How much is renters insurance in 2025?

Q: How much is renters insurance for an apartment?

The average cost of renters insurance for an apartment is $24 a month, or $288 a year . Living in an apartment vs. a house doesn't really affect the cost of insurance, since the building itself isn't covered. Apartment insurance is simply renters insurance, and apartment liability insurance coverage doesn't differ, either. However, security elements in an apartment building can make a difference to your rates.

How much is renters insurance?

The average cost of renters insurance is $288 a year, or about $24 a month. That’s the national average for a policy with $40,000 of personal property coverage, a $1,000 deductible and $300,000 of liability protection, according to our most recent rate analysis.

Renters insurance rates increase as you add more coverage, but some coverages cost more than others.

Coverage limits	Annual premium	Monthly premium
$40,000 property/$300,000 of liability	$288	$24
$40,000 property/$100,000 of liability	$270	$23
$60,000 property/$300,000 of liability	$366	$31
$60,000 property/$100,000 of liability	$347	$31

Read our methodology

How much is renters insurance for $100,000 in liability coverage?

The cost of renters insurance at $100,000 in liability ranges from $193 a year to $347 a year, depending on personal property coverage limits.

Here’s how a $100,000 renters insurance policy compares to a $300,000 renters insurance policy. You’ll see that when you increase your tenant liability insurance coverage, the increase in cost is minimal. These renters insurance prices all have a $1,000 deductible:

$20,000 property/$100,000 liability: $193
$40,000 property/$100,000 liability: $270
$60,000 property/$100,000 liability: $347

How much is renters insurance for $300,000 liability coverage?

At $300,000 in liability coverage, renters insurance costs between $209 a year and $366 a year. That's between $16 and $19 more than $100,000 in liability, again depending on your personal property coverage.

Here's a look at rates with a $1,000 deductible:

$20,000 property/$300,000 liability: $209
$40,000 property/$300,000 liability: $288
$60,000 property/$300,000 liability: $366

Renters insurance costs at a glance

How much does renters insurance cost on average? We've put together an overview of renters insurance costs below, from the most and least expensive states to the insurance company with the cheapest renters insurance rates.

Renters insurance costs
Renters insurance rate type	Average renters insurance rate
Annual renters insurance cost - national	$288 a year
Renters insurance cost per month - national	$24 a month
State with the most expensive renters insurance	Louisiana - $579 a year
State with the least expensive renters insurance	Wyoming - $142 a year
Cheapest renters insurance company	State Farm - $196 a year

Read our methodology

Renters insurance cost by company

Renters insurance cost by company
Renters insurance cost by coverage level

Renters insurance cost by company

State Farm is the cheapest renters insurance company at an average of $196 a year; USAA is the second-cheapest, but only offers coverage only to military members, veterans and their families.

At an average of $526 a year, Travelers is the most expensive.

Below, you can compare average annual renters insurance rates from national companies:

Company	Average annual rate	Monthly premium
State Farm	$196	$16
Progressive	$238	$20
Nationwide	$289	$24
Allstate	$289	$24
American Family	$305	$25
Farmers	$363	$30
Travelers	$526	$44
USAA	$209	$17

Read our methodology

Renters insurance cost by coverage level

Your personal property coverage limits and the company you choose have the biggest impact on rates. State Farm's average rate for $20,000 in personal property coverage is $143 a year, while at $60,000 it's $244 a year, making it the cheapest at all coverage levels.

Compare rates by personal property coverage level with a $1,000 deductible and $300,000 in liability coverage below.

Company	$20,000	$40,000	$60,000
Allstate	$203	$289	$377
American Family	$218	$305	$395
Auto-Owners	$166	$233	$301
Erie Insurance	$217	$326	$419
Farmers	$260	$363	$471
Nationwide	$220	$289	$359
Progressive	$190	$238	$289
State Farm	$143	$196	$244
Travelers	$369	$526	$713
USAA	$158	$209	$250

Read our methodology

* USAA is only available to military members and their families.

Renters insurance cost calculator

What you pay for renters insurance will depend on factors like your credit history, where you live, and the amount of coverage you need. The renters insurance calculator below will show you your state's most and least expensive ZIP codes.

To get a personalized renters insurance quote, enter your ZIP code and choose a personal property, deductible, and liability limit.

Renters insurance calculator

Average renters insurance rates in Texas

Most & least expensive ZIP codes for renters insurance in Texas

Most expensive
Least expensive

ZIP code	City	Highest rate
78368	Mathis	$264
77014	Houston	$264
77444	Guy	$263
77374	Thicket	$262

ZIP code	City	Lowest rate
75070	McKinney	$183
78132	New Braunfels	$183
75072	McKinney	$183
75013	Allen	$183

Read our methodology

How much is renters insurance in your state?

