How Much Does Apartment & Home Rental Insurance Cost?
Renters insurance doesn’t cost as much as you think. There are a number of factors — like location, the estimate of your possessions and added coverage — taken into account when determining your cost, so the price for renters insurance will be different for everyone. But for the most part a typical premium for renters insurance is usually less than the price of one dinner out with friends a month.
How much should you pay for renters insurance for your home or apartment?
Renters insurance is designed to help protect you financially from unexpected instances, so the cost of your renters insurance shouldn’t break the bank. On average, many people pay between $10-$20 a month for renters insurance. You may pay more if you add on coverages or increase your personal property or liability limits, but renters insurance is meant to be an affordable way to help you protect the things you work hard for.
Is it worth getting renters insurance?
We think so.
Consider all of your personal property, like clothing, electronics and furniture — your things add up quicker than you think! If the unexpected were to occur and you had to replace all of your belongings, would you have enough to cover the cost? Renters insurance is a smart, affordable way to help protect your pockets from potentially expensive unexpected events.