The Average Renters Insurance Cost for 2022

NerdWallet compared rates across the U.S. to determine the average cost of renters insurance in every state.

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The average renters insurance cost in the U.S. is $179 per year, or about $15 per month, according to NerdWallet’s latest rate analysis. We based this estimate on a policy for a hypothetical 30-year-old tenant with $30,000 in personal property coverage, $100,000 in liability coverage and a $500 deductible.

While the nationwide average is a useful baseline, renters insurance rates vary based on where you live and how much coverage you need.

How much is renters insurance in your state?

Your home’s location is a major factor in the cost of your renters insurance. Check how much you can expect to pay for renters insurance in your state below.

State

Average annual cost

Average monthly cost

National average

$179

$15

Alabama

$206

$17

Alaska

$123

$10

Arizona

$177

$15

Arkansas

$227

$19

California

$204

$17

Colorado

$137

$11

Connecticut

$190

$16

Delaware

$155

$13

Florida

$211

$18

Georgia

$218

$18

Hawaii

$171

$14

Idaho

$141

$12

Illinois

$216

$18

Indiana

$188

$16

Iowa

$121

$10

Kansas

$188

$16

Kentucky

$183

$15

Louisiana

$249

$21

Maine

$168

$14

Maryland

$179

$15

Massachusetts

$200

$17

Michigan

$258

$22

Minnesota

$217

$18

Mississippi

$261

$22

Missouri

$147

$12

Montana

$161

$13

Nebraska

$145

$12

Nevada

$160

$13

New Hampshire

$132

$11

New Jersey

$160

$13

New Mexico

$148

$12

New York

$167

$14

North Carolina

$147

$12

North Dakota

$109

$9

Ohio

$201

$17

Oklahoma

$206

$17

Oregon

$154

$13

Pennsylvania

$129

$11

Rhode Island

$138

$12

South Carolina

$204

$17

South Dakota

$124

$10

Tennessee

$195

$16

Texas

$177

$15

Utah

$134

$11

Vermont

$127

$11

Virginia

$153

$13

Washington

$151

$13

Washington, D.C.

$164

$14

West Virginia

$147

$12

Wisconsin

$113

$9

Wyoming

$101

$8

These are the five most expensive states for renters insurance:

  • Mississippi: $261 per year, or $22 per month, on average.

  • Michigan: $258 per year, or $22 per month, on average.

  • Louisiana: $249 per year, or $21 per month, on average.

  • Arkansas: $227 per year, or $19 per month, on average.

  • Georgia: $218 per year, or $18 per month, on average.

Meanwhile, these are the five cheapest states for renters insurance:

  • Wyoming: $101 per year, or $8 per month, on average.

  • North Dakota: $109 per year, or $9 per month, on average.

  • Wisconsin: $113 per year, or $9 per month, on average.

  • Iowa: $121 per year, or $10 per month, on average.

  • Alaska: $123 per year, or $10 per month, on average.

How much is renters insurance in your city?

If you live in one of the country’s 25 largest metropolitan areas, you can find the average cost of renters insurance in your city below. Detroit is the most expensive at $299 per year on average (about $25 per month), while Pittsburgh is the most affordable at $129, or about $11 per month, on average.

City

Average annual cost

Average monthly cost

Atlanta-Sandy Springs-Roswell

$223

$19

Baltimore-Columbia-Towson

$177

$15

Boston-Cambridge-Newton

$189

$16

Chicago-Naperville-Elgin

$221

$18

Dallas-Fort Worth-Arlington

$179

$15

Denver-Aurora-Lakewood

$138

$11

Detroit-Warren-Dearborn

$299

$25

Houston-The Woodlands-Sugar Land

$213

$18

Las Vegas-Henderson-Paradise

$171

$14

Los Angeles-Long Beach-Anaheim

$221

$18

Miami-Fort Lauderdale-West Palm Beach

$216

$18

Minneapolis-St. Paul-Bloomington

$220

$18

New York-Newark-Jersey City

$191

$16

Orlando-Kissimmee-Sanford

$199

$17

Philadelphia-Camden-Wilmington

$153

$13

Phoenix-Mesa-Scottsdale

$182

$15

Pittsburgh

$129

$11

Riverside-San Bernardino-Ontario

$211

$18

Sacramento

$191

$16

San Antonio-New Braunfels

$175

$15

San Diego-Carlsbad

$198

$17

San Francisco-Oakland-Hayward

$207

$17

Seattle-Tacoma-Bellevue

$158

$13

Tampa-St. Petersburg-Clearwater

$239

$20

Washington, D.C.-Arlington-Alexandria

$147

$12

What’s included in renters insurance rates?

Most renters insurance policies include four basic types of coverage:

Personal property. If someone steals your belongings or a fire destroys them, this part of your policy would pay to replace them, minus your deductible. Renters insurance typically covers only specific events named in the policy.

