Finding the best renters insurance in Wyoming
If you recently moved into a new apartment or you are considering renting in Wyoming, renters insurance is one of the key things to look into. Renters insurance is a type of insurance policy that protects your possessions in the event of an unforeseen accident or theft in a rented apartment. Renters insurance provides coverage in case of any what-ifs that happens. The landlord's insurance only insures the building itself and major facilities; it does not offer coverage for any damage to your possessions in the apartment. One of the things you have to figure out is how to get the best renters insurance in Wyoming. It is about getting the best renters insurance and getting cheap renters insurance in Wyoming. A good renters insurance policy protects you from any damages incurred during a theft or an accident. Along with that, the liability policy of the renter's insurance offers medical payment coverage for their accident. You need to secure your possessions in case of an unexpected event like a fire outbreak that might cause damages or loss to your valuables.
| Renters Insurance Costs in Wyoming | Cost |
|---|---|
| Avg. Cost of Renters Insurance in Wyoming Annually | $203.08 |
| Avg. Cost of Renters Insurance in Wyoming Per Month | $16.92 |
A Quick Glance at Renters Insurance in Wyoming
The average cost for renters insurance in Wyoming is low; at $XXX, it is lower than the national average cost value. Wyoming is ranked 38 out of 52 on the list of the average renter's insurance cost value per state. Although rents are cheap in Wyoming, about 24% of renters spend above 30% of their annual income on rents and utilities. That leaves little money for other things, and renters insurance may seem out of their budget. But renters insurance in Wyoming is not expensive; the average monthly rate stands at $XX. The average cost of renters insurance may vary from one city to another. The city with the most expensive renters insurance in Wyoming is Evansville, with an average annual premium of about $231. Lusk, Glenrock and Afton are also a bit on the high side. On the other hand, people living in cities like Douglas, Newcastle, Rawlins and Jacksons pay lesser for renters insurance. The city with the cheapest renters insurance is Douglas, with an annual average premium of about $192, about 5.1% lower than the states average.
| City in Wyoming | Costs Per Month for Renters Insurance | Average Costs Per Year for Renters Insurance |
|---|---|---|
| Cheyenne, WY | $21.89 | $262.72 |
| Casper, WY | $18.72 | $224.64 |
| Laramie, WY | $15.59 | $187.04 |
| Gillette, WY | $19.99 | $239.84 |
| Rock Springs, WY | $13.15 | $157.76 |
| Sheridan, WY | $17.32 | $207.84 |
| Green River, WY | $13.15 | $157.76 |
| Evanston, WY | $13.55 | $162.56 |
| Riverton, WY | $13.99 | $167.84 |
| Jackson, WY | $14.01 | $168.16 |
| Cody, WY | $14.48 | $173.76 |
| Rawlins, WY | $14.39 | $172.64 |
| Lander, WY | $13.69 | $164.32 |
| Torrington, WY | $19.83 | $237.92 |
| Powell, WY | $13.84 | $166.08 |
Is Renters Insurance Required in Wyoming?
There are no state or federal laws that make it compulsory for you to get renters insurance for your rented apartments. However, some landlords will require you to get renters insurance before they lease their building to you. In some cases, landlords will request proof of your renter's insurance as part of the lease agreement. Even if your landlord does not require renters insurance, getting one shows you are responsible and will help in your apartment-hunting. Renters insurance is a way of securing your valuables in case of unexpected bad events like fire outbreaks, flood or natural disasters. While your landlord's insurance provides coverage for the building, it does not extend to your belongings in the building. There are limits to the coverage renters insurance provides if you have valuables like expensive pieces of jewellery or artifacts. For that, you will need to get additional coverage for them. Even if the law doesn't mandate you to have renters insurance, it is a great option to provide security for your valuables.
How Much Is Renters Insurance In Wyoming
Wyoming is a low-risk state without risks of earthquakes, wildfire or any other natural disaster. However, like the other part of the country, the crime rate is increasing, and your apartment is still prone to fire outbreaks caused by human-made activities. Renters insurance rates in Wyoming vary from city to city. The average renter's insurance in Wyoming is around $201 but varies with each insurer. People living in cities like Douglas and Newcastle get low-cost renters insurance as they pay significantly lesser than the state average. On the other hand, people living in Evansville pay over 14.1% more than the state average. Location and neighbourhood significantly affect the price of renters insurance. The amount you pay in renters insurance can increase depending on the type of coverage you choose, your credit ratings, and the value of your possessions. If you must get extra coverage on some of your valuables, expect to pay more in insurance.
