How Much Is the Average Renters Insurance?
The average cost of renters insurance in the United States typically ranges from $14 to $30 per month, or about $170 per year.2 However, your exact price may vary depending on factors like where you live, the amount of coverage you choose and your deductible. For example, renters in some states may pay closer to $10 per month, while others could see rates up to $25 or $30 per month. Getting a personalized quote is the best way to find out your exact cost.
For example, having an address in the middle of tornado territory or hurricane area can drive the average rental insurance cost up compared to locations not in those areas. Also, increasing the limit of valuable jewelry or electronics or getting extra liability coverage will increase average
renters insurance costs. Keep in mind that liability coverage will help cover the costs associated with another person’s injury on and off your property, and for damage done to others. For example, say you throw a dinner party and one of your guests trips, falls and hurts their leg on an uneven surface in the apartment. Your liability coverage will help pay the medical bills needed for healing their leg.
Renters Insurance Cost Varies Based on Four Factors
Renters insurance rates can depend on factors such as the geographic location of the rental apartment or home and the estimated value of your personal items if you were to replace all of them. One of The Hartford’s experienced insurance agents can help you determine an estimate of the value of your personal belongings and give you a renters insurance quote online or over the phone.
Rental Location
Location is a major factor for determining the cost of your renters insurance. The location of your apartment can tell a lot about what may happen to the property in the future. For example, rates go down for rental properties located in an area with less crime. In contrast, rental properties located in an areas prone to natural disasters such as earthquakes, tornados or hurricanes will likely have higher rates. For example, properties in Florida or Texas may have higher rates due to risk of hurricane damage. Determining the rate involves expected future happenings based on your rental location and its property coverage.
Rental Insurance Type of Coverages
Rental insurance can fluctuate depending on what part and how much of your personal property you want to be covered. For example, if you are going to cover $30,000 of your personal property or belongings, you would expect to pay more than if you wanted to cover only $10,000. When choosing what you want to include in your rental insurance coverages, take an inventory of your assets. This will help you understand the level of coverage you need for your personal belongings.
To effectively inventory your assets, you will need to document items of value. Start by making a list of items. From there, take photos and videos of each item. This can help prove ownership of items in the event of a loss. Also, include descriptions, serial numbers, receipts, appraisals, the date each item was purchased and how much it cost. Be sure to include any warranties you have for items.
Your home inventory should include items such as furniture, appliances, electronics and special equipment. Clothing, books and kitchen utensils can be included by tallying the number of each type you own. Remember to store your inventory in an accessible place and create a backup copy. Google Docs is a good option for your backup. Over time, your assets will change and evolve. This means that you will need to update your inventory regularly.
Insurance or Credit Score
Credit and insurance scores are used to calculate your renters insurance premium, but only in states that allow it. Your insurance score is generally derived from information on your credit report. Insurance companies like The Hartford use this information because historical data suggests a correlation between your credit history and insurance risk. The higher your credit score, the lower the cost of your renters insurance premiums.
How to Save on Your Renters Insurance Cost
When you bundle your car and renters insurance with The Hartford, you save on both policies. with The Hartford, you save on both policies. With the AARP
® Auto & Rental Insurance Program from The Hartford,
1 you can receive savings of up to 20% on the cost of your
renters insurance and up to 5% on your auto insurance.**
24-Hour Security Service Credit
Want to save even more? If your apartment or rental unit features a 24-hour security service or has a monitored security system, you could receive a credit on your renter insurance rates. Verifying this can be as easy as checking with your landlord.
Rental Insurance Renewal Credit
Continue to renew your affordable home renters insurance policy with the AARP® Rental Insurance Program from The Hartford and watch your savings grow.
Last Updated: August 6, 2025
Availability of credits or savings may vary by state or policy plan.
2 Bankrate, “Average cost of renters insurance in 2025”
