Living in Delaware opens up many opportunities. Delaware is within driving distance of some of the United States' most popular cities, and has some of the most beautiful coastlines in the nation.
Delaware's residents enjoy a lively arts culture, along with incredible shopping and fine cuisine. Delaware does, however, have some of the most expensive real estate in the nation. For many, renting is the perfect solution. When renting an apartment or home in Delaware, it's crucial to have renters insurance covering your belongings, in case of a disaster or a crime.
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Delaware Living Facts at a Glance
- Delaware had 5,020 violent crimes in 2012, along with 30,639 property crimes.
- The chances of being a victim of a crime in Delaware are higher than the national average.
- The average monthly rent for a one-room apartment in Delaware is $1,100.
- In 2009, only 12.4 percent of apartments were vacant.
With such high crime rates, along with a history of deadly storms, many individuals and families renting homes or apartments are concerned about the safety of their belongings. Some residents believe that their belongings are covered under the owner's insurance policy, although that's most likely not true. You must have renters insurance in order to have protection for your assets and belongings in your Delaware rental.
What is Renters Insurance in Delaware?
Renters insurance is an insurance policy specifically designed to cover your belongings and your risks as a tenant. A typical renters policy can include the following:
Renters liability insurance: Renters liability insurance protects you, as a tenant, from the huge financial costs that may come your way if someone is injured on your property. Even small lawsuits like a dog bite or a slip-and-fall can be costly. Renters liability also covers damage you may cause to other people's property.
Renters property insurance: A typical apartment tenant owns at least $10,000 in assets. If your apartment or home is broken into, or suffers damage from fire, wind, or hail, you may have to replace those assets out of pocket. A renters property insurance policy is designed to cover your belongings from damage.
Relocation assistance: If your apartment is damaged and becomes un-inhabitable, this insurance will cover your costs for living in a temporary location until the property is repaired.
How Much Does a Renters Insurance Quote Cost in Delaware?
There isn't a cut-and-dried exact number for the cost of a renters insurance policy in Delaware. However, in 2010, the average cost of a renters insurance policy in the U.S. was $185 per year.
A renters insurance policy may vary in cost due to your individual factors. When shopping for renters insurance quotes in Delaware, be sure to have the following basic information ready:
- Location of rental
- Size of rental
- Number of tenants
- Credit score
- Value of assets
- Preferred coverage amount
- Preferred coverage types
- Preferred deductible
When covering your assets with a renters insurance policy, be sure to have an accurate value of your personal belongings, along with a good idea of what your monthly expenses are in order to get sufficient relocation assistance coverage.
Are There Discounts Available for Renters Insurance in Delaware?
Typically, there are discounts available for every insurance policy - renters insurance included. When shopping for Delaware renters insurance quotes, be sure to ask about discounts. Discounts available may include:
- Multi-policy discount
- Claims-free discount
- Good student discount
- Good credit discount
- Paid in full discount
- Security system discount
- Military/industry affiliation discount
This list is not exhaustive, so be sure to ask your agent about any discounts you may not be aware of.
How Do I Get Renters Insurance in Delaware?
When making the important decision to protect your assets with renters insurance, you may have more questions than answers. A Trusted Choice® agent is always available to help talk you through coverage options, discounts, and even file a claim. Find an agent near you to get more information.