Top 5 Renters Insurance Providers in Ohio of 2023
After in-depth research, we found the following providers to be Ohio’s best renters insurance options:
- Lemonade: Our top pick
- Toggle: Our pick for custom pricing
- Liberty Mutual: Our pick for discounts
- State Farm: Our pick for affordable premiums
- Allstate: Our pick for seniors
Lemonade Renters Insurance
Our Top Pick
4.6
Our Rating
Cost: 4.8
Availability and Ease of Use: 5
Brand Trust: 5
Coverage: 3.5
Our Review
A.M. BestNRJ.D. Power854/1000
Pros and Cons
Pros Company donates unused premiums through its charitable giveback program Offers discounts if you have protective devices like smoke detectors, home security systems, fire extinguishers, etc. Enrollment time averages about 90 seconds Cons Newer to the market than competing providers Unable to get renters insurance quotes by phone
Why We Chose Lemonade
If you’re a college student at OSU, Dayton, Kent State or any of the other top universities in Ohio, we’d recommend a renters insurance policy through Lemonade. As a fully-digital provider, Lemonade makes signing up easy through its mobile app and 90-second enrollment experience. Based on our research, Lemonade is also one of the most affordable insurers in Ohio, which is great for those on a student budget.
Another bonus is Lemonade’s charitable giveback program. At sign-up, you’ll have the opportunity to select one of 100 non-profit organizations to support. At the end of each year, Lemonade will donate a portion of unpaid claims to the organization of your choice.
Discounts and Endorsem*nts
Cost and Coverage Options
According to a quote we generated for a single renter in Cincinnati, Ohio, Lemonade insurance could cost around $118 per year in that area. Lemonade offers a variety of insurance discounts and endorsem*nts so you can customize your plan and get the most bang for your buck. These include a multi-policy discount and a discount for paying for the full year upfront.
- Discounts: Multi-policy bundling incentive, annual payment plan and protective devices
- Endorsem*nts: Water backup damage, landlord property damage, high-value property and significant other coverage
*A.M. Best ratings accurate as of July 2023
Toggle Renters Insurance Our Pick for Custom Pricing
4.1
Our Rating
Cost: 4.3
Availability and Ease of Use: 3.6
Brand Trust: 4.5
Coverage: 4
Our Review
A.M. BestAJ.D. PowerNR
Pros and Cons
Pros Offers add-on coverage for Ohio policyholders with side hustles Can help build your credit score by reporting monthly rent payments Basic plan is affordable at as low as $5 a month in some areas Cons Digital interface may result in challenges when reaching customer service by phone No mobile app for policy management
Why We Chose Toggle
Toggle is a tech-forward renters insurance provider that could be a good choice for Ohioans working to build their credit. Toggle’s unique Credit Lift option can help raise your credit score by reporting your monthly rent payments.
Unlike most competitors, Toggle also allows you to customize each component of your coverage, from protection for pet damage to specialized coverage for tools and equipment if you have a side business. This can benefit the many Ohioans who have turned to food delivery, babysitting and virtual assisting to supplement their income.
Discounts and Endorsem*nts
Toggle’s diverse, customizable discount and endorsem*nt options such as side hustles and pet coverage help it stand out among Ohio renters insurance providers. Additionally, Toggle partners with companies offering meal kits, streaming services, moving services, internet and dining to offer Ohio policyholders discounts on products and services.
Discounts
- Diminishing deductible
- Bundling discount
Additionally, Toggle partners with companies offering meal kits, streaming services, moving services, internet and dining to offer Ohio policyholders discounts on products and services.
