Renters Insurance West Virginia
In 2013, the average estimated cost of renters insurance in West Virginia was $222 a year and the homeowners insurance is $930 a year. Therefore, renters insurance is cheaper than most people realize.
Comparing Renters and Owners Insurance in 2013 in West Virginia
In 2012, there were 11291 burglaries reported in West Virginia. The landlord's policy does not cover renter's damages like burglary, and to protect oneself from events like burglary, fire and similar disasters renters insurance is critical.
Renters Insurance Coverage Types:
Actual cash value policy:
The Actual cash value policy covers the depreciated value of loss. For example, a Laptop bought for $890 might be worth only $450 in six months, and that is all one is going to get for it.
Replacement Coverage Policy in West Virginia:
- By means of the same example, the insurance need not necessarily pay for the Laptop, but it will get you enough to buy another laptop of the same kind. In West Virginia, the replacement cost insurance costs around $55.5 more than the actual cash value policy.
- Considering West Virginia median rent of $930 per month, the average renters insurance of $20 per month is 2.15% of median monthly rent.
Estimated Renters Insurance for Different House Types in West Virginia
|House Type||Median Rent||Estimated Renters Insurance|
Deductibles in West Virginia:
Choosing a $500 deductible over a $250 deductible in West Virginia can save average of $24.42 on insurance premium.