The Best and Cheapest Renters Insurance in Louisiana

Renter’s insurance is a very important way for renters to protect their personal belongings from loss or damage. Whether you’re part of a family or a college student, the importance of having renters insurance cannot be overemphasized.

There are several insurance companies in West Virginia that offer renter’s insurance. The biggest question among renters is generally, “What is the best and cheapest renters insurance in West Virginia?” This overview should answer all your questions.

Why Renters Insurance is Important for College Students

Renters insurance is very important for college students living off campus. Students seldom realize how much they own or its value. If they experienced a disaster and lost everything, they would have to replace them out of their own pockets without insurance.

College students are often struggling financially and don’t need this added expense. This is why college students should have renter’s insurance. However, with a little research and diligence, they can find the best and cheapest renters insurance in West Virginia.

College Burglary Statistics for West Virginia Students

West Virginia is the tenth-smallest state in the United States and only has about 44 colleges and universities. Despite the small number of colleges, crimes are still committed against West Virginia college students. Below are a few of the crimes committed against West Virginia college students according to a 2018 report by the F.B.I.

• Marshall University – 3 burglaries, 97 larceny/theft, and 100 property crimes
• West Virginia University – 7 burglaries, 150 larceny/theft, and 160 property crimes
• Fairmont State University – 6 burglaries, 23 larceny/theft, and 29 property crimes
• Concord University – 2 burglaries, 5 larceny/theft, and 7 property crimes
• Shepherd University – 2 burglaries, 16 larceny/theft, and 18 property crimes
• West Virginia State University – 5 burglaries, 17 larceny/theft, and 22 property crimes
• Potomac State College – 4 burglaries, 7 larceny/theft, and 11 property crimes
• West Virginia Tech – 0 burglaries, 16 larceny/theft, and 16 property crimes

Below you will find a list of the safest college campuses in West Virginia along with the cities in which they’re located.

• Bluefield College in Bluefield, WV
• West Liberty University in West Liberty, WV
• Shepherd University in Shepherdstown, WV
• Wheeling University in Wheeling, WV
• West Virginia Wesleyan College in Buckhannon, WV
• West Virginia University Institute of Technology in Beckley, WV
• University of Charleston in Charleston, WV
• Alderson Broaddus University in Philippi, WV

How Much Does Renters Insurance Cost?

One of the most commonly asked questions by West Virginia college students is, “How much is renters insurance in West Virginia?” This answer varies from city to city and from insurance company to insurance company.

It’s important that college students shop around. Factors that affect the premium include:

• Type of coverage
• Amount of coverage
• Deductible
• How they reimburse you (actual cash value or actual replacement cost)
• Type of home and its construction

Renters who have safety features like smoke alarms or burglary alarms typically get discounts. Discounts the company offers can also lower your bill.

How Much is Renters Insurance in West Virginia?

Once you start looking at various quotes, you notice how different they can be from one company to another. Your final premium will be based on the coverage you choose and if you choose any add-ons or insurance enhancements, such as extra coverage for expensive items, flooding coverage, and roommate coverage, among others.

To give you an idea, we’ve put together some sample quotes for a 20-year-old male college student living off campus. The premiums are for five different West Virginia cities and are based on a policy with this coverage.

• Personal possessions – $50,000
• Medical payments for others – $1,000
• Personal liability – $100,000
• Loss of use or additional living expenses – $15,000
• Deductible – $500

Here are the premiums from five different cities.

The Best and Cheapest Renters Insurance in West Virginia

As you probably noticed, the premiums are quite similar for all five states. Therefore, renters should really read the fine print to see the coverage differences between each one. Finding the best and cheapest renters insurance in West Virginia is finding one that’s not just affordable but also offers the coverage you need. It’s also important to read reviews on each company.

Allstate Insurance

Allstate has been providing insurance for many years, and this includes renters insurance. They are highly regarded by Forbes and U.S. News & World Report. They don’t offer quotes online but do state an average cost for their basic renter’s insurance is about $16 per month. Allstate offers many discounts and boasts of a very online claim process.

