Washington, DC may be the most famous city in the United States. It's the hub of political movement in the nation, and it's close to many of the nation's leading companies.
The city attracts young and old, with a fast-paced life and a wide array of opportunities. Tourists flock to Washington, DC to get a glimpse of the Washington Memorial, the Capitol building, or the White House.
The cost of living in DC can be high. The city consistently ranks in the top 10 most expensive places to live. When you're paying so much for a rental space, it's crucial to protect your belongings and your financial well-being with renters insurance.
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Life in Washington, DC
- Washington, DC has one of the highest average rental prices in the U.S., at an average of $2,190 for a one bedroom apartment.
- Over 30% of the city's residents are renters.
- The average commute time is 26.5 minutes.
- A monthly utility bill is usually over $150.
Living in Washington, DC offers residents some unique opportunities. With many cheap or free things to do, families, single people, and retirees alike enjoy the city and what it has to offer.
Unfortunately, this city has an extremely high crime rate. As a resident, you have a 1 in 80 chance of being a victim of a crime. While you can take measures to protect yourself, having renters coverage for your belongings can help you recover quickly if a crime occurs.
What is Renters Insurance?
Renters insurance offers Washington, DC residents protection from the most common types of crimes and lawsuits. A typical renters policy may resemble the following:
- Liability insurance: Liability insurance is there to protect you against lawsuits and negligence claims. If someone is hurt or injured on your property and you're found to be at fault, you could be on the hook for medical payments or judgments. Liability insurance can help pay for your defense, and even protect you from lawsuits in the first place.
- Personal property: Many renters believe that their personal belongings are protected by the property owner's insurance. Unfortunately, this is untrue. Personal property insurance is there to protect your belongings from events like theft, vandalism, or fire.
- Relocation assistance: Disasters happen. If your rental is damaged, and you're unable to live there, relocation assistance can help you find a place to live until the repairs are finished.
How Much Is a Quote for Washington, DC Renters Insurance?
The average cost of a renters insurance policy is anywhere from $15-$30 per month. Your price quote may vary, however, due to individual factors. When you're shopping for renters insurance with different DC insurance companies, be sure to have the following information ready in order to get the most accurate quote:
- Location of rental
- Size of rental
- Number of residents
- Value of belongings
- If there is a security system
- Desired coverage
- Desired deductibles
All of these factors, including more, will be used to calculate your rate quotes.
Are There Discounts Available on Renters Insurance?
There are usually discounts available on most insurance policies, with renters insurance included. When shopping for renters insurance, be sure to ask about any available discounts, including the following:
- Multi-policy discount
- New customer discount
- Loyal customer discount
- Security system discount
- Educator discounts
- Military discount
- Industry affiliation discount
This list is not exhaustive, as each insurance company has different discounts available.
How Do I Get Renters Insurance in Washington, D.C.?
Getting renters insurance is an important part of being a responsible renter. When shopping for renters insurance, having a professional by your side can help you get an insurance policy tailored to your needs. A Trusted Choice® agent can help you find coverage, discuss discounts, and even help you file a claim. Find an agent in your area to get started.