Compare Home Insurance Plans in Ohio
Find your best options in less than 2 minutes
What an HO4 Policy Covers
An HO4 insurance policy works on a named-peril basis, meaning it only pays for losses caused by hazards specifically listed in your policy. The 2026 HO4 form typically lists 16 named perils, including fire and lightning, windstorm and hail, explosion, riot or civil commotion, aircraft, vehicles, smoke, vandalism, theft, volcanic eruption, falling objects, weight of ice or snow, accidental water discharge, sudden tearing of pipes or HVAC systems, freezing, and sudden electrical damage.
There are four core components every HO4 policy includes:
Personal Property Protection (Coverage C)
This is the heart of any HO4 policy. It covers the cost to repair or replace your personal belongings (furniture, electronics, clothing, kitchenware, and more) when they're damaged or stolen due to a covered peril. Coverage typically extends worldwide, protecting your belongings even when they're temporarily away from home, such as items stolen from your car, subject to sub-limits (often 10% of your Coverage C limit off-premises).
One important choice to make: Actual Cash Value (ACV) vs. Replacement Cost Value (RCV). ACV pays what your item is worth today (after depreciation), while RCV pays what it would cost to buy a new equivalent item. In 2026, most consumer guides and insurers recommend adding replacement cost coverage so claims pay the cost to buy new items of like kind and quality. Learn more about how personal property coverage works and its sub-limits for valuables.
Example: If your 3-year-old laptop is stolen, an ACV policy might pay $400 while an RCV policy pays the full $1,100 to replace it.
High-value items like jewelry, collectibles, or musical instruments have sub-limits under a standard policy (typically $1,500 to $2,500 for jewelry, $200 for cash, and $2,500 for firearms). You can close those gaps with a scheduled personal property endorsement that lists valuables individually at their full appraised value. Read more about home insurance sublimits to understand exactly what standard limits will and won't cover.
Personal Liability Coverage (Coverage E)
If someone is injured in your rental unit (a guest trips and falls, your dog bites a visitor) or if you accidentally damage someone else's property, your HO4 liability coverage steps in. It pays for:
- Legal defense costs
- Court-ordered settlements or judgments
- Medical expenses for the injured party
Most policies offer liability limits starting at $100,000, but 2026 landlord and property management guidance increasingly recommends $300,000 or higher because medical and legal costs have risen. The price difference is often just a few dollars per month, making it one of the highest-value upgrades you can buy.
Loss of Use / Additional Living Expenses (Coverage D)
If a covered peril like a fire or burst pipe makes your rental uninhabitable, loss of use coverage pays for the extra costs you incur while you're displaced. This includes hotel or Airbnb stays, meals above your normal spending, laundry, transportation, and even pet boarding. This limit is typically set at 20% to 30% of your personal property coverage (a $30,000 property limit usually comes with $6,000 to $9,000 of loss of use).
Medical Payments to Others (Coverage F)
Often overlooked, this coverage pays small medical bills for guests injured at your residence regardless of fault, typically starting at $1,000 per person with higher limits available up to $5,000. Unlike liability coverage, it doesn't require you to be legally at fault, so it can handle minor incidents without triggering a lawsuit.
Compare Home Insurance Plans in Ohio
Find your best options in less than 2 minutes
What HO4 Does NOT Cover
Understanding the exclusions is just as important as understanding the coverage. Here's what falls outside a standard HO4 policy:
| Exclusion | Why It's Not Covered | Your Options |
|---|---|---|
| Flood damage | Not a named peril on standard policies | Purchase a separate flood policy through NFIP or private insurer |
| Earthquake damage | Excluded from all standard policies | Add earthquake endorsement or separate policy |
| The rental building | Landlord's responsibility | Covered under landlord insurance |
| Roommate's belongings | Each tenant needs their own policy | Roommates should get separate HO4 policies |
| Business equipment | Home-based business use excluded | Add a business property endorsement |
| Personal injury (libel/slander) | Not in the base HO4 form | Add a personal injury endorsement |
| Wear and tear / pests | Maintenance issues, not sudden losses | Preventative maintenance is your responsibility |
| Intentional damage | Insurance doesn't cover willful acts | N/A |
| Mold and gradual seepage | Long-term/maintenance issue | Often excluded or tightly limited |
| Certain dog breeds / exotic pets | Insurer-specific exclusions | Ask about pet liability endorsements |
Protect your home with State Farm
Average Rate:
Homeowners who bundle and save with State Farm save an average of $1,000 per year!
