Question 1

How much does renters insurance cost per month?

Accepted Answer

The cost of renters insurance depends on various factors, including the value of your personal property, where you live and how much coverage you buy. Some of the most affordable renters insurance policies cost only a few dollars a month. The national average for renters insurance with $20,000 in personal property coverage is $13 per month.

Question 2

How much does $100k personal property renters cost per month?

Accepted Answer

Costs for $100,000 of personal property coverage depend on where you live, along with other personal factors. The national average for this coverage level is $375.

Question 3

How much does State Farm cost per month for renters insurance?

Accepted Answer

The national average for a renters insurance policy from State Farm is $11 per month. At the low end, a State Farm policy in Iowa costs $6 per month, and at the high end, a State Farm policy in Mississippi costs $25 per month.

Question 4

What factors affect the cost of renters insurance?

Accepted Answer

Many different factors affect renters insurance costs, including where you live, risk factors like hurricanes and wildfires, the value of your personal property and what coverage limits you choose. You may also have to purchase additional coverage for valuable items.

Question 5

How much should renters insurance cost?

Accepted Answer

The national average for renters insurance is $159 per year, so if you can get below that, you’re ahead of the game. Since renters insurance costs are dependent on your personal situation, you should shop around and compare renters insurance quotes before deciding on a policy.

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