UPDATED: DECEMBER 06, 2022 | 2 MIN READ
If you’re renting in Delaware, it’s essential to consider getting renters insurance. These policies aren’t mandatory in the state; however, having one provides peace of mind that your personal property is protected in the case of fire, theft, or other damage. Learn more about what type of coverage you need when getting renters insurance in Delaware.
What is renters insurance, and what does it cover?
Renters insurance covers you financially if your property is damaged, lost, or subjected to vandalism. The liability coverage included covers you if you’ve been responsible for any damage done to a property. It offers personal liability coverage and personal property coverage. It can include medical payments. This is when medical expenses are covered in the event of an incident in the rental property.
How do prices in Delaware compare to the national average?
The state’s renters insurance providers’ prices compare well to the national average. State Farm offers a policy for $18 a month or $211 for a yearly policy. The national average is $215.
Is renters insurance mandatory in the state?
Delaware renters don’t have a legal obligation to buy renters insurance coverage. However, landlords may request it for their rental property as their insurance policy doesn’t cover your personal belongings.
What factors impact my renters insurance quote?
The types of insurance quotes you will receive or will need depend on many factors. Getting a renters policy depends on your location, the coverage you want, your marital status, any valuables you possess, your insurance history, and if you’ve had any claims.
What are the best renters insurance companies in the state?
State Farm, Amica, and Average are the top three cheapest Delaware renters insurance providers.
Best renters insurance company for customer service
State Farm and Amica are rated highly for their customer services for people looking for renters insurance quotes.
Best renters insurance cover for retirees
Allstate offers the best renters insurance quotes for retirees. This insurance company offers generous discounts for retired people. Those over 55 years old can save up to 25% on their insurance quote.
What does Delaware renters insurance cover?
Ensure you know what your policy covers when you get a renters insurance quote from your insurance provider. A basic policy covers you if anything happens to your personal property. It also covers things like additional living expenses, loss of use, liability insurance, and any medical payments you may incur. Coverage for personal property can help provide cover if a windstorm or hail causes damage.
What doesn’t renters insurance cover?
A good insurance policy covers various emergencies, so look for what your policy covers. Look into a comprehensive policy should you need it, especially if you have a lot of valuables. Some of the things renters insurance doesn’t cover include flooding, earthquake damage, roommate belongings, and property and structural damage.
Cheapest renters insurance companies in the state
State Farm, Amica, and Allstate are the state’s top three cheapest renters insurance companies. These are the monthly prices per insurance provider:
- State Farm: $10
- Amica: $13
- Allstate: $18
- Nationwide: $23
- Travelers: $23
Expensive renters insurance coverage by city
Dover is the most expensive city in Delaware to get a renters insurance quote, at an average of $237 annually. However, it’s only marginally more expensive than other cities.
Cheapest renters insurance coverage by city
The three cheapest cities in Delaware for renters insurance are Bears, Claymont and Clayton.
- Bear: $194
- Claymont: $217
- Clayton: $224
What are the largest renters insurance companies in Delaware?
State Farm has the state’s largest market share for renters insurance coverage. They have 25% of the market in the state. Liberty Mutual and Nationwide are the state’s second and third-largest insurance providers. If you ever need to make a renters insurance claim, you’ll have peace of mind knowing you’re dealing with a reputable company.
What is the cheapest renters insurance policy in Delaware?
Renters in Delaware can expect to pay an average of $10 per month from State Farm when they look for a renters insurance quote.
What amount of coverage do I need in Delaware?
A basic policy covers personal property and personal liability coverage. Some also cover medical payments. You can add other extras depending on your circumstances. Look for any deductibles that may be available.
What is the best renters insurance company for coverage in Delaware?
State Farm is the best for price and for customer service. Allstate is also another good option to look into for affordable renters insurance coverage.
Is renters insurance mandatory in Delaware?
Renters insurance coverage isn’t mandatory in Delaware. However, landlords may ask for it before they offer you a rental contract.
Finding the best renters insurance in Delaware
Delaware renters can find competitive prices when looking for the cheapest renters insurance. The price depends on the amount of coverage you seek, however, renters insurance coverage in Delaware is below the national average. Get several renters insurance quotes to compare rates today.