You're in Good Hands® with Allstate
Average Rate:
Get comprehensive home coverage with flexible policy options.
Customize your home coverage
Average Rate:
Only pay for the coverage you need with personalized home insurance.
Smart coverage for your home
Average Rate:
Protect what matters most with award-winning home insurance.
HO4 vs. HO6: What's the Difference?
These two policy types are often confused, but they serve different residents. HO4 is exclusively for renters, while HO6 is designed for condo owners.
The key difference is that condo owners are responsible for their unit's interior, including walls, flooring, cabinets, and improvements, all of which their HO6 policy covers. Renters carry no such responsibility, so their HO4 policy skips that coverage entirely. Read our full HO6 insurance guide if you own a condo unit, or see the shorter condo insurance overview for a quick primer.
For a broader view of how these policies fit into the insurance ecosystem, see how every policy type stacks up in our HO-1 through HO-8 guide. If you want a general primer, our renters insurance guide covers the essentials, and our what it covers and why you need it article dives deeper into landlord requirement trends.
HO4 Policy Costs, Coverage Limits & Who Needs It
How Much Does HO4 Renters Insurance Cost in 2026?
Renters insurance remains one of the most affordable insurance products available, and 2026 rate studies land in a fairly tight range. Most renters pay between $13 and $24 per month for a standard policy. NerdWallet's 2026 rate analysis puts the U.S. average at about $151 per year (roughly $13/month), Beagle's state-by-state analysis lands at about $18/month ($216/year) for $30K property and $100K liability with a $500 deductible, and Insurance.com's 2026 study reports a national average of about $24/month ($288/year) for $40K of property, a $1,000 deductible, and $300K of liability. Lemonade and OwlQuotes both peg the national average at around $23/month.
| Coverage Level | Est. Monthly Cost | Est. Annual Cost |
|---|---|---|
| Basic ($15K property / $100K liability) | ~$11 to $14/mo | ~$132 to $168/yr |
| Standard ($30K property / $100K liability) | ~$15 to $24/mo | ~$180 to $288/yr |
| Higher ($50K property / $300K liability) | ~$22 to $32/mo | ~$264 to $384/yr |
Rates vary significantly by state. Based on Insurify's 2026 state table, sample monthly averages include Alabama at $31, California at $23, Florida at $27, Georgia at $32, Louisiana at $36, Michigan at $39, Mississippi at $39, New York at $18, Texas at $28, and Wyoming at $19. Gulf Coast and hurricane-exposed states still run highest. Your credit score, claims history, deductible amount, and selected coverage limits also influence your final premium.
Can Your Landlord Require Renters Insurance?
Yes, and it's more common than ever. Landlords can require renters insurance in every state except Oklahoma, and no state forces a tenant to carry it on their own; the law only comes into play when a landlord makes it a lease condition, which every state permits with that single exception. The trend is accelerating: about 72% of landlords now require tenant insurance, up from just 44% five years ago. Some states also cap what landlords can demand: Oregon limits required liability to $100,000 under ORS 90.222, and other states restrict how the landlord can be listed on the policy.
States including California, Connecticut, Delaware, Illinois, Maine, Maryland, Massachusetts, New Jersey, New York, Oregon, Rhode Island, Vermont, and Washington add tenant protections, such as limits on required liability amounts, notice rules, or restrictions on naming the landlord as a beneficiary.
Common landlord requirements in 2026:
- $100,000 minimum in personal liability coverage (with $300,000 increasingly recommended)
- Proof of an active policy at move-in and again at each annual renewal
- Listing the landlord as an "additional interested party" so they're notified if your policy lapses or is canceled
- Maintaining continuous coverage for the entire lease term
Requiring renters insurance does not mean the landlord's policy will cover your belongings. It simply ensures you have your own protection in place.