State Farm Insurance

State Farm Insurance offers good renters insurance and various add-ons for renters who need just a little more insurance. You can handle your claims in person, over the phone, and online. They’re also highly ranked by companies like BBB, AM Best, and U.S. News & World Report, among others. Included in your renter’s policy is extra coverage for things like jewelry, firearms, business property, and goldware/silverware. For about $17.84 per month, renters can get insurance with this coverage.

• $50,000 Personal Property
• $100,000 Personal Liability
• $1,000 Medical Payments
• $500 Deductible

Liberty Mutual Insurance

You won’t typically find the high coverage amounts online with Liberty Mutual Insurance as with other companies, but you will find very affordable renters insurance. They get an A rating from AM Best for their service, coverage, and affordability. Claims can be filed online or through the mobile app. You can purchase the following amount for about $19 per month.

• $25,000 Personal Property
• $100,000 Liability
• $1,000 Medical Payments
• $5,000 Additional Living Expenses
• $500 deductible

Progressive

Progressive may be a good choice for renter’s insurance. Nerd Wallet and U.S. News & World Report rate Progressive very highly. You can submit your claims in person, online or on the phone. They generally handle claims very quickly. You can get the following coverage for about $24 per month.

• $50,000 Personal Belongings
• $100,000 Personal Liability
• $1,000 Medical payments for others
• $500 Deductible

Amica Insurance

Amica Insurance is widely used by adults and college students. They have very good coverage and also pay replacement value. You can submit your claims online or over the phone. You can choose to get your reimbursement in your savings/checking account or through PayPal.

Their price may be a little higher than other companies, but they offer various discounts and also offer many add-on policies for those little things that aren’t included in the basic policy. You can get the following coverage for about $41 per month.

• $50,000 for personal property
• $300,000 for personal liability
• $2,000 for medical payments for others
• $500 deductible
• $15,000 loss of use

Nationwide Insurance

It’s easy to see why they say Nationwide is on your side. They’re rated highly for their in-depth coverage and additional coverage add-on options. Their claim process is very simple and straightforward. However, they do not offer their prices online. You need to contact an agent to get an accurate price.

Lemonade Insurance

Lemonade insurance is known for offering good coverage at a good price. However, the bad news is that they don’t currently offer renters insurance in West Virginia. They advertise that this may change in the future so renters should check back frequently.

The cost of renters insurance in West Virginia is lower than the national average. Based on the six companies we researched, here are the lowest to highest priced companies.

Cheapest Renters Insurance in West Virginia

1. Allstate – $16 per month
2. State Farm – $17.84 per month
3. Liberty – $19 per month
4. Progressive – $24 per month
5. Amica – $41 per month
6. Nationwide – must call agent

What Does Renters Insurance in West Virginia Cover?

Renters’ insurance in West Virginia covers perils like tornados, fire, lightning, theft, thunderstorms, burglary, and identity theft. They also offer additional living expenses. Although there may be some variances, renters insurance policies usually offer the following coverage.

• Personal property or belongings
• Personal liability
• Medical payments
• Additional living expenses

While these are the basics, some policies offer additional types of coverage like mold liability, mold damage, and sewer/sump pump damage.

What Does Renters Insurance in West Virginia Not Cover?

Like most types of insurance, there are certain things that are not covered with renters insurance. For instance, earthquakes and floods are not covered. Renters who live in areas where earthquakes or flooding are common can purchase a specific policy for this extra coverage. Your renter’s insurance in West Virginia will cover theft or burglary but will typically not pay for accident breakage or damage.

Another thing potential renters should consider is what type of reimbursement the company offers. If they offer actual replacement costs, they’ll pay you what it costs to replace the items. If the company only pays actual cash value, they will only pay what the items are worth at the time of loss and not what you paid for them. Renter’s insurance in West Virginia will also not pay for expensive items unless they are covered under an additional rider.

For instance, you have $2,500 in computer equipment, which is destroyed in a fire. If their max is $1,500, you would have to pay the additional amount. They generally also will not cover a roommate’s property or structural damage. It’s important to talk to your agent to learn what they will and won’t pay.

Closing Thoughts

Although it may seem like a lot of work, the best way to find the best and cheapest renters insurance in West Virginia is by researching different companies, talking to the agents, and comparing prices for the different coverages. It’s also very important to know what type of insurance you need and how much. You don’t want to be over- or under-insured.