Renters Insurance

As a renter, you’re responsible for what happens inside your residence. If your personal belongings are damaged or someone is injured in your place, you can protect your financial livelihood with renters insurance. This coverage might give you financial protection in adverse circumstances such as these.  

What Is Renters Insurance? 
A renters insurance policy usually provides liability and property damage coverage. The liability portion of your renters policy helps protect against claims of third-party bodily injury or property damage caused by you or another person listed as insured on your policy. It may also help pay for medical bills if someone has an injury in your rental.  

Two personal property coverage options are generally available with renters insurance: replacement cost value or actual cash value. If you insure at replacement cost value, you can replace your purchased belongings at today’s prices. Opting for the actual cash value can get you the replacement cash value minus depreciation at your loss. In addition, some renters insurance policies might pay your temporary living costs if you need to live elsewhere because of a fire, severe storm or another covered disaster. This coverage may include hotel bills, temporary rentals, restaurant meals and other living expenses.  

How Much Insurance Coverage Should I Have? 
How much coverage you decide to have for your renters insurance policy depends on the value of your belongings and what you want to insure. It’s a good idea to inventory your belongings, adding up the value of everything you’d like to replace if it were damaged or stolen. If you can, record model numbers, dates and where you purchased items, and take photographs or videos of your possessions. 

Renters insurance doesn’t cover floods, earthquakes, or routine wear and tear. Depending on your location and needs, you may need additional insurance coverage for flood and earthquake damage.  

Is Renters Insurance Required in Ohio? 
Renters insurance is optional, and there is no requirement for you to have coverage in Ohio unless your landlord requires you to have it as part of your rental agreement. If your landlord does need you to have coverage, we can help ensure you get the right policy for your particular living situation. 

Protect Your Financial Livelihood 
While you may rent your home and not own it, you’re still responsible for what happens inside your dwelling. The unexpected expenses of an injury or property damage can cause stress and financial hardship.  

Arbutina Insurance Group can help protect you. Call us at 330-412-9588 to get started on your renters insurance policy.