Most Common HO4 Claims (and What They Pay)
Understanding what people actually file claims for helps you set the right coverage. The most frequent HO4 claims in 2026 are:
| Claim Type | Share of Claims | Average Payout |
|---|---|---|
| Theft / burglary | ~35% of claims | ~$1,200 per incident |
| Sudden water damage (burst pipes) | ~28% of claims | ~$5,000 per claim |
| Fire and smoke | ~15% of claims | ~$15,000 per claim |
| Vandalism | ~12% of claims | ~$2,100 per claim |
| Liability / guest injuries | Varies | ~$12,500 per claim (higher for serious cases) |
Gitnux's 2026 renters insurance data shows theft accounts for 35% of claims with an average payout of $1,200, water damage claims make up 28% averaging $5,000, and fire claims average around $15,000 despite being less frequent. Everyday renters claims typically range from $3,000 to $5,000, but average payouts jump to $13,000 to $15,000 once major apartment fires and large water losses are included. Keep in mind that your renters insurance rate will typically increase after a claim, especially theft or fire, since those two claim types are the most impactful on future premiums, so many renters self-insure very small losses.
Common Misconceptions About HO4 Coverage
Myth 1: "My landlord's insurance covers my stuff." This is the most dangerous misconception renters carry. A landlord's policy covers the building structure and the landlord's property, nothing more. MoneyGeek data shows about 55% of U.S. renters (approximately 61 million people) currently have renters insurance, while 45% remain uninsured, leaving many without financial protection against theft, fire, or liability claims.
Myth 2: "Renters insurance is too expensive." At $13 to $24 per month on average, renters insurance is one of the lowest-cost insurance products on the market. Lemonade advertises average U.S. renters insurance around $16/month, with rates starting as low as $5/month, and carriers like State Farm and Amica consistently rank among the cheapest nationally.
Myth 3: "I don't have enough stuff to insure." Add up the replacement cost of your furniture, electronics, clothing, kitchen items, and other belongings and most renters find their possessions total $20,000 to $40,000 or more.
Myth 4: "My roommate's policy covers me too." HO4 policies only cover the named insured and their relatives living in the home. Your roommate's policy does not extend to your belongings or your liability.
How Much Coverage Should You Carry?
Determining the right coverage amount takes a little homework, but it's worth the effort:
- Do a home inventory. Go room by room and list your belongings at their current replacement cost, not what you originally paid. Free apps like Encircle, Sortly, or the NAIC home inventory app work well.
- Set your property limit high enough to replace everything if a fire destroyed the entire contents of your unit.
- Aim for at least $300,000 in liability if you have pets, host guests frequently, or have meaningful assets to protect.
- Choose Replacement Cost over ACV. The premium difference is small, but you'll receive far more in a claim without depreciation eating into your payout.
- Consider a personal injury endorsement to cover online libel or slander claims, which are increasingly relevant in the social media era.
- Review annually and update coverage after purchasing new electronics, furniture, or valuables.
Frequently Asked Questions
Is an HO4 policy the same thing as renters insurance?
Yes, HO4 is simply the official insurance industry form number for standard renters insurance. When insurers refer to an "HO4 policy," they're describing the same product marketed as renters insurance. The HO stands for "homeowners," and the form number 4 designates it specifically for tenants renting a home or apartment.
Can my landlord legally require me to have an HO4 policy?
Yes, in every state except Oklahoma, which is the only state that bans landlords from mandating renters insurance as a lease condition. Elsewhere, landlords can require tenants to carry renters insurance and may specify a minimum liability limit (commonly $100,000, with $300,000 preferred) and ask to be listed as an additional interested party. States like Oregon, California, New York, and Illinois add extra tenant protections around notice, caps, or beneficiary rules, but the requirement itself is legal.
Does HO4 renters insurance cover flood or earthquake damage?
No. Standard HO4 policies do not cover flood damage or earthquake damage, and both are explicitly excluded from named-peril coverage. If you live in a flood-prone or seismically active area, you'll need a separate flood insurance policy through the NFIP or a private insurer, and an earthquake endorsement or standalone policy for seismic events.
What's the difference between an HO4 and an HO6 policy?
HO4 is renters insurance for tenants and covers personal property, liability, and loss of use, but not the building structure. HO6 is condo insurance for unit owners and includes the same three core coverages plus the interior of the owner's unit, including walls, flooring, and built-in fixtures that the HOA master policy doesn't cover.
How much does an HO4 policy cost per month in 2026?
National averages for 2026 put renters insurance at roughly $13 to $24 per month for a standard policy with $30,000 in personal property coverage and $100,000 in liability. Your exact premium will vary based on your state, city, credit score, deductible choice, and total coverage limits. Renters in Gulf Coast states like Louisiana ($36) and Mississippi ($39) pay well above the national average, while renters in Delaware ($15) and Wyoming ($19) often pay the least. Shopping multiple quotes is the best way to find the lowest rate for your situation.