Shop Renters Insurance Locally
Where you live is a major factor in determining your renters insurance costs. Different states, cities and neighborhoods may have different average costs, and shopping locally for renters insurance could save you money. Be sure to compare rates from several different insurance providers in order to ensure you’re getting the best possible deal.
Alabama
Average annual cost of renters insurance in AL is $203
Birmingham
Alaska
Average annual cost of renters insurance in AK is $91
Anchorage
Arizona
Average annual cost of renters insurance in AZ is $147
Tucson, Scottsdale, Gilbert, Phoenix, Chandler, Mesa, Glendale
Arkansas
Average annual cost of renters insurance in AR is $197
Little Rock
California
Average annual cost of renters insurance in CA is $238
Fremont, San Francisco, Moreno Valley, Modesto, Oakland, San Jose, Fresno, Stockton, San Diego, Santa Rosa, Fontana, San Bernardino, Long Beach, Irvine, Santa Clarita, Bakersfield, Santa Ana, Oxnard, Anaheim, Chula Vista, Los Angeles, Riverside, Sacramento
Connecticut
Average annual cost of renters insurance in CT is $100
Bridgeport
Delaware
Average annual cost of renters insurance in DE is $129
Wilmington
Florida
Average annual cost of renters insurance in FL is $119
St. Petersburg, Hialeah, Jacksonville, Orlando, Miami, Tampa
Georgia
Average annual cost of renters insurance in GA is $222
Atlanta
Hawaii
Average annual cost of renters insurance in HI is $117
Honolulu
Idaho
Average annual cost of renters insurance in ID is $97
Boise
Illinois
Average annual cost of renters insurance in IL is $124
Chicago
Indiana
Average annual cost of renters insurance in IN is $153
Fort Wayne, Indianapolis
Iowa
Average annual cost of renters insurance in IA is $103
Des Moines
Kansas
Average annual cost of renters insurance in KS is $128
Wichita
Kentucky
Average annual cost of renters insurance in KY is $125
Lexington, Louisville
Louisiana
Average annual cost of renters insurance in LA is $160
New Orleans, Baton Rouge
Maine
Average annual cost of renters insurance in ME is $88
Portland
Maryland
Average annual cost of renters insurance in MD is $130
Baltimore
Massachusetts
Average annual cost of renters insurance in MA is $138
Boston
Michigan
Average annual cost of renters insurance in MI is $249
Detroit
Minnesota
Average annual cost of renters insurance in MN is $101
St. Paul, Minneapolis
Mississippi
Average annual cost of renters insurance in MS is $215
Jackson
Missouri
Average annual cost of renters insurance in MO is $150
St. Louis, Kansas City
Montana
Average annual cost of renters insurance in MT is $114
Billings
Nebraska
Average annual cost of renters insurance in NE is $119
Omaha, Lincoln
Nevada
Average annual cost of renters insurance in NV is $129
Reno, North Las Vegas, Henderson, Las Vegas
NewHampshire
Average annual cost of renters insurance in NH is $100
Manchester
New Jersey
Average annual cost of renters insurance in NJ is $104
Newark, Jersey City
New Mexico
Average annual cost of renters insurance in NM is $94
Albuquerque
New York
Average annual cost of renters insurance in NY is $124
Buffalo, New York
North Carolina
Average annual cost of renters insurance in NC is $106
Raleigh, Winston-Salem, Durham, Fayetteville, Charlotte, Greensboro
North Dakota
Average annual cost of renters insurance in ND is $79
Ohio
Average annual cost of renters insurance in OH is $142
Cincinnati, Toledo, Cleveland, Columbus
Oklahoma
Average annual cost of renters insurance in OK is $153
Oklahoma City, Tulsa
Oregon
Average annual cost of renters insurance in OR is $114
Portland
Pennsylvania
Average annual cost of renters insurance in PA is $194
Philadelphia, Pittsburgh
Rhode Island
Average annual cost of renters insurance in RI is $124
Providence
South Carolina
Average annual cost of renters insurance in SC is $132
Charleston
South Dakota
Average annual cost of renters insurance in SD is $83
Sioux Falls
Tennessee
Average annual cost of renters insurance in TN is $218
Nashville, Memphis
Texas
Average annual cost of renters insurance in TX is $134
Arlington, Corpus Christi, Fort Worth, Houston, Garland, Plano, Laredo, San Antonio, Dallas, El Paso, Lubbock, Irving, Austin
Utah
Average annual cost of renters insurance in UT is $107
Salt Lake City
Vermont
Average annual cost of renters insurance in VT is $105
Burlington
Virginia
Average annual cost of renters insurance in VA is $127
Norfolk, Virginia Beach, Richmond, Chesapeake
Washington
Average annual cost of renters insurance in WA is $118
Seattle, Tacoma, Spokane
West Virginia
Average annual cost of renters insurance in WV is $121
Charleston
Wisconsin
Average annual cost of renters insurance in WI is $108
Milwaukee, Madison
Wyoming
Average annual cost of renters insurance in WY is $125
Cheyenne
Common Questions About Shopping for Renters Insurance
Below are the most common questions about shopping for renters insurance. Click on each question to learn more about what kind of coverage you need, how to find the best rate and more.