Endorsem*nts
- Identity protector
- Temporary living costs
- Pet parent
- High-value items
- Side hustle
Liberty Mutual Renters Insurance Our Pick for Discounts
4.2
Our Rating
Cost: 4.4
Availability and Ease of Use: 4.6
Brand Trust: 4.3
Coverage: 3
Our Review
A.M. BestAJ.D. Power848/1000
Pros and Cons
Pros Offers more discounts than some competing Ohio providers Multiple coverage customization options, especially for personal property Features simplified policy documents and language Cons No discount for home safety features, which can impact Ohioans in high-crime areas Charges the highest premiums of all the providers we reviewed in Ohio
Why We Chose Liberty Mutual
With over 100 years of experience in the insurance industry, Liberty Mutual is a national provider of renters insurance policies. As the third-largest homeowner insurer in Ohio, the company has an expansive footprint in the state. Liberty Mutual provides discounts for situations such as buying a policy online to enrolling in autopay, offering multiple ways for Ohio residents to save on renters insurance. Additionally, the company’s wide range of coverage options and customization is worth considering for renters with unique or valuable items to protect.
Discounts and Endorsem*nts
Liberty Mutual stands out among Ohio rental insurance providers with its range of discount options, from multi-policy bundling and online purchase to “early shopper” —which gives you a discount if you purchase a Liberty Mutual policy before your old one expires. The company’s extensive endorsem*nts include earthquake coverage, which may benefit residents in Eastern Ohio more vulnerable to earthquakes.
- Claims-free
- Early shopper
- Online autopay enrollment
- Multi-policy bundling
- Online purchase
Endorsem*nts
- Blanket jewelry
- Earthquake coverage
- Personal property replacement cost coverage
- Identity theft protection
State Farm Renters Insurance
Our Pick for Affordable Premiums
4.4
Our Rating
Cost: 4.3
Availability and Ease of Use: 5
Brand Trust: 4.7
Coverage: 3.5
Our Review
A.M. BestA++J.D. Power844/1000
Pros and Cons
Pros Coverage includes damage caused by household pets Premiums average $9.08 in Ohio Storm damage is a standard inclusion in all plan levels Cons You may have to maintain a high deductible and low coverage options to achieve the lowest premium possible Endorsem*nts and add-ons are relatively expensive
Why We Chose State Farm
If you’re on a budget, State Farm is a viable renters insurance option. Next to competitors, State Farm offers the overall lowest monthly and annual premiums in Ohio. It’s worth noting that State Farm has a fairly limited spread of additional discounts available to policyholders. The company still offers multiple ways to customize your policy to fit your individual needs, though some customizations require speaking to a live agent to apply.
Discounts and Endorsem*nts
Cost and Coverage Options
According to cost data provided by Quadrant Information Services, State Farm costs an average of $108.96 per year in Ohio. Customize your plan and budget with State Farm’s discounts and endorsem*nts:
- Discounts: Auto bundling incentive, auto-pay, protective devices and claim-free history
- Endorsem*nts: Identity theft restoration, business property coverage and higher limits for scheduled personal property coverage
Allstate Renters Insurance
Our Pick for Seniors
4.3
Our Rating
Cost: 5
Availability and Ease of Use: 4.2
Brand Trust: 4.7
Coverage: 2.5
Our Review
A.M. BestA+J.D. Power835/1000
Pros and Cons
Pros Offers one of the highest numbers of discount options Has an online resource center for learning about renters insurance 24/7/365 customer care available in Ohio Cons Some Ohio residents may have to contact a local agent for a quote, versus applying online Has a separate deductible for natural disasters
Why We Chose Allstate
We specifically included Allstate in the review as a coverage option for senior tenants. The company offers discounts of up to 25% to policyholders aged 55 years or older. Allstate coverage terms are also lenient when it comes to credit scores, making it a suitable option for policyholders with potentially flawed credit histories.
As a large nationwide renters insurance provider, Allstate makes it simple to get in touch with a live insurance agent. You can reach a representative over the phone or online to help you choose the type of coverage you want or navigate the claims process.
