Cheapest & Best Renters Insurance In Cleveland 2025

Grange Mutual has the cheapest renters insurance in Cleveland, OH, with rates averaging around $9 per month. If you’re more focused on strong local agent support and a wider range of coverage options, State Farm is a great alternative—though it comes with a higher monthly cost of about $14.

Known as The Forest City, Cleveland sees over 17,000 property crimes annually, affecting around 48 out of every 1,000 people. Given the area’s crime rate and potential for natural disasters, renters insurance is a smart way to protect your personal items and gain some financial peace of mind.

Cheapest Renters Insurance Companies In Cleveland

If you’re looking for low-cost renters insurance in Cleveland, Grange Mutual stands out with the most affordable rates—averaging just $9 per month. To make it easier to weigh your options, the table below highlights the five cheapest insurance providers in the area.

Best Renters Insurance Companies In Cleveland

Grange Mutual is a solid pick for renters in Cleveland who want low-cost insurance. Still, the most affordable option doesn’t always mean the best in terms of coverage and customer support. In my view, State Farm takes the lead as the top overall provider. With the biggest network of local agents in Cleveland, it’s easy for customers to get help with buying a policy or filing a claim. Plus, State Farm offers a broad range of coverage choices at reasonable prices.

Average Cost Of Renters Insurance In Cleveland

On average, renters in Cleveland spend around $22 per month—or about $264 per year—on insurance. However, your actual cost may be higher or lower depending on things like your coverage limits, where you live, your deductible, and how each insurer sets their prices. The table below shows the average rates from five leading providers in the area for easy comparison.

Average Cost By Deductible

A deductible is the amount you agree to pay out of pocket before your renters insurance starts covering a claim. Opting for a higher deductible usually means a lower monthly premium, while a lower deductible often results in higher monthly payments. The table below shows how renters insurance rates in Cleveland vary depending on the deductible you choose.

Factors That Impact Renters Insurance Costs In Cleveland

Several key factors affect how much renters insurance costs in Cleveland:

Claim History: Having a history of multiple claims can label you as a higher-risk customer, which often results in increased premiums.

Credit Score: Insurers often consider your credit score—lower scores can lead to higher insurance costs.

Coverage Amounts: Plans that include extra features like replacement cost coverage or identity theft protection, or that have higher coverage limits, usually cost more.

Home Security Features: Safety additions such as smoke detectors, sprinkler systems, or alarm systems may reduce risk and help you qualify for discounts.

Where You Live: Residing in neighborhoods with higher crime rates or exposure to natural disasters like floods or tornadoes can drive up your insurance rates.

Your Deductible: Opting for a higher deductible can reduce your monthly payments, while a lower deductible typically increases your premium.

What Does Renters Insurance Cover In Cleveland?

Renters insurance gives you important financial protection by covering a range of risks. Most policies generally include the following main types of coverage:

Additional Living Expenses (ALE)

Pays for temporary housing, food, and other living costs if you’re forced to move out due to a covered incident, like a fire.

Medical Payments to Others

Offers limited coverage—typically between $1,000 and $2,000—for medical bills if a guest is injured in your rental, no matter who’s at fault.

Personal Property Coverage

Protects your belongings, such as clothes, furniture, and electronics, against losses from theft, fire, or certain kinds of water damage (but not floods).

Liability Protection

Helps cover legal fees and medical bills if you’re found responsible for someone else’s injuries or property damage.

What Does Renters Insurance Not Cover In Cleveland?

Although renters insurance offers valuable protection, it doesn’t cover everything. Here are some common exclusions and limitations found in most standard policies:

Car Theft or Damage

Renters insurance doesn’t apply to personal vehicles. You’ll need auto insurance to cover car-related losses.

Pest Infestations

Issues caused by termites, bedbugs, or rodents are seen as maintenance problems and typically aren’t covered.

Flooding

Standard policies exclude flood damage. Since Cleveland can experience flash floods, you may want to consider separate flood insurance or an add-on.

Intentional Damage

Any harm caused deliberately by you or someone in your household won’t be covered by your policy.

High-Value Items Above Coverage Limits

Costly belongings like jewelry, fine art, or collectibles may go beyond the limits of a standard policy. You can add extra coverage through a rider or endorsement.

Business-Related Losses

If you operate a business from your rental, losses related to business equipment or liability usually aren’t covered unless you have a specific business policy.

