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Renters Insurance Quotes

Renters insurance affordably protects your belongings for an average of $19/month.
See average rates from GEICO, Allstate, State Farm, and more below
Or, get a quote from Liberty Mutual starting at $5/mo.
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By Ross Martin

Updated May 8, 2025

  • Reviewed By Mark Friedlander
  • Edited By Susan Meyer

What is renters insurance?

Renters insurance covers your personal property and liability from covered losses. The coverage is quite affordable too, with an average cost of $19 per month. Insurance Programs licensed agents can provide you with renters insurance quotes to get you started.

Read on to explore what a typical renters policy will cover as well as the additional coverage options and average premiums from top insurance providers.

Key Takeaways

  • Car insurance rates vary by person and by company. Who you pick as your insurance provider can be just as impactful as your driving record.
  • It is recommended to compare auto insurance quotes from different companies every six months.
  • The fastest way to get multiple quotes is with independent agents or comparison websites. 
  • Insurance Programs is both an independent insurance agency and a comparison website. Whether you’re ready to compare car insurance or are just looking for a quick answer, Insurance Programs is here to help.

How much does renters insurance cost?

RENTERS INSURANCE RATES FROM POPULAR COMPANIES

Insurance ProviderAverage Yearly Renters RatesMonthly Rate
Allstate$372$31
American Family$289$24
Farmers$246$20
Liberty Mutual$285$24
MetLife$283$24
Nationwide$253$21
Progressive$305$25
State Farm$179$15
Travelers$217$18
USAA$186$15
  • Tip: Renters insurance bundling

Along with protecting your belongings, renters insurance can lead to discounts on other lines of insurance — namely, auto insurance. Consider bundling your renters and car insurance insurance policies to obtain a multi-policy discount. Bundling renters and auto policies can save you an average of $79 per year!

Renters insurance premiums by state

Below is a state-by-state breakdown of the cost of renters insurance.
StateAverage Renters RatesAverage Monthly Premium
Alaska$185$15
Alabama$271$23
Arkansas$307$26
Arizona$242$20
California$219$18
Colorado$209$17
Connecticut$291$24
Washington DC$235$20
Delaware$249$21
Florida$256$21
Georgia$270$22
Hawaii$241$20
Iowa$171$14
Idaho$196$16
Illinois$239$20
Indiana$331$28
Kansas$256$21
Kentucky$206$17
Louisiana$451$38
Massachusetts$215$18
Maryland$228$19
Maine$142$12
Michigan$265$22
Minnesota$162$13
Missouri$284$24
Mississippi$316$26
Montana$227$19
North Carolina$280$23
North Dakota$156$13
Nebraska$190$16
New Hampshire$163$14
New Jersey$223$19
New Mexico$223$19
Nevada$200$17
New York$316$26
Ohio$215$18
Oklahoma$273$23
Oregon$196$16
Pennsylvania$232$19
Rhode Island$289$24
South Carolina$220$18
South Dakota$173$14
Tennessee$226$19
Texas$379$32
Utah$163$14
Virginia$219$18
Vermont$113$9
Washington$168$14
Wisconsin$165$14
West Virginia$284$24
Wyoming$133$11
 

How to get a renters insurance quote

There are several ways to get renters insurance quotes, but the best option is to compare quotes from several companies at once. Insurance Programs in-house insurance agency works with top carriers nationwide to sell renters insurance policies. Reach out to our knowledgeable agents so they can help you find the best coverage for your needs.

The average annual rate for a renters insurance policy is $233, or $19 per month. However, your rates will depend on several factors such as your address and the types of coverage and limits that you elect.

To provide an estimate, we used Insurance Programs dynamic rate tool to compile average premiums for a variety of rates. We averaged personal property limits of $50,000 from top companies across the U.S

Connect with a friendly licensed agent

Reach out to one of our insurance experts for help finding the right coverage to meet your needs.