Liability. This part of your policy covers lawsuit damages and legal expenses related to incidents like a guest getting injured in your home or your dog biting a stranger. (Note that some insurers won’t cover certain dog breeds.)

Medical payments. Often grouped with liability, this coverage will pay for a guest’s injuries on your property without requiring a lawsuit.

Loss of use. This coverage pays out if you need to relocate while your home is being repaired after a disaster listed in your policy. For example, it would cover hotel or restaurant bills beyond your normal expenses while you’re waiting to move back home.

Learn more about renters insurance coverage.

What determines your renters insurance cost?

Every insurance company calculates renters insurance rates a bit differently, but these are the most common factors that could influence your premium.

Where you live

If your home is in a region prone to natural disasters like hurricanes, wildfires or tornadoes, you’ll probably pay more for renters insurance. You may also pay more if your neighborhood has a high crime rate or your home doesn’t have a fire station or hydrant nearby.

Your previous claims

If you’ve filed claims in the past three to five years, even with a different company, your current insurer will likely see you as a greater risk. For example, a theft claim on your record can raise your premium more than 20%, a NerdWallet analysis found.

Claims history

Average annual cost

Average monthly cost

No recent claims

$179

$15

Recent theft claim

$217

$18

Your credit history

Renters insurance companies don’t check your FICO credit score, but in most states they do look at your credit-based insurance score, a similar measure. Studies have shown that those with poor credit are more likely to file claims, so insurers tend to charge them more. On average, renters with poor credit pay nearly 60% more than those with good credit, a NerdWallet analysis found.

Credit history

Average annual cost

Average monthly cost

Good credit

$179

$15

Poor credit

$285

$24

Using credit to set homeowners, renters, condo and mobile home insurance prices is not allowed in California, Maryland and Massachusetts.

Your dog

Because renters insurance typically includes liability coverage for dog bites, owning larger dogs or breeds considered more aggressive may cost you more. Some insurers may not cover certain breeds at all.

Your coverage limits

The more coverage you need, the more your policy will cost. For example, a family renting a three-bedroom house will almost always pay more to insure their stuff than a single person in a studio apartment across town. Below, see a sample of how your renters premium could change based on how much personal property coverage you need.

Personal property coverage limit

Average annual cost

Average monthly cost

$10,000

$131

$11

$30,000

$179

$15

$50,000

$235

$20

Raising your liability limit can also affect your premium, though it costs less than increasing your personal property limit. For example, it costs only $1 more a month on average to add an extra $200,000 of liability coverage.

Liability limit

Average annual cost

Average monthly cost

$100,000

$179

$15

$300,000

$191

$16

Your deductible

You can lower your premium by choosing a higher deductible — the amount you pay toward a claim before your insurer covers the rest. The difference in premium could be relatively small, though, and might not be worth it if you’d have trouble covering the larger deductible in an emergency.

Deductible

Average annual cost

Average monthly cost

$500

$179

$15

$1,000

$164

$14

How to lower your renters insurance cost

There are a variety of ways to save on your renters insurance, but these are the most common discounts.

Multipolicy. If you buy both renters insurance and another policy (such as auto insurance) with the same company, you may get a discount on one or both policies.

Claim-free. Renters with no recent claims are often eligible for discounts. “Recent” claims are typically within the past three to five years, depending on the company.

Safety and security devices. Many insurers will lower your rate if your home has burglar alarms, smoke detectors, sprinkler systems or other devices designed to reduce the risk of fire or theft.

Depending on your insurer, you could also save money by choosing paperless billing or autopay, or paying your policy in full rather than in monthly installments. Nonsmokers may also pay less.

Your best bet is to shop around. We recommend getting quotes from at least three different companies to make sure you’re getting the best possible deal.

Find the cheapest renters insurance in your state

Don’t see your state below? Check back soon — we’re adding more renters insurance stories all the time.

Methodology

NerdWallet averaged rates for 30-year-old tenants from multiple insurance companies in every ZIP code across all 50 states and Washington, D.C. We also averaged rates by city. Sample tenants were nonsmokers with good credit living in a two-bedroom apartment. They had a $500 deductible and the following coverage limits:

  • $30,000 in personal property coverage.

  • $100,000 in liability coverage.

  • $10,000 in additional living expenses coverage.

  • $1,000 in medical payments coverage.

We used the same assumptions for all other renter profiles, with the following exceptions:

  • We changed the credit tier from “good” to “poor” as reported to the insurer to see rates for renters with poor credit. In states where credit isn’t taken into account, we used only rates for “good” credit.

  • For renters with a higher deductible, we raised the deductible from $500 to $1,000.

  • For renters with higher or lower personal property coverage limits, we raised the limit to $50,000 or lowered it to $10,000.

  • For renters with a history of claims, we added a single theft claim to their record.

Our “good” and “poor” credit rates are based on credit score approximations and do not account for proprietary scoring criteria used by insurance providers.

These are sample rates generated through Quadrant Information Services. Your own rates will be different.

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