The cost of renters insurance by state varies. Compared to the national average of $288 for renters insurance, Louisiana, Rhode Island and Michigan are the most expensive, at between $471 and $579 a year. Wyoming is the cheapest, at $142 a year, followed by New Hampshire at $160 and Vermont at $181.

Below are the average rental insurance costs by state so you know what to expect. Rates are for personal property coverage of $20,000, $40,000, and $60,000, liability limits of $100,000 and $300,000, and a $1,000 deductible.

Map

Table

Average annual premium

$126

$473

State	$20,000/$100,000 liability	$40,000/$100,000 liability	$40,000/$300,000 liability	$60,000/$300,000 liability
Alaska	$181	$233	$257	$308
Alabama	$225	$310	$324	$411
Arkansas	$247	$346	$363	$464
Arizona	$170	$237	$260	$327
California	$205	$253	$271	$322
Colorado	$135	$175	$191	$232
Connecticut	$187	$265	$292	$370
Washington, D.C.	$204	$260	$272	$373
Delaware	$131	$170	$181	$243
Florida	$159	$230	$248	$324
Georgia	$222	$334	$352	$459
Hawaii	$151	$231	$247	$329
Iowa	$132	$188	$203	$257
Idaho	$127	$169	$184	$225
Illinois	$170	$227	$246	$300
Indiana	$176	$249	$269	$344
Kansas	$167	$238	$251	$322
Kentucky	$136	$193	$207	$260
Louisiana	$316	$472	$504	$675
Massachusetts	$159	$244	$262	$358
Maryland	$172	$243	$256	$335
Maine	$125	$174	$190	$243
Michigan	$230	$323	$340	$433
Minnesota	$157	$203	$211	$256
Missouri	$150	$210	$231	$285
Mississippi	$250	$367	$387	$511
Montana	$181	$256	$275	$354
North Carolina	$172	$323	$332	$455
North Dakota	$122	$173	$190	$240
Nebraska	$193	$266	$279	$351
New Hampshire	$118	$160	$173	$215
New Jersey	$134	$190	$207	$267
New Mexico	$146	$191	$201	$244
Nevada	$179	$233	$246	$304
New York	$217	$276	$293	$362
Ohio	$167	$231	$252	$317
Oklahoma	$187	$266	$281	$352
Oregon	$195	$266	$287	$358
Pennsylvania	$171	$249	$274	$362
Rhode Island	$413	$473	$479	$538
South Carolina	$193	$272	$294	$375
South Dakota	$133	$188	$202	$257
Tennessee	$196	$272	$290	$370
Texas	$143	$214	$226	$293
Utah	$139	$183	$200	$241
Virginia	$161	$217	$235	$298
Vermont	$133	$166	$182	$227
Washington	$151	$205	$222	$276
Wisconsin	$111	$153	$167	$211
West Virginia	$165	$231	$248	$309
Wyoming	$105	$126	$136	$162

Read our methodology

*Some state rates will vary based on the addition of a hurricane deductible and may be much higher when included.

Most and least expensive states for renters insurance

Renters insurance is most expensive in Louisiana at $579 a year, followed by Rhode Island at $560.

The cheapest state for renters insurance is Wyoming at $142 a year, followed by New Hampshire at $160.

Take a look at the five least and most expensive states below.

Most expensive states for renters insurance

Most expensive states
Least expensive states

State	Annual cost
Louisiana	$579
Rhode Island	$560
Michigan	$471
North Carolina	$436
Mississippi	$429

Read our methodology

State	Annual cost
Wyoming	$142
New Hampshire	$160
Vermont	$181
Wisconsin	$185
Idaho	$190

Read our methodology

How much is renters insurance by city?

The cost of renters insurance also varies by city. Rates range from $192 a year in Austin, Texas, to $440 a year in New York City. Here is what you can expect to pay in some key cities across the U.S.

City	Annual premium	Monthly premium
Austin, Texas	$192	$16
Charlotte, North Carolina	$360	$30
Chicago, Illinois	$327	$27
Columbus, Ohio	$259	$22
Dallas, Texas	$213	$18
Denver, Colorado	$229	$19
Fort Worth, Texas	$208	$17
Houston, Texas	$269	$22
Indianapolis, Indiana	$293	$24
Jacksonville, Florida	$183	$15
Los Angeles, California	$356	$30
New York, New York	$440	$37
Oklahoma City, Oklahoma	$315	$26
Philadelphia, Pennsylvania	$440	$37
Phoenix, Arizona	$297	$25
San Antonio, Texas	$215	$18
San Diego, California	$249	$21
San Francisco, California	$352	$29
San Jose, California	$349	$29
Seattle, Washington	$269	$22

Read our methodology

How much is renters insurance per month?

