department, with some agents being clearly better than others. You also might find yourself looking for more customization options if you have already looked into the previous choices on this list.

You can expect the following working with Allstate:

  • Optional coverages which include water damage coverage, identity theft restoration, added business property coverage, and other offerings.
  • A modern and intuitive set of online tools and interfaces to save you time.
  • Good bundling options, especially if you’re also looking for auto insurance.

Conclusion

There can be a lot to do in Ohio and a lot of options to choose from, but you should make your long-term plans and your financial security a priority and spend a few hours looking further into the companies you think might be a great fit, getting a quote in the process. Only then will you be able to make an educated decision. We hope you will be able to sleep easier soon.

 

Ryan Friend

Ryan Friend

Ryan Friend

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