How Much Is Renters Insurance?

Updated June 10, 2026 · 4 min read

Renters insurance is one of the best deals in insurance: broad protection for a small monthly price. Here’s what to expect and what moves the number.

Average cost

Most renters pay roughly $15–$25 per month ($180–$300 a year) for a standard policy. Many pay even less, especially with a higher deductible or a bundle discount.

What drives your price

• Coverage amount — how much personal property coverage you choose (e.g. $20k vs. $50k).
• Deductible — a higher deductible lowers your premium.
• Location — your ZIP and the building’s risk profile (crime, weather) matter.
• Liability limit — higher limits cost a little more.
• Claims history and credit (in most states).

How to pay less

• Bundle renters with auto — often the biggest single discount.
• Raise your deductible if you have an emergency fund.
• Ask about discounts for security systems, smoke detectors, and being claim-free.
• Compare several insurers — prices for the same coverage vary widely.

How much coverage do you need?

Add up what it would cost to replace your belongings (furniture, electronics, clothing). Most renters underestimate this — do a quick room-by-room tally. For liability, $100k is a common starting point. See what renters insurance covers for the full picture.

The bottom line

For about the price of a streaming bundle, renters insurance protects your belongings and your liability. Compare renters quotes to see your real price.