The average renters insurance cost in the United States is about $14 per month, or about $170 per year.2 However, renters insurance prices per month vary depending on factors like where you live and your coverage amounts.
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Key Takeaways
- According to national averages, the cost for renters insurance is about $170 per year, making it a smart choice for many renters as it helps protect their belongings from a range of risks.3
- Prices will vary based on personal factors. For example, renters in some states may pay closer to $10 per month, while others could see rates up to $30 per month
- The Hartford’s representatives are here to help you find out your unique renters insurance price.
Factors That Impact the Cost for Renters Insurance
Renters insurance rates depend on factors such as your location, deductible and coverage limits. When deciding how much protection you need, it’s helpful to determine the estimated value of your items if you had to replace all of them. For example, you may choose a personal property coverage amount of $25,000 to help cover your personal belongings in full in case you ever need to file a renters insurance claim.
In addition, you’ll want to make sure you have enough liability coverage to help pay for any legal expenses if you’re found responsible for damaging someone else’s property or if a guest gets hurt at your home and sues you. Many people choose a limit of at least $100,000 for personal liability coverage, but keep in mind the coverage amounts you choose play a direct role in your final price.
AARP® Home Insurance from The Hartford1 offers customizable coverage options to meet your unique needs at a price that fits your budget.
Rental Location
Location is a major factor in determining the cost of your renters insurance coverage. For example, if your apartment is in the middle of tornado territory, your renters insurance price may be higher compared to locations with milder weather. Areas with high crime rates can also have increased renters insurance costs.
Rental Home Type
The type of rental you live in can play a role in how much you pay for renters insurance. In many cases, insuring a single-family home may be more expensive than insuring a stand-alone apartment unit, since single-family homes tend to have a higher risk of theft or other risks.
When it comes to the renters insurance cost for apartments, the size of the building can also make a difference. Larger apartment complexes, especially high-rise buildings, may have lower insurance rates than smaller properties with only a handful of units. This is because high‑rises often offer enhanced security measures and fire safety features that can reduce the likelihood of claims.
Rental Insurance Policy Limits
How much renters insurance coverage you buy and the limits will influence your price. For example, if you want to cover $30,000 of your personal property or belongings, expect to pay more than if you covered only $10,000.
When choosing what you want to include in your rental insurance coverage, it can be helpful to create an inventory of high-value items like cameras, jewelry and electronics, and take photos of serial numbers and receipts for each item. This can help prove ownership of your items in the event of a covered loss.
Ultimately, the best policy will provide liability coverage and protection for your belongings to help you avoid paying out of pocket if an accident occurs.
Need more coverage? Valuable items blanket coverage from The Hartford provides additional protection for certain valuables. For instance, if your insured jewelry gets stolen, this coverage can help pay to fully replace it.
Insurance Score or Credit Score
Insurers use credit and insurance scores to calculate your renters policy premium but only in states that allow it. Your insurance score is generally derived from information on your credit report. Insurance companies use this information because historical data suggests a correlation between your credit history and insurance risk. If you have a high credit score, you might have lower renters insurance costs.
Your Deductible
Selecting a lower deductible usually means your insurance company takes on more financial risk, which can result in a higher premium. On the other hand, choosing a higher deductible often lowers your renters insurance price, because you’ll be financially responsible to pay more out of pocket if you file a claim for a covered event. This trade‑off can help reduce your policy cost if you’re comfortable paying more for repairs or replacements, but it’s a personal decision based on your budget and insurance goals.
From helping to pay medical bills, lost wages or additional living expenses after an accident, renters insurance from The Hartford can help protect you when you need it most.
How To Save on Your Renters Insurance Cost
With AARP Home Insurance from The Hartford, it’s easy to save on renters insurance costs by taking advantage of these discounts and benefits:
Bundling Insurance Policies
When you bundle renters insurance with your car insurance through The Hartford, you save on both policies. Specifically, you can save up to 20% on your renters insurance policy and up to 12% on your auto policy.**
Plus, adding auto insurance to your home policy unlocks even more car insurance savings, like a discount for paying in full.
24-Hour Security Service Credit
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 renters insurance premium. Verifying if you have this service can be as easy as checking with your landlord.
Optional Coverages and Benefits
The Hartford offers optional separate coverages and policy extras you can add to extend your protection.
“New for Old” Protection‡‡ helps replace your destroyed belongings with new ones of the same quality, which can offer long-term savings if any of your things get damaged.
Disappearing Property Deductible‡‡ reduces your deductible every year when you go three consecutive years without having an insurance loss.
Identity fraud expense coverage reimburses you for out-of-pocket expenses, up to certain limits, to help you recover after fraud or identity theft.
Get a Quote From The Hartford for Renters Insurance
“How much will renters insurance cost?” It’s a question we hear often. At The Hartford, we’re committed to helping you get the coverage you need to enjoy peace of mind at home at a price you deserve. To discuss how much coverage you may want or how to save on renters insurance costs, call The Hartford at 877-422-2345 or get a quote online today.
Frequently Asked Questions About Renters Insurance Costs
What Is the Renters Insurance Average Price in My City?
The average price of renters insurance in your city or town depends on factors like your specific state/location, the size of your city or town, extreme weather risks or crime rate. The best way to get your personal AARP member price is by calling The Hartford directly at 877-422-2345 or getting a quote online.
How Much Is Renters Insurance Per Month vs. Per Year?
According to recent rates, the average renters insurance cost in the United States is around $14 per month, or about $170 per year.4 Keep in mind this price depends on factors like where you live and how much protection you have on your policy, like property damage coverage.
How Much Is Rental Insurance for New Renters?
Per the latest U.S. data, the average renters insurance premium is about $14 per month or $170 per year.5
Availability of credits or savings may vary by state or policy plan.
2,3,4,5 Bankrate, “Average Cost of Renters Insurance in 2026,” viewed February 2026.
** Average annual savings are based on information reported by customers who switched to The Hartford’s newest rate plan between 9/1/24 and 8/31/25. Average auto insurance savings $597 and average home insurance savings $366. Your savings may vary. Rate differences for AARP members and non-members vary by state and AARP membership tenure. Auto/Home discount is available only to policyholders who have both their auto and home (or condo or renters) insurance through the AARP Auto & Home Insurance program from The Hartford. The Hartford does not write new business in all areas, including the states of CA and FL.
§ Availability of RecoverCare benefit and benefit levels vary by state. The Hartford RecoverCare Advantage® is a registered mark of The Hartford.
§§ Terms and conditions apply.
‡ Terms and conditions apply. Accident Forgiveness and the Disappearing Deductible are not available to CA policyholders.
‡‡ Terms and conditions apply. Availability varies by state.
‡‡‡ Based on one car and driver; individual rate/premium/savings will vary based on actual coverage selections and characteristics of vehicle(s)/driver(s).
Additional disclosures below.