Find the Secret to Perfect Renters Insurance Amount Today
Factors Influencing Renters Insurance Costs
The cost of renters insurance varies based on several factors, including location, coverage amount, and the deductible you choose. On average, renters insurance costs about $15 to $20 per month2. Opting for a higher deductible can lower your monthly premium, but it means paying more out-of-pocket if you need to file a claim. Additionally, living in a high-crime area or a region prone to natural disasters may increase your rates.
Additional Coverage Options
Standard renters insurance policies cover personal property, liability, and additional living expenses. However, you may need extra coverage for high-value items like jewelry or art. Riders or endorsements can be added to your policy for such valuables, ensuring they're adequately protected. Moreover, some insurers offer discounts for bundling policies, such as combining renters insurance with auto insurance3.