Best Renter's Insurance Companies in St. Louis

FAQs

• Which events and items are included and excluded from renters’ insurance in Saint Louis?

  Saint Louis renters' insurance provides coverage for replacing or repairing personal belongings such as furniture, clothing, and jewelry. These policies also cover legal expenses and court fees resulting from accidents at a tenant's rental property leading to injuries and property damage. Note that these policies do not cover structural damage to the rental home or the belongings of a tenant's roommate.

• What is the difference between actual cash value and replacement cost value coverages in the context of renters’ insurance in Saint Louis?

  The term "actual cash value" refers to the sum required to replace the personal belongings of a Saint Louis renter. This form of reimbursement takes into account depreciation when determining the expense of item replacement. In contrast, the replacement cost method considers both depreciation and the impact of regular wear and tear on claim settlements.

• How much do Saint Louis residents pay for renters’ insurance per month?

  In Saint Louis, renters spend approximately $23 monthly on insurance, reflecting a 10% increase compared to Missouri's state average. The city is the costliest for renters' insurance, with an annual coverage cost of $275. The location of a rental residence affects insurance costs. People residing in areas prone to flooding and with a higher crime rate usually pay more for renters' insurance.

• Which endorsement should Saint Louis residents add to their standard renters’ insurance policy if they own important items?

  Residents of Saint Louis have the option to add scheduled personal property coverage to their standard renters' insurance policies, which protects valuable possessions like musical instruments, engagement rings, and artworks. This additional coverage serves to extend the liability limits set by most insurance companies on specific valuable items, such as rings, cameras, and bikes.

• Does renters’ insurance provide liability protection in the event that a Saint Louis tenant is sued by somebody for bodily injury or property damage?

  Renters' insurance protects Saint Louis from potential lawsuits due to bodily injury or property damage as a result of their negligence, as well as events caused by their family members or pets. This coverage pays for legal defense expenses and court-ordered awards, up to the policy's specified limit. Standard renters' insurance policies in Saint Louis typically offer a minimum of $100,000 in liability coverage, but options for additional coverage amounts are also available.