How Much Should Students Pay For Renters Insurance In Cleveland?

In Cleveland, students typically pay between $15 and $25 per month for renters insurance, with rates depending on their coverage needs. Factors like location, the value of personal items, and any optional add-ons can affect the final price.

Off-campus students usually have higher premiums because they have larger living spaces and more risk exposure, while those living in dorms often pay less due to shared housing being cheaper to insure.

When selecting a policy, it’s important to think about the value of your belongings. While standard renters insurance covers most items, students with pricey electronics or other valuable possessions might need extra coverage. Additionally, many insurers offer discounts for bundling renters and auto insurance, which can help students save money.

How Much Renters Insurance Do I Need In Cleveland?

When selecting renters insurance in Cleveland, the first step is to assess the value of your belongings. Most policies cover between $20,000 and $40,000, which works for many renters. However, if you own high-end electronics, luxury furniture, or expensive jewelry, you may need extra coverage.

Liability protection is also an important factor to consider. Standard policies typically offer $100,000 in liability coverage to help cover legal or medical expenses if someone is injured in your rental. Increasing this limit can offer additional financial protection.

Your deductible affects your premium as well. A higher deductible reduces your monthly payments but means you’ll pay more out of pocket if you need to file a claim.

Finally, check if your policy includes Additional Living Expenses (ALE) coverage. If a covered incident forces you to leave your rental, ALE will help with temporary housing and other necessary living costs.

Can Landlords In Ohio Require Renters Insurance?

While renters insurance isn’t legally required in Ohio, many landlords make it a condition of the lease. This arrangement benefits both tenants and landlords: tenants get protection for their belongings, and landlords reduce their liability exposure. Most apartment complexes in Cleveland ask for proof of renters insurance before they approve a lease.

If your lease includes this requirement, you may need to show a policy declaration page or a certificate of insurance. Some landlords also set minimum coverage levels, often requiring at least $100,000 in liability coverage. Failing to meet these requirements could result in penalties or even lease termination.

Even if renters insurance isn’t mandatory, it’s still a wise investment—especially in Cleveland, where property crime is prevalent and natural disasters like floods and tornadoes are a real threat. A policy provides protection for your personal items and offers financial security in case of unexpected liability claims.

Bundle Renters With Auto Insurance

Bundling renters and auto insurance is a smart way to save money, as many insurers offer discounts when you combine both policies. On average, renters can lower their premiums by 5% to 6%, while also benefiting from improved customer service and loyalty perks. Erie and State Farm offer the best bundled rates for both auto and renters insurance in Cleveland.

This option works particularly well for renters who already have auto insurance. Keeping both policies with the same provider makes billing easier, streamlines account management, and may offer benefits like flexible payment plans or higher coverage limits.

However, it’s crucial to shop around before bundling. While combining policies can lead to savings, make sure both insurers offer the coverage you need at a competitive price before committing.

Common Causes Of Loss In Ohio

Renters in Ohio often file claims for incidents like fire, theft, water damage, storms, and floods. Understanding these risks can help tenants choose the right insurance coverage to protect their belongings and finances.

Fire

Fires, especially in multi-unit buildings, can spread quickly and cause severe damage. Renters insurance helps replace personal items lost in a fire.

Theft

With more than 17,000 property crimes reported annually in Cleveland and over 197,000 statewide, renters insurance is essential. It covers stolen belongings and may include liability protection if someone is injured during a break-in. However, damage to vehicles or the rental unit itself is typically not covered.

Floods

Cleveland is prone to flooding, but standard renters insurance doesn’t cover flood damage. Separate flood insurance is recommended for added protection, and many insurers offer affordable flood add-ons with your renters policy.

Water Damage

Plumbing leaks, burst pipes, and roof issues can cause significant damage. Standard renters insurance covers internal water damage, but flood-related damage requires separate coverage.

Tornadoes and Storms

Ohio frequently experiences tornadoes and strong winds, which can cause substantial damage. Most renters insurance policies cover damages from tornadoes and storms, so additional tornado insurance is usually not necessary.

Other Covered Losses

Many policies also provide coverage for vandalism, accidental damage, and some natural disasters, offering extra financial security.

By understanding these risks, renters can make informed decisions and choose a policy that provides comprehensive protection.