How to compare rental insurance quotes

When comparing renters insurance quotes, it’s crucial to ensure you’re making an informed decision that balances cost with the coverage you need. Here are key steps to follow:

  1. Assess Your Needs: Know the value of your belongings and the coverage you need (e.g., personal property, liability).

  2. Get Multiple Quotes: Insurance Programs recommends that you compare quotes from various insurers for a broad perspective. Our insurance agency can do this on your behalf.

  3. Examine Coverage and Deductibles: Check the limits of coverage and the deductibles. Lower premiums might mean less coverage or higher out-of-pocket costs.

  4. Look for Extra Features: Some policies offer additional protections like identity theft or living expense coverage.

  5. Understand Exclusions: Be clear about what’s not covered, such as flood or earthquake damage.

  6. Research the Insurer: Consider the company’s customer service reputation and financial stability.

    1. Inquire About Discounts: Discounts might be available for security systems, non-smokers, or bundled policies.

How does renters insurance work?

Renters policies work differently than standard homeowners policies. While you are renting a home or apartment, your renters policy covers only your personal belongings. You do not have to worry about insuring the structure, walls or fixed furniture — this is covered by your landlord’s policy.

In a typical HO-4 policy, renters insurance has four primary coverage options:

  • Your liability
  • Your personal property
  • Your additional living expenses
  • Medical payments to others
Every renters insurance policy is a named peril policy: your insurance will cover you in the event of any of the circumstances specifically listed on your policy. A peril is a cause of damage.
For example, if your apartment were to catch on fire and the contents of your living room were destroyed, your renters insurance would compensate you up to your coverage limits. For more information about these coverages, have a look at our guide to renters insurance coverage.
  • Fire
  • Lightning
  • Wind
  • Hail
  • Explosions
  • Civil unrest
  • Aircraft
  • Vehicles
  • Smoke
  • Vandalism or malicious mischief 
  • Theft
  • Volcanic eruption
  • Falling objects
  • Weight of snow, ice or sleet
  • Accidental discharge or overflow of water or steam from an appliance, or a plumbing, heating or air conditioning systems
  • Sudden and accidental tearing apart, cracking, burning or bulging of a steam or hot water system, air conditioning or automatic fire-protection system
  • Short-circuit damage caused by electrical appliances

Expert insight from Insurance Programs

"Renter's insurance covers you in case you have a claim and your property is damaged or someone is injured. You pay the insurance company and if you have a claim they will pay up to the limits on your policy to get you back to the same financial place you were before you had the claim"

Nathan Foster — Licensed insurance professional at Insurance Programs

What is and isn’t covered by Renters Insurance

Typically Covered by Renters InsuranceTypically Not Covered by Renters Insurance 
Personal property damage (fire, theft)Property damage due to natural disasters (floods, earthquakes) 
Liability for injuries in your rentalRoommate’s belongings (unless specified in policy) 
Additional living expenses (hotel stays)Automobiles and related items 
Medical payments for guests’ injuriesDamage from intentional acts or gross negligence 
Personal property away from homeBusiness equipment (professional use) 
Theft of or damage to rented itemsHigh-value items beyond a certain limit (jewelry, art) without a rider 
Accidental damage to someone else’s propertyWear and tear or maintenance issues

Items that aren't covered or that require special coverage

Not all items are automatically covered. This list below shows some items that typically aren’t covered (or that are only covered up to a certain amount). Oftentimes these items require specific endorsements or “riders” to increase this coverage amount.
Sub-limitPropertyLimitations
$200Money, coins, gold 
$1,500Jewelry, watches, fursTheft only
$1,500Watercraft, trailersTheft only
$2,500Firearms 
$2,500Silverware 
$2,500Business propertyOn-premises
$500Business propertyOff-premises
VariesElectronics 
 

Learn about the sub-limits on personal property coverage and get a more in-depth analysis of renters insurance coverage options.

What does renters insurance not cover?

