Nearly all U.S. homeowners have insurance, but less than half of renters have renters insurance. Living in an apartment or rental home and not carrying renters insurance is a significant financial risk. Our partners at ConsumerAffairs researched the best renters insurance in Omaha so you have coverage for personal property, liability and additional living expenses.
The share of households renting in Omaha is slowly rising: As of 2017, it’s right around 35 percent, according to the U.S. Department of Housing and Urban Development.
Renting an apartment or home frees you from many of the responsibilities of homeownership, like maintenance issues. But you still need to be prepared in case your personal property is damaged or stolen or if you are held legally responsible for an accident. Usually, the landlord’s insurance will not help in these situations.
The standard renters insurance in Omaha comes with three different types of coverages.
What it covers
Actual cash value or replacement costs of your personal belongings if a peril (e.g., fire or smoke, theft, lightning, windstorm) causes damage or loss, home or away
Legal costs, medical bills and property repair or replacement if you, a child or pet is responsible for accidental bodily injury or property damage
Additional living expenses
Necessary living costs (e.g., hotel, meals) beyond your normal spending if a covered event forces you out of a rental
Each type of coverage carries a total limit the insurance company will pay out. Personal property coverage also has a deductible and may cap per-item coverage. When choosing a policy:
Consider coverage limits carefully. Take an inventory of your personal belongings, and think about the total value of your assets. Most renters choose at least $20,000 of personal property coverage and at least $100,000 of liability coverage.
Choose a deductible based on how much you can afford to spend out of pocket. The higher the deductible, the lower your premium will be.
Decide on actual cash value versus replacement cost coverage. Actual cash value covers personal property up to current market value, including depreciation. Replacement cost coverage helps you replace personal property with brand-new items at current retail prices.
Make sure you have additional coverage, called scheduled personal property, for especially valuable possessions like jewelry, fine art and electronics.
How much is renters insurance in Omaha?
Renters insurance in Omaha costs, on average, $12 - $13 per month. Your monthly premium depends on where you live, the coverage types and limits, the deductible, and your claims and credit history.
Omaha renters should ask about discount opportunities. Renters insurance companies in Nebraska offer savings for bundling renters and auto policies, having home safety features, paying premiums automatically or being claim-free.
When you buy renters insurance in Omaha, be aware that most policies do not cover floods. Omaha’s location in the Missouri River Valley means renters’ personal property is vulnerable to flood damage. Ask an agent about the option of purchasing a separate flood insurance policy.
Policygenius is an online, independent insurance broker that has protected customers across the U.S. with over $25 billion in coverage. Get advice on coverage limits and review clearly explained quotes for renters insurance in Omaha from highly rated companies. Discounts and extra coverages are available. Omaha reviewers include many satisfied customers who say Policygenius is easy to use.
EverQuote is an online marketplace matching consumers with top insurance providers. Put in a few details about your rental apartment or home, and you’ll be comparing rental insurance offers from Omaha agents within minutes. According to reviews in Nebraska, EverQuote has policies for all types of needs and budgets.