Compare Ogden Utah Renters Insurance Quotes

Best Renters Insurance Ogden UT – Protecting Renters in Ogden

Renters insurance protects your belongings within the personal property that’s up for rent from any unforeseen events. Although it’s not mandatory in many states, your mortgage or insurance company will strongly advise you to purchase renters insurance.

Read more about how renters insurance works, what it covers, and scroll through some average rates that Ogden citizens pay for this type of protection over their personal property.

Is Renters Insurance Required In Ogden UT?

Utah’s law does not require their citizens to purchase renters insurance, however, you’ll find that mortgage companies strongly encourage this type of protection. The main reason for this is “peace of mind.”

Although it’s not legally required, Utah renters insurance can help you cover major losses to the belongings that you’ve spent a lifetime accruing.

What Does Renters Insurance Cover?

Renters insurance policies are comprised of 3 basic components:

• Personal property damage
• Liability coverage
• Additional living expenses

Personal Property

This type of personal property coverage protects the contents of your dwelling. Typical perils include fire, vandalism, theft, electrical and plumbing malfunctions, weather-related damages, and so on. This coverage helps pay for the cost of your damaged items up to the limits of your policy.

Disclaimer:

Policy holders that purchase renters insurance with significantly lower limits risk of not being fully covered.

Liability Coverage

Liability coverage protects you in case you are sued for injury or other damages that have occurred on your property. Liability insurance also helps you pay for the damages that you cause to other individuals, up to the policy limit.

Additional Living Expenses

Additional living expenses offer financial help if the property is inhabitable due to the covered perils. In that case, the policy holder will be provided with finances for temporary housing.

Additional living expenses can cover hotel bills, restaurant meals, temporary rentals, and so on.

Important tip:

This coverage option is applicable only if the policy holder’s property is inhabitable.

What Is Not Covered?

Unfortunately, renters insurance policies do not cover major natural disasters such as:

• Floods
• Sinkholes
• Earthquakes
• Bed bugs and other pests
• Car theft
• Damage to your roommate’s possessions

How Is Renters Insurance Priced?

The following factors can determine the cost of your renters insurance:

• Location: A safer area means a lower cost.
• Coverage limits: Selecting lower coverage options that accurately cover your belongings can lower the price of your insurance policy.
• Number of units in your building: More units means a lower price.

How Much Renters Insurance Do You Need?

The question of how much coverage one needs is individual.

In order to decide on the right policy limit and have enough financial resources to cover property damage, medical payments and other expenses, it would be best to consult with an insurance agent prior to purchasing the policy.

Also, it is recommended that you make a list of high value items that are in your possession.

Average Renters Insurance In 2022

The cost of renters insurance can be a decisive factor for the policy holder, and finding a suitable renters insurance company might be easier than you think.

The average cost of renters insurance in 2022 is:

• $13 on a monthly basis
• $159 on a yearly basis

Cheapest Renters Insurance Companies In Utah

If you’re looking to purchase cheap renters insurance, here are the best cheap renters insurance companies in Utah and their monthly rates:

• Nationwide: $11
• Allstate: $11
• Farmers Insurance: $12
• Average: $14
• Travelers: $15
• Amica: $20

Average Renters Insurance Rates in Utah’s Cities

The renters insurance premium in Utah ranges from $60 to $247. Here are the average annual rates for renters insurance in Utah’s major cities:

• Salt Lake City: $169
• West Jordan: $161
• Ogden: $161
• Provo: $152

Discounts On Utah Renter’s Insurance

Most insurance companies offer various discounts to those who decide to purchase a renters insurance policy. The following discounts are available:

• Multi-policy: If you purchase both auto and renters insurance from the same company.
• Secure home: You are eligible for a 5% secure home discount if you live in a gated community, or you have burglar alarms and other devices on your rental property.
• Claim free: Renter’s insurance policies are cheaper for claim free tenants.
• Good credit: Clients with credit scores higher than 700 will get better renters insurance rates than those with lower credit scores.
• Pay-in-full: Paying in full implies a discount for the client.
• Paperless: Some carriers provide paperless discounts – these are not common with newer carriers.
• Age: Older people may pay less for renters insurance than younger people, such as college students.

Final Thoughts

Renters insurance covers personal property damage (personal belongings and high-value items), offers personal liability protection (medical expenses), and takes care of additional expenses provided your property is inhabitable.

Although the state of Utah does not require this policy by law, an insurance agent will certainly encourage residents in Ogden to purchase one. The costs differ by city and company.

There are discounts available for those who purchase renters and auto insurance together, pay in full, or have a good credit score.

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