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Is Renters Insurance OKC The Same As Renters Insurance Tulsa OK?

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Is Renters Insurance OKC The Same As Renters Insurance Tulsa?

The short answer to this question is: yes! Renters insurance Oklahoma City OK is the same as renters insurance Tulsa OK.  We will learn how renters insurance, also known as a tenant’s policy or HO-4 policy, can serve you in the Sooner State, no matter where you are located. 

What Is Renters Insurance In Oklahoma?

Renters insurance Oklahoma or HO4 policy is an insurance policy that protects tenants against damage to their personal property when they live in a rented apartment, home, mobile home, condo, townhome, etc. Of course, this policy will include coverage from damage caused by a determined list of perils. Additional to covering a renter’s personal belongings, this policy usually provides liability coverage and medical payments coverage. 

renters insurance Tulsa OK

What Does Renters Insurance Cover If You Live In Oklahoma?

Personal Property

This is known as Coverage C, which insures everything you own, including personal property located in a secondary residence. The usual minimum limit for personal belongings is $6,000. 

It also covers the personal property of others if you request it while their property is in your residence and the personal property of guests or residence employees when it’s located in your residence. 

One important note about coverage is that your personal property will either be insured as replacement cost value or actual cash value, also known as “ACV”.  Replacement cost value will insure your property as “brand new” without any depreciation applied to the items.  Whereas actual cash value will insure your belongings as “brand new” BUT depreciation Will Be Applied.  The replacement cost value coverage is better protection than actual cash value but it also costs more than actual cash value.  You may ask your agent to quote you both values so that you can decide which is a better fit for you.

Personal property doesn’t include coverage of animals, articles that are insured with other policies, motor vehicles, aircraft and parts, rented property, business data, credit cards or other cards, or property you rent to others or illegal substances and paraphernalia. 

Typical covered amounts for certain types or special limits of personal property are as follows:

  • $200 on money, bank notes, bullions, etc. 
  • $250 on business property not on the premises.
  • $1,000 on jewelry, watches, precious/ semiprecious stones, furs (theft only)
  • $1,000 on valuable papers manuscripts, securities, deeds, personal records, tickets and stamps. Also on watercraft including trailers, motors and equipment, other trailers.
  • $2,000 on firearms (theft only).
  • $2,500 on silverware, goldware, pewterware, and business property on the premises.

Loss of Use

Renters insurance also covers Loss of Use, which is known as Coverage D. This protects the renter when they can’t use their residence because of an insured loss. It offers coverage for a necessary increase in additional living expenses so you can continue living at your normal standard, coverage for prohibited use if you can’t go home for 2 weeks because of a peril to neighboring premises, and it covers fair rental value of the part of the residence you inhabit. The coverage period is limited to the shortest time required to repair or replace the insured property and the time required for the insured to move to a permanent residence. 

Additional Coverages

Renters ins also offers extensions of coverage that include debris removal after a loss, reasonable cost of necessary repairs, it will offer compensation for trees, shrubs and other plants destroyed by specified perils up to $500 per item, it will cover fire department service charge, building additions and alterations, property removed, loss assessment of up to $1,000, collapse, ordinance or law, and more. 


There are certain exclusions that apply. For example, coverage doesn’t apply to the enforcement of any law or ordinance, earth movements such as earthquakes are excluded, water damage from a flood is excluded, as well as power failure, war, nuclear hazard and loss caused by the acts or decisions of others. 

Personal Liability

Known as Coverage E, renters insurance will pay all sums up to the limit of liability that the insurer is legally obligated to pay for property damage or bodily injuries on others. The insurer also agrees to defend you in a lawsuit, even if it is fraudulent. They also may investigate and settle appropriate claims of a minimum of $100,000. 

Medical Payments

Last but not least, the personal property insurance policy covers medical payments, which is known as Coverage F. This means the insurer agrees to cover all reasonable medical expenses, which is usually at least $1,000 per person, incurred three years from the date of the accident when the non-resident guest or visitor or person is on the premises of the insured or off them if the bodily injury is caused by any activity the insured engages with, animals owned by them and residence employees. 

How Much Is Renters Insurance In Oklahoma?

When you have signed the tenant’s lease agreement, it is not unusual that the landlord may require that you get a HO4 renters insurance policy as part of the agreement, mainly for liability coverage. 

As a tenant, you may start looking to find out what the rates are for insuring your personal property. It is not unusual for those who are contemplating this coverage to look up what may be considered an average cost, but there really isn’t an average rate for this kind of coverage.  You don’t have average rates for car and house insurance or manufactured home coverage.  Nowadays, tenants insurance policy rates, just as auto and home insurance rates, are becoming more individualized. 

There are several things that set a cost for this insurance, which normally includes the credit rating of an insured, the location, any past home owners or tenants claims history, and so on.  If you are going to do this and want to make the H04 policy cost “hunt” worth your time, then start off by looking up Oklahoma renters insurance quote since it is a specific look-up phrase, yet general enough to help you find what you are looking for with numerous companies to begin to contact.