Discounts and Endorsem*nts
Cost and Coverage Options
According to cost data provided by Quadrant Information Services, Allstate renters insurance costs an average of $ 12.58 in Ohio. Allstate also has the most discount options out of all our top-rated providers in Ohio:
- Discounts: Auto bundling incentive, senior discounts, auto-pay, protective devices and claims free history
- Endorsem*nts: Additional coverage for high-value property, business property coverage and identity theft restoration
Compare Renters Insurance Premiums in Ohio
Using data from Quadrant Information Services, an agency that provides insurance solutions, we obtained multiple quotes for each featured provider and compared rates to the average annual cost of renters insurance nationwide. The average cost of renters insurance in Ohio is $13.50 per month or $162 annually, which is lower than the national average of $15 per month or $180 per year.
Ohio ranks 27th in the U.S. for states most impacted by natural disasters, well behind coastal states like Florida, Louisiana and Texas. This could help explain why renters insurance prices are slightly below average in the state.
At $9.08 per month, on average, State Farm offers the lowest premiums of companies we reviewed in Ohio, with Allstate ranking second at $12.58. Overall, Toggle gives good value with its customization options, with premiums averaging $12.59 a month for Ohio policyholders.
As we researched prices we found that the state’s three largest cities, Columbus, Cleveland and Cincinnati, all have rates between $14.25 and $14.50 per month. On the lower end, renters insurance in Athens and Xenia average just over $13 a month, while Toledo has Ohio’s highest overall rates at just under $17.50 monthly.
Do I Need Renters Insurance Coverage in Ohio?
Renters insurance is not required by law in Ohio, though your landlord may stipulate you carry coverage as a term of your lease. As a renter, your landlord insures the structure of the rental property, paying for damages to the exterior of the building or complex. However, if something were to happen inside your unit, your landlord is not required to cover the cost of repairs or replacements in Ohio. Renters insurance covers this gap by paying for things like personal property damage you might experience in the event of a covered peril, like a fire or theft.
What Factors Affect Renters Insurance Rates in Ohio?
Rentals make up 35% of all Ohio housing units, with renters comprising more than 50% of residents of major cities like Cleveland and Columbus. Although the average cost of renters insurance in Ohio is $162 per year, your coverage selection, location and credit history will affect the exact cost of your renters insurance plan.
- Coverage selection: The higher your coverage limits and the lower your deductible, the more you will pay each month for coverage, and vice versa.
- Location and property features: Pockets of higher crime areas in cities like Cleveland and Dayton can see higher rates. The same applies to Ohio counties that experience more tornadoes and severe weather events.
- Your insurance and credit history: If you have a high credit score and very few past insurance claims, your plan will typically be cheaper.
What Are the Common Causes of Renters Insurance Claims in Ohio?
You can never predict when a theft, natural disaster or injury will happen. Although everyone hopes they’ll never experience a disaster that requires filing an insurance claim, there are some key occurrences that Ohio renters should consider when comparing policy options.
Theft and Robbery
The rate of property crimes like theft, robbery and vandalism have been declining in Ohio for over a decade, and the state has had rates of property theft under the national average for the past five years. That means you’ll likely pay less for renters insurance in Ohio than in other states. However, theft is still one of the most common causes of renters insurance claims. Thankfully, renters insurance can help cover the replacement cost of your valuables in the case of a covered loss.
Severe or Freezing Weather
Ohio is prone to severe weather like tornados, thunderstorms and high winds. The state also experiences sub-freezing temperatures during the winter. This can cause property damage, especially water damage, to your residence. A leaky roof or burst pipe caused by severe or freezing weather is typically covered under a renters insurance plan.
Personal Liability Claims
If someone is hurt in your residence, you could be held legally responsible for their medical payments, depending on the circ*mstances. Renters insurance offers liability protection that will help cover medical expenses or legal fees.
The Bottom Line
Our top renters insurance providers in Ohio are Lemonade, Geico, State Farm and Allstate. Lemonade and State Farm offer straightforward, affordable renters insurance if you’re on a budget, and Geico makes bundling your renters insurance with other policies simple. On the other hand, Allstate is the only provider on our list who offers a senior discount (among other discounts) and has flexible, comprehensive coverage.
