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The average cost of renters insurance is about $13 a month, but if you shop around online and compare quotes from different companies, it could cost even less. When comparing online quotes, you’ll need to use consistent coverage levels to compare quotes accurately. Also, consider the company’s reputation and the level of customer service that they provide to find the best policy for your needs.

Insurance Rates

Compare Insurance Rates

Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.

MoneyGeek’s Renters Insurance Quotes Comparison

MoneyGeek compared thousands of renters insurance quotes for our sample renter. These numbers can be a starting point for your own online shopping. As you can see, our renter saved $18 a month by going with the cheapest company, Allstate, over the most expensive company. Your quotes may be different, but only comparison shopping can often save you money.

Average Renters Insurance Quotes by Company

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  • Company
    Average Annual Quote
  • 1.
    Allstate
    $119
  • 2.
    State Farm
    $127
  • 3.
    Farmers
    $156
  • 4.
    Travelers
    $162
  • 5.
    MetLife
    $166
  • 6.
    Nationwide
    $331

The price of renters insurance varies depending on factors such as:

  • Coverage limits
  • Deductible
  • Where you live
  • Available discounts

Allstate had the cheapest average rates overall, so checking with them is a good first step.

Insurance Rates

Compare Insurance Rates

Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.

Compare Renters Insurance Rates by State

Even though the average cost of renters insurance is $13 a month, tenants can pay much more or much less depending on their location. Individual states regulate insurance differently, and states prone to environmental hazards, such as hurricanes or other natural disasters, tend to pay more for insurance.

MoneyGeek gathered quotes and compiled averages by state so that you can compare the average rate for your state. This still might not reflect what you’ll pay, though. Your credit and claims history will affect your rates, as well as how much coverage you select.

Average Renters Insurance Quotes by State

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  • State
    Average Annual Quote
  • Alaska
    $91
  • Alabama
    $203
  • Arkansas
    $197
  • Arizona
    $147
  • California
    $238
  • Colorado
    $128
  • Connecticut
    $100
  • Washington D.C.
    $123
  • Delaware
    $129
  • Florida
    $119
  • Georgia
    $222
  • Hawaii
    $117
  • Iowa
    $103
  • Idaho
    $97
  • Illinois
    $124
  • Indiana
    $153
  • Kansas
    $128
  • Kentucky
    $125
  • Louisiana
    $160
  • Massachusetts
    $138
  • Maryland
    $130
  • Maine
    $88
  • Michigan
    $249
  • Minnesota
    $101
  • Missouri
    $150
  • Mississippi
    $215
  • Montana
    $114
  • North Carolina
    $106
  • North Dakota
    $79
  • Nebraska
    $119
  • New Hampshire
    $100
  • New Jersey
    $104
  • New Mexico
    $94
  • Nevada
    $129
  • New York
    $124
  • Ohio
    $142
  • Oklahoma
    $153
  • Oregon
    $114
  • Pennsylvania
    $194
  • Rhode Island
    $124
  • South Carolina
    $132
  • South Dakota
    $83
  • Tennessee
    $218
  • Texas
    $134
  • Utah
    $107
  • Virginia
    $127
  • Vermont
    $105
  • Washington
    $118
  • Wisconsin
    $108
  • West Virginia
    $121
  • Wyoming
    $125

Why and How to Compare Renters Insurance Quotes

The best way to save money on renters insurance is to shop around and compare quotes from different companies. Sometimes, policies with the same coverage limits will be much less expensive at a different company. For example, our renter saved $18 a month just by switching from Nationwide (the most expensive average rates) to Allstate (the cheapest).

Saving money is a top priority for most people, but you also need to compare coverages and customer service reputations. The best renters insurance companies combine the type of coverage you need with affordable rates.

How to Compare Renters Insurance Quotes

When you compare quotes for renters insurance, you’ll need to enter personal information and information about the property you’re renting. The amount of coverage you select, rather than the kind of property you rent, determines your renters insurance rates. Make sure to select coverage limits high enough to protect your personal property and keep those limits consistent across multiple quotes. If you don’t know how much your personal property is worth, start by taking an inventory.

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Getting a renters insurance quote requires personal information such as:

  • Name
  • Date of birth
  • Number of roommates
  • Whether you have any pets

You will also need to provide some info about your rental property, including:

  • Address
  • Type of property (house, apartment, condo, townhouse, etc.)
  • Number of units on the property
  • Security and safety devices
  • Distance to the nearest fire hydrant or fire station

To compare quotes correctly, select the same personal property coverage limits, liability limits and deductible across all insurers. This will ensure you’re using the same coverage when comparing quotes across different companies.

Other Ways to Save On Renters Insurance Quotes

Comparing quotes is the best way to save money on renters insurance, but there are a few other ways you can save.

Once you’ve settled on a company, use these strategies to save even more money.

  • Strategy
    How You’ll Save
  • Select a higher deductible
    Keep in mind this will increase your out-of-pocket costs if you need to make a claim, so make sure you have enough cash to cover the deductible.
  • Bundle renters insurance with your auto insurance to save
    Most companies offer both auto and renters insurance and will offer a discount of up to 15% if you bundle these policies.
  • Sign up for automatic bill pay
    Make sure there’s money in your account on the day of the withdrawal.
  • Select a lower amount of personal property coverage or personal liability coverage
    If you buy a renters insurance policy with personal property coverage limits much higher than the value of your stuff, you’ll be paying extra for unnecessary protection. But make sure you get enough insurance to cover your necessary items.

Get a Renters Insurance Quote Today

Once you you've collected your personal information and decided on your personal property coverage and liability limits, it's time to get a renters insurance quote. Use our tool to compare renters insurance rates, or visit insurer websites and gather individual quotes yourself.

Insurance Rates

Compare Insurance Rates

Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.

FAQ About Comparing Renters Insurance

Many people have no idea where to begin when shopping for renters insurance, so they forgo it altogether. According to the Insurance Information Institute, only 37% of renters have insurance. It’s a much better idea to protect yourself by getting renters insurance. These are some of the most common questions people have about renters insurance.


How much money can I save comparing renters insurance?This is an icon

The amount of money you’ll save by comparing quotes varies, but it can be significant. For example, our renter saved $18 a month by getting insured with Allstate instead of Nationwide.

What information do I need to compare renters insurance quotes?This is an icon

You’ll need basic personal information, such as your name, address, employment status and whether you have roommates. You’ll need some information about the property as well, such as how long you’ve lived there, type of property (house, apartment, condo, etc.) and how close it is to the nearest fire hydrant or station.

How do I get a renters insurance quote?This is an icon

You can either go to individual companies’ websites, or you can use an online broker that will collect several renters insurance quotes for you.

Expert Insight on Comparing Renters Insurance Quotes

MoneyGeek interviewed leading experts in the renters insurance field and asked them to weigh on some common questions.

  1. What are the most important things to look for when comparing online insurance quotes?
  2. Beyond comparing prices, what should consumers look for in a renters insurance policy?
  3. What are the biggest mistakes people make when comparing renters insurance quotes online?

Erik Wright
Erik WrightOwner & CEO of New Horizon Home Buyers
Christopher O’Rourke
Christopher O’RourkeVP of Property Claims at Mercury Insurance
Melanie Musson
Melanie MussonHome Insurance Expert
Earl L Jones
Earl L JonesInsurance Agent and Agency Owner at Farmers Insurance

Learn More About Renters Insurance

About the Author


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Gail Kellner is a professional financial writer who specializes in life insurance, auto insurance and personal finance. She earned her Bachelor's degree in Psychology from Western Connecticut State University and her Master's of Science from Indiana State University. She loves combining her knowledge of psychology with her financial expertise so people can make better financial decisions.


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