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Westerville renters insurance is an oft-overlooked resource for people who rent their homes, but being covered by an Ohio renters insurance policy is important to protect your property and assets. People who own their homes are required by mortgage lenders to have homeowners insurance, but no such requirement exists for most renters. Unlike homeowners, renters have a landlord or property manager to pay for structural damage after a storm or other disaster, which lulls them into a false sense of security that the contents of their rental unit are covered as well. Not so. You are responsible for the loss or damage to your belongings, and Westerville renters insurance can help you recover that loss after a disaster.

Westerville is a city in central Ohio situated 15 miles north of the capital, Columbus, OH. The city is something of a Columbus suburb where people looking to escape the traffic and high housing costs of the city can enjoy a quieter way of life with all the amenities close by. The fluctuation of the housing market is driving many people to rent, and Westerville renters insurance should factor into their expenses.

There are four primary components of an OH renters insurance policy, which is a form of homeowners insurance known as HO-4. The first HO-4 coverage is personal property. Next, the policy covers the costs of an alternative living arrangement if the rental unit is rendered unlivable by a named peril. HO-4 also provides liability coverage is someone experiences injury or property damage at your home and sues you for negligence. Finally, your policy covers reasonable medical expenses for people injured on your property.

Liability Coverage

Most of us are familiar with liability coverage when it comes to our OH car insurance policies, and liability for Westerville renters insurance works in much the same way. If someone is injured at your home, they could sue you for negligence. For instance, if a neighbor slips on your icy steps, he could argue that your failure to shovel makes you liable. In this case, you will have a settlement or judgment to pay if he wins the suit, and legal fees either way.

Westerville renters insurance helps alleviate the costs and time associated with a negligence suit. The provider will provide a Westerville attorney to act as the liaison with the injured party and negotiator of a settlement. The attorney will likely have better luck at either making sure the judgment is in your favor or negotiating a reasonable settlement to bypass the courts entirely.

Once it is determined how much you owe the injured party, your coverage will pay up to your limit. Standard policies carry a liability limit of $100,000, and this can be increased if you own significant assets or want more peace of mind. People today are quick to sue, so liability coverage alone makes Westerville renters coverage worthwhile. Another form of HO-4 coverage pays for reasonable medical expenses for people injured at your home who do not sue. This is a more favorable scenario for you, and coverage usually begins at $10,000.

Shopping for a Policy

You can probably name at least three mascots or mottos for car insurance companies. Most of these companies also sell renters policies, and your Ohio auto provider is usually the best place to start shopping. Most companies provide a nice discount when clients add policies. If you are starting from scratch, you will need to do a little more research to get the most coverage at the best price.

Striking a balance between price and service will maximize your satisfaction with your Westerville renters insurance. Make sure you compare renters insurance rates from at least four Westerville providers, as rates can vary substantially for the same amount of coverage. Start by checking out the state of Ohio records of consumer complaint ratios. Most state boards of insurance keep records of the number of customer complaints per 1,000 policy claims. Providers with a high number could give you the run-around when you need to make a claim.

Ask your Westerville landlord or property manager about residents' experiences with Westerville renters insurance. They may have an idea of which companies honor claims and which make it difficult to get compensation. You can also read online reviews, but keep in mind that these usually represent only the extremely good or bad experiences. Unbiased sources of consumer satisfaction data like J.D. Power & Associates and "Consumer Reports" are also valuable resources.

Westerville renters insurance can save you money and headaches following a disaster or break-in. Start comparing rates today to find the Westerville company that meets your needs. Coverage is very inexpensive, and policies are tailored to cover your particular belongings. Fill out our easy-to-use form for a free quote and more information on Westerville renters insurance.