How much does renters insurance cost?

Renters insurance is cheap. The national average is around $168 a year (~$14/month) for about $30,000 in personal property and $100,000 in liability. Where you land depends mostly on your state, how much you insure, and your deductible.

What it costs by state

State averages run from roughly $127 in low-cost states (Maine, New Hampshire, Vermont) to over $250 in Florida and Louisiana, where catastrophe risk pushes every line of insurance up. See your state's average and the cheapest carriers on our renters rate comparison.

What drives your price

The biggest factors: your location (crime and weather risk by ZIP), how much personal property you insure, your deductible ($250 vs $1,000), whether you pick replacement cost, and in most states your credit-based insurance score. Add-ons like scheduled jewelry or water-backup raise it slightly.

How to pay less

Bundle with your auto policy (often 10–15% off the renters premium), raise your deductible if you can cover it, skip coverage you don't need, and — the big one — compare carriers. The same coverage can vary $80–180/year between insurers for the same renter.

Frequently asked questions