Renters insurance starts at an average of $17 a month, depending on the coverage. Here are monthly renters insurance quotes for various coverage levels and deductibles.

Coverage	Avg renters insurance per month
$20,000, $100,000 liability, $500 deductible	$17
$20,000, $300,000 liability, $500 deductible	$19
$20,000, $100,000 liability, $1,000 deductible	$16
$20,000, $300,000 liability, $1,000 deductible	$17
$40,000, $100,000 liability, $500 deductible	$24
$40,000, $300,000 liability, $500 deductible	$26
$40,000, $100,000 liability, $1,000 deductible	$23
$40,000, $300,000 liability, $1,000 deductible	$24
$60,000, $100,000 liability, $500 deductible	$31

Read our methodology

Factors that affect the cost of renters insurance

Renters insurance rates are affected by a few main factors:

Location. Where you live impacts rates due to factors like weather and crime.
Coverage. Personal property coverage has the biggest impact on rates, but personal liability coverage also has some impact on what you pay. Your deductible will also affect your cost.
Claims history. If you have filed previous claims, it will affect your rates, while being claim free earns a discount.
Credit history. In most states, it's legal to use your credit history when calculating rates; poor credit means higher rates.
Company. Renters insurance rates vary by company.

How to lower your renters insurance premium

Save on renters insurance with these tips:

Shop around. Compare as many companies as you can to find the best rate on your renters insurance.
Raise your deductible. You'll pay less in monthly premiums if you have a higher deductible; just be sure you can afford it if you need to file a renters insurance claim.
Bundle your renters and auto insurance policies. You'll save money if you buy your renters insurance policy from the same company as your auto insurance; most insurance providers offer a discount on both policies when you bundle.
Ask about discounts. Insurance companies offer renters insurance discounts for things like security systems.
Improve your credit score. Credit is on of the factors used to calculate rates in most states. Paying bills on time and keeping a good credit history can reduce your rates.
Don't file small claims. Filing multiple small claims drives up rates. File a claim only when it's necessary.

How to get a renters insurance estimate

To get the right coverage at the best price, prepare before you buy with the following steps:

Create an inventory of your personal items. List the items and their purchase price. While big-ticket items are important to note, don’t forget things like linens, dishes, and clothing; the cost to replace them can really add up. This total is what you need for personal property coverage.
Choose replacement cost coverage. Standard policies include actual cash value (depreciated) coverage, but the upgrade to replacement cost is worth it. Replacement cost coverage policies cover the actual cost of replacing your possessions rather than a depreciated value. That means your renters insurance will cover your 10-year-old TV at the cost of buying a comparable brand-new TV today.
Choose a deductible. Deductibles usually range from $500 to $2,500. This is the amount you pay out before your policy kicks in to pay for the repair or replacement of your belongings. The higher your deductible is, the lower your rate will be, but the trade-off is that you have to pay that amount when you file a claim before your policy pays out. For most tenants, a $500 or $1,000 deductible on apartment rental insurance is recommended.
Decide how much liability insurance you want. Liability insurance protects you if you’re liable for injuries or damages and will even provide legal assistance if you’re sued. $100,000 is the common choice for renters insurance, but it costs very little to triple the protection to $300,000.
Compare quotes. Make sure to compare renters insurance quotes from several companies. Use the same coverage levels for every quote so you can compare renters insurance rates on an apples-to-apples basis. Remember to check company ratings—the cheapest isn’t always the best.

Methodology

We partnered with Quadrant Information Services to field condo (HO-6) insurance rates across all 50 states and Washington, D.C.

Averages are based on:

$40,000, $60,000 and $100,000 in personal property coverage
$100,000 and $300,000 in liability coverage
$1,000 deductible
Good credit

Learn more about our data and methodology.

Frequently asked questions

What is the cheapest renters insurance company?

According to our rate data, the cheapest renters insurance company is State Farm at $196 a year for $40,000 in property coverage with $300,000 in liability. The cheapest company for you will depend on where you live and the coverage you need.

How much is renters insurance for an apartment?

The average cost of renters insurance for an apartment is $24 a month, or $288 a year. Living in an apartment vs. a house doesn't really affect the cost of insurance, since the building itself isn't covered. Apartment insurance is simply renters insurance, and apartment liability insurance coverage doesn't differ, either. However, security elements in an apartment building can make a difference to your rates.

Helpful home insurance tools and calculators