Renters insurance averaged about $171 a year in the U.S., roughly $14 a month, according to 2022 data from the National Association of Insurance Commissioners (NAIC) reported by the Insurance Information Institute. Your own price could be lower or higher depending on where you live and the coverage you choose.
Average renters insurance cost by state
Prices vary a lot by state. Based on the same NAIC 2022 data:
| State | Average yearly premium |
|---|---|
| Most expensive | |
| Mississippi | $262 |
| Louisiana | $243 |
| Oklahoma | $216 |
| Least expensive | |
| North Dakota | $123 |
| South Dakota | $129 |
| Minnesota | $135 |
| U.S. average | $171 |
Insurance prices change every year, so treat these as a guide and get current quotes for your address.
Average renters insurance cost in every state
State guides: California · Florida · Illinois · New York · Texas
Average yearly and approximate monthly premiums by state, from NAIC 2022 data:
| State | Per year | About per month |
|---|---|---|
| Alabama | $219 | $18 |
| Alaska | $186 | $16 |
| Arizona | $163 | $14 |
| Arkansas | $205 | $17 |
| California | $169 | $14 |
| Colorado | $158 | $13 |
| Connecticut | $175 | $15 |
| Delaware | $147 | $12 |
| District of Columbia | $153 | $13 |
| Florida | $181 | $15 |
| Georgia | $205 | $17 |
| Hawaii | $174 | $15 |
| Idaho | $147 | $12 |
| Illinois | $151 | $13 |
| Indiana | $168 | $14 |
| Iowa | $144 | $12 |
| Kansas | $159 | $13 |
| Kentucky | $159 | $13 |
| Louisiana | $243 | $20 |
| Maine | $145 | $12 |
| Maryland | $155 | $13 |
| Massachusetts | $173 | $14 |
| Michigan | $180 | $15 |
| Minnesota | $135 | $11 |
| Mississippi | $262 | $22 |
| Missouri | $173 | $14 |
| Montana | $156 | $13 |
| Nebraska | $144 | $12 |
| Nevada | $174 | $15 |
| New Hampshire | $150 | $13 |
| New Jersey | $151 | $13 |
| New Mexico | $177 | $15 |
| New York | $169 | $14 |
| North Carolina | $170 | $14 |
| North Dakota | $123 | $10 |
| Ohio | $160 | $13 |
| Oklahoma | $216 | $18 |
| Oregon | $155 | $13 |
| Pennsylvania | $151 | $13 |
| Rhode Island | $181 | $15 |
| South Carolina | $186 | $16 |
| South Dakota | $129 | $11 |
| Tennessee | $187 | $16 |
| Texas | $199 | $17 |
| Utah | $145 | $12 |
| Vermont | $154 | $13 |
| Virginia | $152 | $13 |
| Washington | $162 | $14 |
| West Virginia | $173 | $14 |
| Wisconsin | $141 | $12 |
| Wyoming | $142 | $12 |
| United States | $171 | $14 |
What affects the price of renters insurance?
- Where you live. Local weather risk (hurricanes, hail, wildfire), crime rates and building type all matter.
- How much coverage you buy. A $50,000 personal property limit costs more than $15,000.
- Your deductible. Raising it from $500 to $1,000 usually lowers your premium.
- Replacement cost vs. actual cash value. Replacement cost coverage costs a bit more but pays far more after a loss.
- Liability limit. Going from $100,000 to $300,000 in liability is often surprisingly cheap.
- Claims history, and in many states, credit-based insurance scores.
- Pets. Some dog breeds can affect liability pricing or eligibility.
- Add-ons like jewelry floaters or earthquake coverage.
How to pay less for renters insurance
- Bundle with auto insurance. Many insurers discount both policies when you buy them together.
- Pick a higher deductible you could comfortably pay in an emergency.
- Ask about safety discounts for smoke detectors, deadbolts, sprinklers or monitored alarms.
- Pay annually instead of monthly if your insurer charges installment fees.
- Buy the right amount, not the maximum. Here’s how to size your coverage.
- Compare at least three quotes; prices for the same coverage can vary widely between companies.
Is renters insurance worth the cost?
Full breakdown: Is renters insurance worth it?
Compare the yearly premium to what it would cost to replace everything you own, plus a few weeks in a hotel after a fire, plus a lawsuit if a guest is seriously hurt. For many renters, a policy costs less per month than a streaming subscription and protects tens of thousands of dollars of belongings. The cheapest policy isn’t always the best value, though: check the coverage limits and whether it pays replacement cost.
Source for average premiums: NAIC data via the Insurance Information Institute.
New to this? Start with What is renters insurance?
This site offers general information, not insurance or legal advice. Coverage, prices and rules vary by insurer, policy and state, so always read your own policy and ask your insurer or agent about your situation.