Best Renters Insurance in Tulsa, OK

In 2017, more than 35% of Tulsa residents were renters. For these people, renters insurance provides financial protection when possessions are lost or damaged by theft, vandalism or fire.

Young professionals and families in areas like Cherry Street and the Riverview Historic District often purchase renters insurance to ensure their smartphones, bicycles, computers and photography equipment can be replaced in case of loss or damage. Retirees in towns like Coweta buy renters insurance to protect their antiques, electronics and other expensive items they’ve acquired.

Renters insurance in Tulsa typically starts around $10 to $15 a month for an average of $120 a year. Deductibles for basic renters insurance plans are usually about $500. Cheap renters insurance policies are ideal for:

• Families on a budget
• College students at the University of Tulsa or Oral Roberts University
• People who don’t have many valuables

A basic renters insurance plan covers up to $12,000 in lost or damaged personal property and up to $10,000 in legal liability, which helps if you are found responsible for someone getting hurt in your home. Although basic policies cost less per month, they have a long list of coverage exceptions.

Mid- and high-level coverage options cost more upfront but offer more comprehensive coverage. Premium renters policies cost around $400 a year, but they cover up to $100,000 in property loss or damage and liability.

If you are worried about losing specific items you own, such as expensive artwork or jewelry, make sure your policy covers these items. You can also purchase a rider to ensure your family heirlooms and valuable items are covered. You can usually add coverage in increments of $10,000, which raises monthly premiums by $15 or $20.

If you’re on a strict budget, look for opportunities for discounts. Many companies let you bundle renters insurance with other policies for a reduced cost.

As you search for renters insurance companies in Tulsa, it’s essential to check reviews, ask for references and get referrals from family and friends. Check each company to see how it handles claims and if other customers are happy with its payouts and customer service.

It’s crucial to read the fine print and discuss coverage specifics before buying renters insurance in Tulsa. As you talk with insurance companies, ask about the appraisal process and what to expect when determining what is covered. An insurance expert can help you decide on the deductible and coverage options that are right for you.

No, there are no state or federal laws that require tenants to purchase renters insurance in Tulsa. However, it is legal for a landlord to require tenants to provide proof they have renters insurance. Before you sign your lease, ask your landlord about what coverage they expect.

If you aren't sure whether you need renters insurance in Tulsa, ask yourself these questions:

• Does my landlord require it?
• Do I live in an area that has a high property crime rate?
• Do I live in an area with a high chance of severe weather?
• Would I be unable to pay the medical bills if my pet bit someone?
• Do I own any items that are very expensive to repair or replace?

If you answered yes to any of these questions, renters insurance might be a smart idea.

Your renters rights in Tulsa

As a renter in Tulsa, you have a specific set of rights. You protected by the Fair Housing Act and other federal laws that bar discrimination based on race, color, national origin, religion, sex, familial status or disability.

Tulsa residents looking for more information on renters rights and resources should check out these sites:

• Oklahoma Bar Association: Provides a full list of your rights as a renter in Oklahoma
• Legal Aid Services of Oklahoma: Offers legal services to low-income families in the Tulsa area
• Oklahoma Attorney Resources: Provides legal services for Tulsans who earn too much to qualify for Legal Aid Services but not enough to obtain a private attorney