We conducted a survey on the average price of renters insurance offered by every major Ohio insurer. Here, we’ll walk you through the process of finding the best and cheapest renters insurance in Ohio.
Table of Contents
- How much is renters insurance in Ohio?
- Average cost of renters insurance in Ohio by city
- Average cost of renters insurance in Ohio by insurance company
- The cheapest renters insurance in Ohio: It depends
- The best renters insurance in Ohio: State Farm
- Other Ohio renters insurance providers you should consider
- What else do you need to know about renters insurance in Ohio?
- How we gathered our data on Ohio renters insurance prices
How much is renters insurance in Ohio?
The average price of renters insurance in Ohio is $20.88 per month, which is close to the national average of $20 per month. The most expensive renters insurance we found was offered by Progressive in Akron ($39.66), and the cheapest was offered by Lemonade in Lorain ($11.00).
Most insurance companies charge more in Cleveland and Toledo, where the average monthly prices are $25.35 and $25.12, respectively. Cleveland’s high cost of renters insurance can be explained by the fact that it has one of the highest burglary rates in the country (this is relevant because renters insurance usually covers theft).
In general, the differences in pricing between cities in Ohio are the result of several factors that insurers consider when calculating your renters insurance premium:
- Geographical factors: These factors include how prone a city is to severe storms/adverse weather, flooding, or wildfires, as well as its proximity to the coast.
- Urban factors: Insurers adjust their prices according to how big a city is and what the city’s crime rates are.
- Policy choices: If you opt for higher coverage, policy add-ons, or a lower renters insurance deductible, then your premium will be higher.
Geographical and urban factors influence your premium because insurance companies consider them to be indicators of your “risk” as an applicant (i.e. the likelihood that you’ll eventually need to file a claim). In other words, insurance providers increase the cost of renters insurance for residents of certain areas to protect themselves from losing money on claims.
The next section details the average price of renters insurance in Ohio by city and by insurer. Later on, we’ll give an overview of how we collected our data.
Average cost of renters insurance in Ohio by city
This table shows the average monthly and annual price of renters insurance in Ohio’s 15 largest cities:
|City||Average price (monthly)||Average price (yearly)|
Average cost of renters insurance in Ohio by insurance company
This table shows the average price offered by each Ohio renters insurance provider, as well as how much more or less expensive their prices are than the typical prices offered by their competitors:
|Insurer||Price||Difference from average|
The cheapest renters insurance in Ohio: It depends
The most affordable renters insurance in Ohio ultimately depends on what city you’re living in. This is because some insurers (like Lemonade) have remarkably varied prices in Ohio (ranging from $11 to $33), whereas other companies have relatively consistent pricing across all cities.
State Farm has the cheapest statewide average, offering policies costing just $15.12 per month, but this number doesn’t tell the whole story. In fact, State Farm is the cheapest insurer in only two major cities, falling short of Lemonade (the cheapest insurer in 10 cities) and Nationwide (3 cities).
Nationwide is extremely close to State Farm in terms of its average price ($15.25 per month). What’s more, it offers the most consistently low prices, with policies in the range of $14–$16 per month for all major cities in Ohio.
However, when you exclude the top three most expensive cities (Cleveland, Toledo, and Akron) from your calculation, Lemonade offers the cheapest renters insurance in Ohio, with policies costing $13.43 per month on average. With that said, Lemonade has the most variable prices of any other insurer, and it is one of the most expensive options if you live in Toledo ($33.75) or Cleveland ($29.09).
Takeaway: Check your city’s prices
Because of differences in the ways that insurance companies calculate their prices, it’s best to consider prices on a city-by-city basis rather than making a judgment based on each company’s statewide average.
For example, you can save a lot of money by opting for State Farm if you live in Akron (where they offer $12.75, as compared with the city’s $22.75 average) or Youngstown ($12.75 vs. $21.48), but the cheapest renters insurance provider is different if you live in any of the following cities:
- Cities where Lemonade is cheaper: Columbus, Cincinnati, Parma, Canton, Lorain, Hamilton, Springfield, Kettering, Elyria, and Newark
- Cities where Nationwide is cheaper: Cleveland, Toledo, and Dayton
The best renters insurance in Ohio: State Farm
The numbers show that State Farm offers the cheapest renters insurance in Ohio on average, but the company also boasts several other advantages that we think make it stand out as the best company for renters insurance if you live in Ohio.
Before making a decision on the insurer that’s right for you, consider State Farm’s pros and cons and how it compares to Nationwide and Lemonade, its close runners-up in terms of price.
Benefits of State Farm renters insurance in Ohio
- Highly customizable personal property and loss-of-use coverage: One of the main advantages of State Farm’s renters insurance policies is that they’re highly customizable. You have the freedom to choose how much personal property coverage you want, from $2,000 up to $1,000,000, which is a broader range than most other insurers offer.
- Optional earthquake coverage: Renters insurance policies typically don’t cover damage from earthquakes. However, State Farm does offer the option to cover earthquakes by adding an endorsement to your renters insurance policy. While you might not think of Ohio as a hotspot for earthquakes, at least 15 earthquakes have caused mild or moderate damage in Ohio since 1776, which makes this option worth considering.
- Other options for additional coverage: You can also opt for additional liability coverage, business property coverage, protection from cybercrime and identity theft, and coverage for jewelry and computers.
Disadvantages of State Farm renters insurance in Ohio
- Limited discounts: If you’re looking to further reduce your renters insurance cost, then the only way to do so with State Farm is by bundling your policies or installing home safety alert systems such as smoke detectors, fire or burglar alarms, or a home monitoring system. These are common discounts that are also offered by most of their competitors, including Nationwide and Lemonade.
Nationwide vs. State Farm
In addition to the two discount options offered by State Farm, Nationwide may offer you a reduced rate if you currently have a renters insurance policy but haven’t filed any claims. Nationwide also offers some options for additional protection that you can’t get with State Farm, including added coverage for expensive items and extended coverage for items stolen from your vehicles.
Lemonade vs. State Farm
In addition to their home security discounts, Lemonade will offer you a discount if you’re willing to pay for a whole year of renters insurance upfront. Another plus is that a portion of your insurance premium is donated to nonprofit organizations. The downside is that because Lemonade places a strong emphasis on digital operations, it has fewer customer support options than State Farm does.
Why State Farm is the best insurer in Ohio
In addition to having the cheapest prices in several of Ohio’s biggest cities, State Farm is a well-established insurer with a large network of agents across the country who can quickly assist you with any problems you have.
They offer basic coverage for a reasonable price, as well as several renters insurance riders if you’re looking for additional coverage. For these reasons, State Farm is our pick for the best renters insurance company in Ohio in terms of price and coverage.
Other Ohio renters insurance providers you should consider
While many insurers offer similar basic renters insurance policies and coverage options, they differ in terms of their size, business models, offers and discounts, and availability. These differences may influence the best option for you given your particular circumstances.
To help you with your search, we’ve also looked at the best renters insurance companies in Ohio for:
- Military service members and veterans
- Dog owners
- Car owners / people with auto insurance
- College students and first-time renters
Best Ohio renters insurance for military service members and veterans: USAA
USAA offers some of the most comprehensive renters insurance policies, whether you live in Ohio or not. They’re known for their friendly and responsive customer service and efficient claims handling.
USAA’s renters insurance is particularly attractive because unlike other renters insurance policies, their policies cover floods and earthquakes. If that sounds too good to be true, then that’s because it’s not available to everyone: you can only sign up for USAA renters insurance if you’re a veteran, a member of the military, or you’re related to a USAA member. Unfortunately, if you don’t fall into one of these categories, then you won’t be eligible for their renters insurance.
Best Ohio renters insurance for dog owners: State Farm and USAA
In Ohio, it’s legal for insurance companies to refuse to cover certain dog breeds that they consider to be dangerous. Although renters insurance policies cover dog bites, several of Ohio’s largest insurers, including Allstate, Nationwide, and Liberty Mutual, exclude coverage for injuries or damages caused by any of their blacklisted breeds.
State Farm and USAA are the only two major insurance companies that don’t discriminate against dogs based on their breed. Both companies instead evaluate your dog’s history of causing injury or property damage when deciding whether to cover them.
Best Ohio renters insurance for college students and first-time renters: Lemonade
If you’re a student or renting your first apartment, then Lemonade may be appealing to you because of their low prices and modern approach that aims to simplify the process of applying for renters insurance and filing claims.
When signing up, you have the option to select a nonprofit organization that will receive a portion of the premium you pay each month. This business model has made Lemonade very popular with tech-savvy renters who are looking for ways to make the world a better place through charitable donations.