It’s important to keep in mind the events renters insurance does not cover. Renters insurance doesn’t protect anything the policyholder doesn’t own. The structural aspects of your apartment or home aren’t covered by renters insurance, only your belongings.
Renters insurance also doesn’t cover damages caused by earthquakes or floods. Some insurance companies offer additional earthquake insurance, while flood policies are typically handled through FEMA.
Landlords typically do not provide renters insurance. It’s a product you should shop for and purchase yourself.

Q: Is renters insurance required?

A: Though renters insurance is not mandated by law — like auto insurance is, for example — it’s legal for landlords to require tenants to have renters insurance coverage.
According to licensed agent Nathan Foster, “Most apartment complexes and landlords require insurance. You never know what condition the house is in when you move into it. If the roof leaks and damages some of your belongings, your landlord’s insurance policy will likely not pay for that. That would fall on your personal renter’s insurance policy.”
Having renters insurance works in both the landlord’s and tenant’s favor; it covers the tenant for both liability and their personal belongings, meaning that the landlord won’t be held responsible if you accidentally cause a fire or a guest of yours is accidentally injured. It’s an affordable way to keep your landlord happy and your property safe.

Additional considerations before you purchase

Prior to purchasing renters insurance, consider the factors below:

1. Determine your coverage needs

Complete a home inventory to document your belongings. This will help you determine the amount of coverage you require and speed up the claims process in the event of an incident.

2. Decide if you want to share your renters insurance policy with a roommate

If you’re sharing an apartment, consider sharing a renters insurance policy with your roommate. Sharing a renters policy splits the bill — although renters insurance is often relatively affordable to begin with. If the policy is in your name, any claim your roommate files would be on your policy as well. If your roommate files multiple claims, you could face a rate hike or policy cancellation. See more information on renters insurance with roommates and renters insurance for college students.

3. Explore additional coverage options

If you own high-value belongings, inquire about coverage for those items. You may want to consider a scheduled endorsement or rider. An endorsement is a coverage add-on for a high-value item that exceeds normal policy coverage limits.
Furthermore, your insurer may offer further coverage for things like electronic devices or sewer-backup that are not covered on a standard policy. These endorsements can usually be added for a small increase to your monthly premium.

4. Consider replacement cost coverage

dMost insurance providers will reimburse you for your personal property based on an actual cash basis — which deducts depreciation from your payout. However, replacement cost coverage reimburses you for the amount it would take to buy the same item at its current market value. Many insurance companies will allow you to add this coverage via an endorsement.

Renters insurance FAQs

Review a few of the most commonly asked renters insurance questions — and answers — below.

RECENT QUESTIONS

Other people are also asking…

Do I have to file a claim with my renters insurance company if my apartment was flooded by an upstairs neighbor?

For the purpose of getting your belongings replaced as quickly as possible, I would definitely recommend contacting your renters insurance provider immediately. While your neighbor will likely be considered liable for the water leak, your insurance company should be able to act quickly to replace y…


Mar 13, 2017             Naperville, IL

Can I sue if a ceiling collapsed on me after repairs?

First off, I’m sorry to hear that happened and I hope your brother is okay.In that situation, you would want to seek legal advice given there are several variables at play. The fault might be shared by both the landlord and the repair company but an insurance adjuster would be the one to determine …


Jan 27, 2019         Richmond, VA

Will my renters policy cover additional living expenses?

Unfortunately, renters insurance only covers your personal property and personal liability – not the property itself or displacement due to an issue with the dwelling. Since it is an issue with the dwelling, your landlord should have coverage for this type of issue on their policy. I would check wi…


Dec 14, 2018        Bronxville, NY

What is the difference between a DP-1 and a DP-3 policy?

This is an excellent question, thanks for asking! Home insurance can definitely be confusing.The “DP” in DP-1 and DP-3 stands for “Dwelling Policy.”  These policies are typically reserved for homes that you own that are rented to a tenant. Dwelling policies may also apply to vac…


Dec 19, 2022         Columbus, OH
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