Choosing the right renters insurance policy is about balancing how much you value customer service against the cheapest rates. Whether you’re looking for the best balance of price and customer service experience, or your primary focus is saving a few dollars per month, MoneyGeek can help you find the company that fits your needs with these rankings of the best and cheapest insurers.
Best Renters Insurance Companies
Cheapest Renters Insurance Companies
How to Shop Renters Insurance: Renters Insurance Buying Guide
Whether you’re about to rent your first apartment or have been renting for years, purchasing renters insurance is a great way to affordably protect your possessions in case anything goes wrong. Before you decide on a renters insurance policy, follow these steps to make sure you get the best coverage at the right price.
Educate Yourself on What Renters Insurance Covers
In order to choose the best renters insurance policy to meet your needs, you should understand what renters insurance does and does not cover. The main difference between renters insurance and homeowners insurance is that renters insurance doesn’t cover the physical structure of the home or apartment you’re renting. Here are some of the things that renters insurance typically covers:
- Personal property: Renters insurance covers damage or theft of personal property such as clothing, electronics, appliances and furniture.
- Temporary living expenses: If you need to find alternative lodgings after your apartment has been damaged, renters insurance will cover your temporary living expenses, like hotel accommodations and meals.
- Personal liability: Renters insurance includes personal liability coverage in case your negligence results in guests or visitors being injured or having their property damaged. This can sometimes be used as pet liability coverage in case your pet injures a guest or damages their belongings.
- Medical payments: Some renters insurance policies cover medical payments for guests who are injured in your apartment.
Renters insurance does not usually cover:
- The physical structure: Unlike homeowners insurance, renters insurance does not cover the physical structure of your apartment building. Your landlord or property owner is responsible for insuring the physical structure.
- Floods and earthquakes: Renters insurance doesn’t typically cover damage caused by floods or earthquakes, although renters can purchase flood insurance coverage separately.
- Water backup: Renters insurance doesn’t cover water backup or sewer damage, but renters can purchase floater coverage for these damages at an additional cost.
- Your roommate’s property: In most cases, your roommate or housemate will have to purchase a separate policy to cover their own personal property.
- Intentional damage: Your property won’t be covered if it is intentionally damaged, and your insurance provider will conduct an investigation to ensure you aren’t committing insurance fraud when you file a claim.
- Vehicles: Renters insurance doesn’t cover damage to vehicles. If you’re interested in covering your vehicle in case of damage, you should purchase comprehensive coverage as part of your auto insurance policy.
- Rodents and pests: Renters insurance doesn’t typically cover damage caused by rodents and pests.
Determine How Much Renters Insurance You Need
How much renters insurance you need will depend on how much personal property you own and how much risk you can tolerate. When determining how much renters insurance you should get, calculate the total value of your personal property. While the value of your possessions can add up faster than you might think, you should maintain an accurate inventory in order to ensure that your belongings are all covered.
- Inventory items: You should make a list of all of your personal possessions, taking photographs and noting approximately how much each item cost. If you’re purchasing renters insurance as a college student or young adult with few valuable possessions, you might need less personal property coverage than individuals with more valuable possessions.
- Collect receipts: When making new significant purchases, you should save the receipts so that you have a record of how much they cost for insurance purposes. This can make it easier to file a claim in case anything happens to your property.
- Estimate value by category and total cost: In order to determine how much personal property coverage you should purchase, it’s a good idea to estimate your possessions’ value by category and total cost.
- ACV vs. RCV: Some insurance policies cover your personal property based on the RCV, or replacement cost value, which is the amount that it would cost to replace lost or damaged items with a new version of that item. Others cover your personal property based on the ACV, or actual cost value, which is the value of your possessions after they have depreciated. ACV coverage is typically less expensive than RCV coverage, so you should be sure to clarify with your insurance provider which kind of coverage they offer.
Get Free Online Renters Insurance Quotes
Getting multiple quotes from different renters insurance providers can help to ensure that you get the best possible rates. Comparing renters insurance quotes is easy to do online. While renters insurance rates can vary greatly depending on where you live and how much coverage you need, the average cost of renters insurance is just $13 per month, making it an affordable way to protect your possessions.
Compare Renters Insurance Policies
When comparing the price of renters insurance policies, make sure you’re comparing apples to apples. If you got a quote for a policy with $20,000 in personal property coverage, use the same coverage amounts when you get a quote from the next insurer.
And you should compare more than just rates. Even renters insurance policies that are similarly priced can vary significantly when it comes to how much they cover. In order to ensure that you’re making accurate comparisons and getting the most value out of your policy, you should compare policies with similar terms and coverage amounts. The best renters insurance policies are affordable without skimping on coverage and have a history of financial strength and customer satisfaction.