Despite these benefits, Lemonade is still a relatively new company, and it’s too soon to tell whether their business model will succeed in the long term. The company has few staff members and operates digitally through its website and app, meaning that while it’s convenient for some people, it’s probably not ideal for someone who wants personalized assistance.
Best Ohio renters insurance if you already have auto insurance: your current insurer
If you already have auto insurance and your insurer also offers renters insurance, then simply choosing one of their renters insurance policies could save you more than 10%. Most insurers offer these bundling discounts, although the amount that you can save varies from company to company.
Car insurance is about five to eight times more expensive than renters insurance, with premiums averaging around $1,500–$1,600 per year. Saving 10% (around $200) is equivalent to getting renters insurance practically for free, which means that bundling is almost always your cheapest option.
Insurance companies differ in terms of the types of insurance they offer. If you’re in the market for renters insurance, you should check whether it’s something your auto insurance provider offers before looking for a policy from another company.
Learn more about renters insurance providers in Ohio
If you need more information on which insurer is right for you, then read our renters insurance reviews for a breakdown of each company and the rating metrics that different organizations use, such as their J.D. Power and AM Best ratings. You can find these reviews here:
What else do you need to know about renters insurance in Ohio?
Insurance regulations vary on a state-by-state basis. If you’re looking for renters insurance in Ohio, you should bear the following information in mind:
All renters insurance policies cover damages from wildfires and lightning strikes
Although renters insurance doesn’t cover certain natural disasters, renters insurance in Ohio covers many types of storm damage (including wind and hail damage) and damage from lightning strikes. Ohio is prone to severe storms, making this protection particularly valuable.
Additionally, renters insurance covers all types of fires, including wildfires. Although fewer wildfires occur each year in Ohio than in some other states, Ohio’s southern and eastern counties are higher-risk areas for fires. (It’s worth noting that if your home is struck by a fire, renters insurance will only cover damages to your personal property and not to the building you live in — the building is your landlord’s responsibility.)
You can get flood insurance under the National Flood Insurance Program
Although many renters insurance providers will cover water damage from burst pipes or from another water source within your home, renters insurance doesn’t usually cover floods. For this reason, you should consider purchasing flood insurance through the National Flood Insurance Program to make sure you’re covered.
Although Ohio isn’t one of the states most at risk of flooding, floods can happen just about anywhere. Following Ohio’s cold winters, there may be an increased risk of flooding due to snowmelt in the spring. Your property might also be at a greater risk of damage if you live in a low-lying area.
Is a credit check required for renters insurance in Ohio?
Yes, like in most other states, you’ll need to undergo a credit check in order to get renters insurance if you live in Ohio.
The purpose of a credit check in renters insurance is complicated. The main thing you should know is that insurance companies will typically use your credit-based insurance score to decide how much to charge you for your policy. (A lower score will likely make your premium more expensive.)
Although your credit-based insurance score isn’t the same as the FICO score you’re used to seeing, the same factors influence both scores. If you have a high FICO score, you’ll also have a high credit-based insurance score, and vice versa.
Can landlords require renters insurance in Ohio?
Although you aren’t legally obligated to have renters insurance, landlords in Ohio can require their tenants to have renters insurance. Oklahoma is the only state where landlords are not allowed to make renters insurance mandatory.
How we gathered our data on Ohio renters insurance prices
To collect the data we used in this article, we conducted a survey of the renters insurance prices offered by every major insurer in Ohio’s 15 largest cities.
The quotes were based on the following assumptions:
- Insured party: 30-year old male, employed, unmarried, with no pets
- Personal property coverage: $30,000
- Personal liability coverage: $100,000
- Guest medical coverage: $1,000
- Loss-of-use coverage: Insurer’s default (usually based off personal property coverage)
- Deductible: $500
Insurance companies consider demographic data (like your age) when they calculate your premiums, so the quotes you’ll receive will be slightly different. Because renters insurance is so cheap, in most cases the difference will amount to just a few dollars.
The quotes listed above do not include down payments or installation fees. Some companies apply these charges when you first purchase a policy, but it’s relatively simple to get renters insurance with no down payment.
The average price of renters insurance in Ohio by city and insurer
The table below shows the data we gathered on Ohio’s renters insurance prices. Scroll to the right to view the full table.
|Allstate||GEICO||Progressive||State Farm||Liberty Mutual||Nationwide||Lemonade||Farmers|