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 its prices. The table below shows the average rates from five leading providers in the area for easy comparison.

Average Cost Of Renters Insurance In Cleveland 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 factors influence the cost of renters insurance in Cleveland:

Claim History: If you’ve filed multiple claims in the past, insurers may consider you a higher risk and increase your premiums.

Credit Score: Insurance companies often use credit scores to determine rates, with lower scores typically leading to higher premiums.

Deductible Amount: Choosing a higher deductible lowers your monthly premium, while a lower deductible increases costs since the insurer takes on more risk.

Location: Areas with higher crime rates or risks of natural disasters, such as hurricanes and floods, usually have higher insurance costs.

Coverage Limits: Policies with more extensive personal property and liability coverage tend to be more expensive, especially when add-ons like identity theft protection or replacement cost coverage are included.

Home Safety Features: Installing security systems, smoke detectors, or sprinkler systems can reduce risk and potentially lower insurance costs.

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.