Top 5 Renters Insurance Companies in Washington, DC
Here are the top renters insurance providers in Washington, DC:
For this article’s coverage and pricing information, our team pulled quotes for a 450-square-foot condo in Washington, D.C. Your rates, deductible, and available coverage may vary based on the size, type, and location of your home, applicable deductibles, and your risks. The profile, plan and endorsements you have chosen.
What is the average cost of renters insurance in Washington, DC?
According to the ThirdIn Washington, D.C., renters insurance premiums fall in the average range compared to other states. It has the 30th most expensive renters insurance rates in the country. The average cost of a renters insurance policy is $158 per year or $13.17 per month. Here are some common factors that affect renters insurance costs:
- coverage: Many providers allow you to customize the limits of your coverage policy. Your monthly premium will increase or decrease depending on how much protection you need.
- location: Providers take into account the location of your home when pricing your renters policy. You’ll pay more for your policy in areas with high crime rates or inclement weather.
- Coverage type: Some providers allow you to choose an actual cash value or replacement cost value policy. Replacement cost value plans are more expensive because providers pay more for covered items per insurance claim than actual cash value plans.
What does renters insurance cover?
Renters insurance coverage protects policyholders against various covered losses.
- Additional living expenses: This is also known as loss of use coverage. This type of coverage reimburses you for expenses you incur because your home becomes uninhabitable. An example of an uninhabitable home is a flooded home.
- Liability Coverage: Liability coverage covers expenses associated with legal issues or damage you cause to someone’s property. For example, liability coverage will cover the cost of rebuilding your property owner’s fence if you are at fault for the damage.
- Coverage of medical payments for others: This type of coverage compensates you for bodily injuries that occur on your property to you or a guest.
- Personal property coverage: Personal property coverage protects your valuables from covered losses, such as fire or wind damage, theft, and vandalism.
What risks do renters in Washington, D.C., face most?
Washington, D.C. is facing stormy weather and other natural disasters. Below is a list of the most common risks renters may face in the nation’s capital.
- Floods: Floods are a common hazard in the Washington, D.C., area due to heavy rainfall and proximity to the Potomac River. Some providers offer flood damage coverage as an endorsement. We recommend purchasing the amount of flood coverage you need to protect your valuables.
- Forest fires: Wildfires do not pose a significant risk to renters in Washington, D.C. due to the lack of dense vegetation in the city itself. However, if you live in the northern suburbs of Washington, D.C., consider a renters insurance company that offers robust fire coverage. There is a high possibility of forest fires in that area.
Our conclusion
We named Lemonade a top pick for Washington, D.C. renters due to its affordable rates and customizable coverage. State Farm is another solid option for those who want extra protection for valuables. Liberty Mutual is worth considering for budget-conscious renters thanks to its unique discounts. Before you sign up, pull quotes from three providers to compare coverage and costs.
Our evaluation methodology
The Quartz Reviews team evaluates providers using comprehensive review criteria to score each company. Our review criteria compares relevant factors such as cost, coverage, customer experience, technology and reputation, which total up to 100 points. In addition, we reviewed provider websites and customer access features and tools; Talk to the actors. Get sample quotes and policy terms; Analysis of AM Best and JD Power ratings; And review online customer reviews for each provider.