| Costs of Renters Insurance in Wyoming by County | Price Per Month | Price Per Year |
|---|---|---|
| Albany County, WY | $15.59 | $187.04 |
| Campbell County, WY | $19.99 | $239.84 |
| Carbon County, WY | $14.39 | $172.64 |
| Fremont County, WY | $13.84 | $166.08 |
| Goshen County, WY | $19.83 | $237.92 |
| Laramie County, WY | $21.89 | $262.72 |
| Natrona County, WY | $18.72 | $224.64 |
| Park County, WY | $14.16 | $169.92 |
| Sheridan County, WY | $17.32 | $207.84 |
| Sweetwater County, WY | $13.15 | $157.76 |
| Teton County, WY | $14.01 | $168.16 |
| Uinta County, WY | $13.55 | $162.56 |
What Does Renters Insurance Covers In Wyoming?
A good renters insurance protects all your basic belongings, from your clothing to your shoes to your electronics to your furniture. In case of loss, the insurance will give you the current market value of your possession. For example, if you lost a TV you purchase about 3 years ago in a fire, the rental insurance will give you the current TV market value. The current market value might have increased or decreased. Renters insurance policies have a limit on the coverage they provide, so you need to know what is insured and if you will need to purchase extra coverage to secure some of your possessions. For example, most renters insurance covers business-related item up to a certain limit. If your business-related items are above that limit, then you will need extra coverage. Renters insurance also offers additional benefits you might not know about. The liability coverage of most renters insurance covers the medical payment. The insurance also takes care of any lawsuit filed against you. If a guest gets injured in your apartment and decides to sue you, the insurance policy takes care of all the medical and lawsuit expenses.
Best Insurance Companies in Wyoming Based on Consumer Ratings
Finding the best renters insurance in Wyoming is not an easy task, but there are a lot of resources available to make the process easier for you. A good renters insurance policy offers you coverage for your valuables and gives you options for additional coverage to cover valuables not covered by the renter's insurance policy at an affordable rate. You should talk to your real estate about the several renter's insurance policies available. Trusted rating systems like JD Power customer satisfaction ratings, NAIC, and AM Best rate different renters insurance policy based on several criteria. For example, the State Farm renters insurance policy is the cheapest and one of the best renters insurance around in Wyoming. The company has rated A++(Superior) by AM best and 5 out of 5 by JD Power customer satisfaction rating. The renter's insurance has just a compliant of 0.2, which is very low. Geico renters insurance in Wyoming offers the cheapest policy in terms of basic coverage; it has consistently rated the most reasonable renters insurance over the years. AAA renters insurance also offers great discounts and basic coverage at an affordable price. The table below compares several renters insurance; it is a good place to start researching renters insurance in Wyoming.
| Wyoming Renters Insurance Company | JD Power Rating | NAIC Rating |
|---|---|---|
| Allstate Ratings for Renters Insurance in Wyoming | 3/5 | 0.34 |
| Farmers Ratings for Renters Insurance in Wyoming | 3/5 | 0.46 |
| Liberty Mutual Ratings for Renters Insurance in Wyoming | 2/5 | 0.45 |
| State Farm Ratings for Renters Insurance in Wyoming | 4/5 | 0.2 |
| USAA Ratings for Renters Insurance in Wyoming | 5/5 | 0.14 |
| AIG Ratings for Renters Insurance in Wyoming | 2/5 | 0.09 |
| Allied Ratings for Renters Insurance in Wyoming | N/A | 0.67 |
| American National Ratings for Renters Insurance in Wyoming | N/A | 0.69 |
| Chubb Ratings for Renters Insurance in Wyoming | 2/5 | 0 |
| Mountain West Farm Bureau Ratings for Renters Insurance in Wyoming | N/A | 1.84 |
Compare Renters Insurance in West Virginia For the Best Rates
To get the best deals on your renter's insurance policy, you must research and compare several renters insurance in Wyoming. Speak to your real estate extensively about each of the renter's insurance. You can check the trusted rating system mentioned above to decide on the best renters insurance in Wyoming. Most of the best renters insurance policy also offers affordable renters insurance in Wyoming. Not all renters insurance policies are the same; they are created by different companies and caters for several purposes, which is why you must read up on several renters insurance policies to determine the one that is most suitable for you. Before you decide on renters insurance, make sure you know what the insurance covers and what it does not. Most of the renter's insurance policies give you discounts and loyalty reward for long-term clients and referral discounts. If you want multi-policy bundles or basic coverage with additional coverage, you should ensure that the insurer you are choosing offers those options. If you have extra items that are not covered by basic coverage, you will need additional coverage. Not all renters insurance offers additional coverage options. Whatever you do, make sure you research and compare all options before deciding on which renters insurance to go for.