How Much Is Renters Insurance? Average Costs And Providers In 2024

If you’re currently renting an apartment or house, renters insurance is a necessity. This coverage protects your personal belongings in the event of a theft, fire, or other unexpected event. And if you’re temporarily displaced from your home, renters insurance may help pay for your living expenses.

Fortunately, renters insurance is also relatively cheap for most people. So, if you’ve been wondering how much renters insurance costs, this article will review the average prices and coverage options.

Renters Insurance Costs Across The United States

In the U.S., the average cost of renters insurance is $172, though your coverage limits, deductible and location determine the exact costs. The following table outlines the average costs in all 50 states and the District of Columbia, according to the Insurance Information Institute. However, individual rates vary and this table is meant to give you an average cost for your area.