Renters Insurance Delaware
In 2013, the average estimated cost of renters insurance in Delaware was $186 a year. Compared to that the average homeowners insurance is $780 a year in Delaware, thus renters insurance is cheaper than most people realize.
Comparing Renters and Owners Insurance in 2013 in Delaware
The landlord's policy does not cover renter's damages like burglary. There were 7371 burglaries reported in Delaware in 2012. So, to protect one from events like fire, burglary or other disasters renters insurance is required.
Renters Insurance Coverage Types:
Actual cash value policy:
This policy covers the depreciated value of the loss. For instance, that Personal Computers you bought for $750 might only be worth $380 six months later – and that's all you're going to get for it.
Replacement Coverage Policy in Delaware:
- In that same example, you won't necessarily get what you paid for your Personal Computers, but you'll get enough to buy another one just like it. Replacement Cost Insurance in Delaware costs about $46.5 more than the Actual Cash Value policy.
- The average renters insurance of $20 per month is 1.74% of median monthly rent, taking into account Delaware median rent as $1150 per month.
Estimated Renters Insurance for Different House Types in Delaware
|House Type||Median Rent||Estimated Renters Insurance|
Deductibles in Delaware:
In Delaware, by choosing a $500 deductible over a $250 deductible, an average of $20.46 can be saved on the insurance premium.