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Search by Quote ID → Search by Date of BirthCheap Renters Insurance in Oklahoma
When it comes to renters insurance, Mercury recognizes that every dollar counts. That’s why we provide some of the most affordable rates in Oklahoma — without ever compromising on the quality of our coverage. Whether you’re renting a studio apartment in Tulsa or a townhome in Oklahoma City, you can enjoy peace of mind knowing we can cover your belongings, personal liability, and medical payments to others in case of an accident. Learn more about our renters insurance and get a policy that’s perfect for you.
What is Renters Insurance?
Renters insurance covers your belongings, liabilities, and additional living expenses in the event of a covered loss. When you rent a property in Oklahoma, your landlord’s insurance will generally only cover the physical building itself. This means that if a tornado, windstorm, or natural disaster damages or destroys your personal belongings within your rented home, you’d be responsible for replacing them unless you have rental insurance.
Mercury provides some of the cheapest renters insurance rates in Oklahoma without sacrificing quality coverage. Whether you’re renting a condo in Tulsa or an apartment in OKC, there's a policy to suit your needs and budget. Get peace of mind at an affordable price with a renters coverage and policy from Mercury.
Oklahoma Renters Coverages
Items and Expenses Covered by Renters Insurance
While policies can vary, most renters insurance plans in Oklahoma typically cover the following items and expenses:
- Personal property: In the event of theft, fire, or other covered perils, renters coverage can help replace your belongings. This can include furniture, electronics, clothing, and appliances. There are usually limits on certain high-value items like jewelry or art, so additional coverage might be necessary.
- Liability: If you’re found legally responsible for injuring another party or damaging their property, liability coverage can financially protect you. This coverage usually helps pay for the injured party’s medical expenses or property damages, as well as your legal costs.
- Additional living expenses: If your rental unit becomes uninhabitable due to a covered disaster like a tornado, renters insurance can help cover your additional living expenses, such as temporary housing, meals, and other costs incurred while your home is being repaired or replaced.
Incidents Covered by Renters Insurance
While coverage can vary depending on the policy, most rental insurance in Oklahoma typically includes protection against these common incidents:
- Theft and vandalism: Renters insurance can cover stolen or vandalized personal property, whether the incident occurs inside or outside the rental property.
- Fire and smoke damage: Most rental insurance policies cover damage to your personal belongings caused by fire or smoke.
- Water damage: Water damage caused by issues like burst pipes is generally covered.
- Windstorms and tornadoes: Given Oklahoma's susceptibility to windstorms and tornadoes, most rental insurance policies in the state will provide coverage for damage caused by these events.
- Liability: If someone gets injured in your rental unit or if you accidentally injure someone, your renters insurance can cover the associated medical bills and legal expenses.
- Falling objects: If your property gets damaged by a falling object, such as a tree branch, your renters coverage can cover the repair or replacement costs.
What Does Oklahoma Rental Insurance Not Cover
There are specific risks and events that are typically not covered under a standard rental insurance policy in Oklahoma. Understanding these exclusions is crucial to ensure you have comprehensive protection.
- Earthquakes: Renters coverage generally doesn’t cover damage caused by earthquakes. In fact, Oklahoma’s rate of magnitude 3 or larger earthquakes exceeded California’s rate from 2014 through 2017. While this activity has decreased since that period, earthquakes can still happen in Oklahoma. Consider purchasing separate earthquake insurance to protect your valuables.
- Floods: Additionally, renters insurance typically doesn’t cover flood damage. If you live in a flood-prone area of Oklahoma, consider getting a separate flood insurance policy from the National Flood Insurance Program (NFIP).
- Pest damage: Damage caused by pests such as termites, rodents, or insects is usually not covered. This can be a risk, especially in older rental properties in Oklahoma.
- Business-related incidents: Renters coverage doesn’t cover incidents related to a home business or professional activities conducted from the rental property. You must purchase a separate business insurance policy.
- Damage due to negligence: If damage to your personal property is due to your negligence or lack of maintenance, renters insurance likely won’t cover it.
Why Is My Landlord Asking for Me to Get Renters Insurance?
If your landlord is requesting you to get renters insurance, it’s important to understand the reasons behind this requirement. While insurance is primarily for your benefit, it also offers advantages to landlords.
- Provides peace of mind for both parties — Having insurance provides peace of mind for both you and your landlord. It shows you're a responsible tenant and helps build a trustful landlord-tenant relationship. For the landlord, it reduces the risk of disputes and potential financial strain related to property damage or injuries.
- Prevents collecting damages from them — Landlords are responsible for any damage to the building’s structure, not any of your damages. Having renters coverage protects your personal belongings and covers additional living expenses following a disaster. That way, you don't need to rely on your landlord for financial compensation for these covered losses.
- Allows them to recover damages — If you cause fire or water damage in your rental unit, your landlord’s insurance policy will cover the damages to the property. However, this coverage kicks in only after your landlord pays the insurance deductible. With your own rental insurance, this deductible can be recovered from your insurance provider, reducing the financial strain on your landlord.
Get Cheap Oklahoma Renters Insurance from Mercury
In Oklahoma, the unexpected can happen at any moment, and Mercury’s insurance policies are designed to protect you and your valuables following a covered loss. Our commitment is to offer comprehensive coverage that fits within your budget. Secure peace of mind and protect what matters most with affordable renters insurance from Mercury.
Save More with Discounts
We understand that every dollar counts, which is why we offer exclusive discounts to make your rental insurance even more affordable, including our home and auto insurance bundle. Contact a Mercury agent today to explore these options and tailor a policy that aligns perfectly with your budget.
Your Questions About Affordable Renters Insurance in Oklahoma – Answered
What is the average cost of rental insurance in Oklahoma?
According to Nerd Wallet, the average cost of renters coverage in Oklahoma is $210 a year, or about $18 a month.
How to find the cheapest renters insurance in Oklahoma?
Visit Oklahoma Insurance Agents and search agents in your area. Then, request and compare quotes to find the right policy tailored to your needs and budget.
What is the Sutton rule in Oklahoma?
The Sutton Rule in Oklahoma, stemming from a 1977 court case, establishes that a landlord's insurance typically doesn’t cover a tenant’s personal property in case of damage or loss. This rule suggests that tenants should have their own renters insurance to protect their belongings, as the landlord’s policy generally covers only the building itself, not the contents owned by tenants.
Who is the cheapest rental insurance in Oklahoma?
Mercury offers some of the cheapest renters insurance rates in Oklahoma. We provide best-in-class coverage at an affordable price, ensuring peace of mind without breaking the bank. Plus, you can save even more with our exclusive discounts, including our home and auto bundle. Contact us today for a fast, free quote!
Is it legal to require rental insurance in Oklahoma?
No, there’s no state law requiring tenants to have renters insurance. However, your landlord or property manager can require you to purchase renters coverage as part of the leasing agreement.
How do I find a Mercury Agent in Oklahoma?
Go to Oklahoma Insurance Agents and find an agent in your area!
What products does Mercury offer in Oklahoma?
Here are the products Mercury provides in Oklahoma: