Updated: June 16, 2025
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The deductible you select directly impacts your renters insurance cost. A lower deductible will result in higher premiums.
Based on average costs, State Farm offers the cheapest $100,000 renters insurance policy at $250 per year.
Location also affects renters insurance costs, with some states having cheaper average rates than others. Depending on where you live, your credit score may also affect your premiums.
The average cost of renters insurance for $100,000 coverage is $426 annually or approximately $36 monthly. This rate is based on a policy with $100,000 personal property coverage, $100,000 liability coverage and a $1,000 deductible. Altering any of these limits can change your policy rate. Certain factors will also affect premiums.
The sections below highlight average $100,000 renters insurance costs based on deductible amount, company, location and credit score.
| $100K Personal Property / $100K Liability | $426 |
Your deductible amount will have a significant impact on your renters insurance premium. For instance, a policy with a $1,000 deductible costs an average of $426 yearly, while a policy with a $2,000 deductible costs an average of $391 annually.
The table below compares rates for policies with $100,000 in personal property coverage for different deductibles.
| $500 | $472 |
| $1000 | $426 |
| $1500 | $414 |
| $2000 | $391 |
Your choice of insurance provider can greatly affect your premium because each provider uses different factors to evaluate coverage. For instance, a $100,000 renters insurance policy with Travelers costs an average of $849 per year, which is $599 more than the same policy at State Farm.
Use the table below for a clear breakdown of rates from different providers for $100,000 in personal property coverage with a $1,000 deductible.
| State Farm | $250 |
| USAA | $266 |
| Erie | $388 |
| Nationwide | $412 |
| Allstate | $414 |
| Farmers | $494 |
| Chubb | $751 |
| Travelers | $849 |
Personal property coverage safeguards your belongings, from electronics to furniture and clothing, against potential risks like theft, fire or damage. You can protect your valuables with this coverage in place.
The cost of renters insurance isn't uniform across all states. The average cost of $100,000 renters insurance coverage is $986 in Florida but $200 in Wyoming.
Factors like regional weather patterns, local crime rates and state-specific regulations can influence the premiums insurance companies offer. Review the table below to explore how rates for a policy with $100,000 in personal property coverage might differ depending on your state of residence.
| Alabama | $722 |
| Alaska | $279 |
| Arizona | $455 |
| Arkansas | $538 |
| California | $461 |
| Colorado | $238 |
| Connecticut | $460 |
| Delaware | $373 |
| District of Columbia | $467 |
| Florida | $992 |
| Georgia | $642 |
| Hawaii | $401 |
| Idaho | $330 |
| Illinois | $343 |
| Indiana | $380 |
| Iowa | $225 |
| Kansas | $289 |
| Kentucky | $330 |
| Louisiana | $723 |
| Maine | $323 |
| Maryland | $432 |
| Massachusetts | $595 |
| Michigan | $471 |
| Minnesota | $391 |
| Mississippi | $846 |
| Missouri | $317 |
| Montana | $393 |
| Nebraska | $337 |
| Nevada | $344 |
| New Hampshire | $278 |
| New Jersey | $364 |
| New Mexico | $264 |
| New York | $439 |
| North Carolina | $677 |
| North Dakota | $248 |
| Ohio | $393 |
| Oklahoma | $544 |
| Oregon | $387 |
| Pennsylvania | $494 |
| Rhode Island | $608 |
| South Carolina | $504 |
| South Dakota | $262 |
| Tennessee | $433 |
| Texas | $446 |
| Utah | $242 |
| Vermont | $306 |
| Virginia | $423 |
| Washington | $334 |
| West Virginia | $284 |
| Wisconsin | $218 |
| Wyoming | $199 |
If you reside in a state with crowded metropolises, regions prone to wildfires or areas with a high cost of living, your renters insurance might come with a heftier price tag. However, being in a costly state doesn’t mean affordable renters insurance options are out of reach, as you can always compare quotes from renters insurance providers.
The table below details the rates for a $100,000 personal property coverage policy with a $1,000 deductible in the states ranked "Most Expensive."
| Florida | $992 |
| Mississippi | $846 |
| Louisiana | $723 |
| Alabama | $722 |
| North Carolina | $677 |
| Georgia | $642 |
| Rhode Island | $608 |
| Massachusetts | $595 |
| Oklahoma | $544 |
| Arkansas | $538 |
You will likely enjoy more favorable renters insurance rates in states with less urban congestion and minimal weather-related claims. For instance, Wyoming is the least expensive state for renters insurance with $100,000 personal property coverage.
The table below breaks down the rates for a renters insurance policy with $100,000 in personal property coverage and a $1,000 deductible in the 10 states with the most appealing rates.
| Wyoming | $199 |
| Wisconsin | $218 |
| Iowa | $225 |
| Colorado | $238 |
| Utah | $242 |
| North Dakota | $248 |
| South Dakota | $262 |
| New Mexico | $264 |
| New Hampshire | $278 |
| Alaska | $279 |
If you have bad credit, expect to pay an average of $1,188 annually for $100,000 in renters insurance. This is $762 more than the cost for those with good credit.
Your credit score reflects your financial journey, which is why it influences insurance rates. Review the table below to see how rates for a policy with $100,000 in personal property coverage can change depending on your credit score.
| Excellent | $336 |
| Good | $426 |
| Fair | $545 |
| Below Fair | $747 |
| Poor | $1188 |
**Note: If you live in California, Maryland or Massachusetts, your credit score will not affect your premiums.
The best renters insurance policy and provider depends on your needs. Comparing quotes from multiple providers can help determine the right option for you. Use our renters insurance calculator below to get accurate estimates from different insurers.
MoneyGeek's renters insurance calculator will give you a customized estimate of your renters insurance costs.
It's free to use, requires no personal information and we won't send you any spam.
Rates updated:
Jun 30, 2025
Although MoneyGeek partners with some of the companies we recommend, our content is written and reviewed by an independent team of writers, editors and licensed agents. Learn more about our editorial policies and expert editorial team.
Policy rates can differ significantly based on multiple factors, from your location to your credit score, coverage amount and beyond. These components not only determine your rate but also offer a glimpse into how insurance companies view risk and value.
Some factors that affect rates include:
The extent of your renters insurance coverage directly impacts your premiums. While ensuring sufficient coverage to replace all personal items is important, be mindful of higher rates for comprehensive insurance. Special items like jewelry or artwork might require additional riders.
Decide between actual cash value (depreciated value) or replacement cost (new item's value). The latter typically comes at a higher premium but offers better coverage.
Rates rise in areas with higher crime rates, extreme weather or older properties. States prone to natural disasters, like Louisiana, often have higher premiums than states like New Hampshire.
A higher deductible means a lower premium, and vice versa. Decide whether to pay more monthly or during claims.
Companies price their policies differently. Shopping around is key to finding a competitive rate with the coverage you need.
When setting up your personal property coverage, you can choose between actual cash value (ACV) and replacement cost value (RCV). ACV reimburses you for your belongings, considering their depreciated value and factoring in wear and tear.
By contrast, RCV compensates you for the cost of replacing the item with a brand-new one of comparable quality. Choosing between the two affects how your possessions are valued after a covered loss.
Criteria | Actual Cash Value (ACV) | Replacement Cost Value (RCV) |
|---|---|---|
Basis of Valuation | Considers item’s depreciated value with wear and tear. | Based on the cost of a brand-new replacement. |
Payout Amount | Usually less due to depreciation. | Typically higher as it aims to cover the full cost of a new item. |
Premium Cost | Generally cheaper. | Tends to be more expensive. |
Determining if $100,000 in coverage meets your needs depends on your unique situation. You want to avoid being under- or overinsured to ensure you get the best value for your money. Below are a few things you can do to gauge your renters insurance coverage requirements properly.
Start by creating a comprehensive list of items in your home, especially the valuable ones.
Consider getting a professional appraisal for items like jewelry or antiques. An appraisal ensures you don't underestimate their worth.
Add the estimated value of everything on your list. The total amount will provide a ballpark value of your total assets.
Consider possible incidents where you might be held accountable. Would $100,000 cover potential damages?
As you acquire new items or your circumstances change, revisit your coverage needs yearly.
The coverage amount you choose influences your annual premium. For example, getting $250,000 in personal property coverage costs an average of $1,085 annually. This is $824 more than the cost to get $50,000 in coverage. Getting $100,000 in renters insurance may seem like a good choice, but finding a balance between price and comprehensive protection that suits your needs is more important.
Renters insurance covers three main things: personal property, liability and additional living expenses. These coverages help protect your belongings, cover legal costs if someone sues you and pay for temporary living arrangements if your place becomes uninhabitable.
Insurance providers consider several factors when determining renters insurance premiums, resulting in varying rates. Knowing average costs for different renter profiles and coverage needs can help you estimate your potential costs.
Learning how much renters insurance costs for $100,000 in personal property coverage can help you strike a balance between your needs and budget. If you're considering this coverage amount, you may need to pay an average of $426 per year.
This rate is based on a policy offering $100,000 personal property coverage, $100,000 liability coverage and a $1,000 deductible. However, remember that rates can vary based on factors like your chosen deductible, the insurance provider and your state.
We answer common questions about $100,000 renters insurance costs to help you understand how premiums are calculated and determine if this is the right coverage limit for your family's needs.
The average cost of renters insurance with $100,000 in personal property coverage is $426 per year. This is for a policy with $100,000 in liability coverage and a $1,000 deductible. Any changes to these limits will affect your policy premiums.
Whether $100,000 in personal property coverage is enough for you depends on your possessions. This coverage amount is worth considering if you’ve made significant investments in your rental's furnishings and assets.
Take a home inventory to estimate the total value of your belongings and use that as the basis for your coverage needs.
Factors influencing renters insurance costs include your location, selected coverage limits, deductible amount, insurance provider, coverage type, credit score and the insurer’s underwriting guidelines.
There are several ways to lower your renters insurance costs. You can start by raising your deductible, bundling renters and auto insurance, installing safety devices or maintaining a good credit score to reduce your premium. Comparing quotes from multiple insurers can also help.
Among major insurance providers, State Farm offers the lowest average cost for $100,000 renters insurance at around $250 per year. Rates vary, so it’s best to compare options based on your location and needs.
MoneyGeek, in partnership with Quadrant Corp, analyzed renters insurance quotes across all 50 states to determine the average cost of renters insurance. Average cost was determined using personal property coverage of $100,000, liability coverage of $100,000 and a deductible of $1,000.
Methodology
MoneyGeek’s evaluation of renters insurance premiums utilizes data sourced from Quadrant Information Services.
Renters Insurance Profile
In this study, MoneyGeek focused on a particular profile of renters, characterized by:
Moreover, the research also encompassed scenarios involving renters with varying credit histories and different records of insurance claims.
Renters’ Insurance Coverage Details
Calculations for the average home insurance rates were based on the following policy specifics:
Additionally, MoneyGeek's investigation included an exploration of deductibles varying between $500 and $2,000.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