Each provider has different benefits, and your coverage wants and needs will impact which one is best for you. However, each of our top picks is a reputable, highly-rated company that we recommend for renters in Ohio.
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Frequently Asked Questions About Renters Insurance in Ohio
Renters insurance is a policy that protects your personal belongings and provides peace of mind in case of unexpected events like theft or natural disasters. It’s different from a landlord’s insurance policy, which covers the physical structure of the rental property and any liability associated with it. It’s also different from homeowners insurance, which may not cover your personal belongings.
Typically, renters insurance provides $100,000 in liability coverage. However, the amount of coverage you receive is based on the number of items you own and their value. Some landlords may require a specific amount of liability coverage, which should be specified in your rental agreement.
First, you will need to visit a company’s website to look at renters insurance policies. Then when you are ready to request a free quote, you should have the following information ready:
- Name and birthdate
- Address
- ZIP code
- Preferred overage start date
- Number of people living in the apartment or home
- Value of personal property
For more information on how to get renters insurance, check out our step-by-step guide.
Renters insurance coverage excludes roommates unless they’re explicitly listed on your policy. However, covering your roommate isn’t advised as claims filed by other people will show up as claims filed through the policyholder and may affect your record.
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Other Insurance Resources From MarketWatch Guides
Read our comprehensive guides on the following insurance categories to find top providers and peace of mind that you have all aspects of life covered.
- Leading Pet Insurance Companies
- Top Travel Insurance Companies
- Best Homeowners Insurance Providers
- Leading Renters Insurance Companies
- Affordable Renters Insurance Providers
- Top Term Life Insurance Providers
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Methodology: Our System for Ranking the Best Renters Insurance Companies
Through in-depth research of the industry, we created a comprehensive rating system to rank renters insurance providers. We researched each company by gathering cost information and requesting quotes, combing through policy information, secret shopping and reading customer reviews to understand the customer service experience, and accessing financial reliability scores.
We used these rating factors to determine the best renters insurance companies to help with your decision when looking at policies:
- Cost: 40%
- Availability and ease of use: 25%
- Coverage: 20%
- Brand trust:: 15%
We routinely monitor and update data on a regular basis to ensure the reviews reflect the most up-to-date information and advice. See our full methodology here
A.M. Best Disclaimer
How We Gather Cost Data
We at the MarketWatch Guides Team gathered renters insurance quotes for the providers in this article using data from Quadrant Information Services. Quadrant is a leading source of property and casualty insurance solutions and data.
The sample renter our quotes are based on is a 30-year-old single male with good credit and no prior claims history. Our sample policies featured a $1,000 deductible and the following coverage and limits:
- Personal property: $30,000
- Loss of use: $9,000
- Liability: $100,000
- Medical payments: $1,000
For each provider, we gathered a quote for 50% of the ZIP codes in every state the provider is licensed in. We used the most populous ZIP codes for our study. We took the average of these individual quotes to calculate a national average premium per provider.
In some cases, cost data for a top renters insurance company isn’t offered in Quadrant’s database. To gather price information for these providers, we manually pulled quotes directly from insurers’ websites or representatives. We used the same sample homeowner demographics and comparable policy details for more than 20 ZIP codes across the U.S.
Our sample rates are for informational purposes only. Actual premiums will vary.
*AM Best rating accurate as of April 2024.AM Best disclaimer
Faith WakefieldAuthor
Faith Wakefield is a writer based in North Carolina. She holds economics and English degrees from UNC Chapel Hill, and her work has been featured on EcoWatch, The World Economic Forum and Today’s Homeowner. In her free time, she loves to binge-watch personal finance videos on YouTube, collect books and spend time in nature.
Tori AddisonEditor
Tori Addison is an editor who has worked in the digital marketing industry for over five years. Her experience includes communications and marketing work in the nonprofit, governmental and academic sectors. A journalist by trade, she started her career covering politics and news in New York’s Hudson Valley. Her work included coverage of local and state budgets, federal financial regulations and health care legislation.
