In the U.S., the average annual cost of renters insurance is$14.08 per monthbased on $30,000 of personal property coverage and a $1,000 deductible. Renters insurance premiums can vary significantly based on your location. Check the average cost in your area. ...
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Factors that influence the cost of renters insurance What does renters insurance not cover? How to save on renters insurance Frequently asked questions What is the average cost of renters insurance? The average cost of renters insurance in the U.S. is $170 per year or $14 per month, accordi...
The Insurance Information Institute recommends you purchase “enough insurance to replace all of your personal possessions in the event of a burglary, fire, or other covered disaster.” You can determine how much you have by taking inventory of your belongings. If you have high-value items, such...
We then compared the available renters insurance companies across several criteria, including sample monthly cost, coverages, discounts, additional coverages available, the company’s financial strength, and state availability. U.S. News’ insurance team applied an unbiased methodology that includes opini...
Renters insurance is available in all 50 states and Washington, D.C. However, states that have a high density of renters, such as California, New York and New Jersey, may have more active renters insurance markets with more companies and endorsements to choose from. Note that renters insurance...
few private insurers. Earthquake insurance may be purchased separately or added as an endorsement to an existing renters policy. For example, in California—obviously a high-risk state for earthquakes—the legislature created the nonprofitCalifornia Earthquake Authorityto help people get affordable ...
Cost-Effective Renters Insurance: With multiple discount options, Geico makes it easier to find an affordable renters insurance policy. Find out more in our Geico review. Flexible Discount Application: Geico’s numerous discounts can be tailored to your specific situation, potentially reducing your ren...
Renters insurance tends to cover loss or damage to items in the home related to fire, theft, vandalism, plumbing, and electrical malfunctions. Renters insurance can reimburse you based on replacement cost, which pays the full cost of replacing the items with new ones. ...
Check with your insurance company to find out what is and isn’t covered and whether you will need to get additional coverage. For example, suppose you live in an area prone to earthquakes, such as California. In that case, you may want to invest in additional earthquake insurance because...