Renters Insurance Idaho

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The average estimated cost of a rental insurance policy in Idaho was $156 a year in 2013. Renters insurance is cheaper than most people realize; average homeowners insurance is $510 a year in Idaho

Comparing Renters and Owners Insurance in 2013 in Idaho

The landlord's policy is not going to cover renter's damages like burglary of renters possessions. There were 7186 burglaries are reported in Idaho in 2012. So, to make sure you're protected from these events like fire, burglary or other disaster, you may need renters insurance.

Renters Insurance Coverage Types:

Actual cash value policy:
The depreciated value of the loss is covered by the actual cash value policy. For instance, the LCD TV you bought for $6920 may be only worth $3460 six months later and that is the value you will get for it.

Replacement Coverage Policy in Idaho:

  • Using the same example, the insurance may not necessarily pay for the laptop, however you will get sufficient amount to buy another LCD TV same as the lost/damaged one. The replacement cost insurance in Idaho costs around $39.0 more than the actual cash value policy.
  • Considering Idaho median rent of $800 per month, the average renters insurance of $10 per month is 1.25% of median monthly rent.

Estimated Renters Insurance for Different House Types in Idaho

House Type Median Rent Estimated Renters Insurance
Single Fam $910 $172
Duplex $650 $123
One Bed $500 $95
Two Bed $680 $129
Three Bed $930 $176
Four Bed $1,150 $218
Many Bed $730 $138

Deductibles in Idaho:

By opting for a $500 deductible over a $250 deductible, an average of $17.16 can be saved on the insurance premium.