Insurance
How Much Is Renters Insurance?
Published September 24, 2026 · Last updated September 30, 2026
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The short answer
Renters insurance averaged about $171 a year. That's around $14 a month. It covers your things, helps if someone gets hurt at your place, and pays for a place to stay if yours becomes unlivable after a covered loss.
Your landlord's insurance covers the building, not your stuff. That's what renters insurance is for.
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What affects your renters insurance price
Price range
The national average was about $171 a year in 2022. That's the latest full-year number from the NAIC, the group of state insurance regulators.
Not a quote or an offer. Your price comes from the insurance company. Source: NAIC, via the Insurance Information Institute.
What moves the number
- How much stuff you cover. Add up what it would cost to replace your things. Most people are surprised by the total.
- Where you live. Areas with more theft or storms cost more.
- Your deductible. A higher deductible lowers your price. Moving from a low deductible to $1,000 may cut your price by as much as 25%.
- Replacement cost or used value. Replacement cost costs about 10% more, but it pays for new things.
- Liability limit. Most policies start at about $100,000.
What does renters insurance cover?
Your things. Damage from fire, smoke, lightning, theft, vandalism, windstorm, some water damage, and more. Your things are often covered away from home too, like a laptop stolen from your car, usually up to about 10% of your coverage.
Liability. Pays if someone gets hurt in your home or you damage someone else's property, and it pays for your legal defense. It even covers some damage your pet causes.
Living costs. If your place can't be lived in after a covered loss, it helps pay for a hotel, meals, and other extra costs.
What does $100,000 of renters insurance mean?
When a quote says "$100,000," it usually means liability coverage. That's the part that pays if someone gets hurt at your place or you damage their property. It's not how much your stuff is covered for. That's a separate number called personal property coverage. Many experts suggest at least $300,000 of liability.
What renters insurance doesn't cover
- Floods and earthquakes. You need separate coverage. See flood insurance.
- Your car. That needs car insurance. Things stolen from your car may be covered by renters insurance, though.
- Your roommate's things, unless they're named on your policy.
- Pricey items over set limits. Jewelry, bikes, and cameras often have low limits. You can add more.
- The building. That's your landlord's job.
Renters insurance in Texas, Florida and California
Here's what renters paid on average in 2022, with what's different in each state:
| State | Average per year | About per month |
|---|---|---|
| Texas | $199 | $17 |
| Florida | $181 | $15 |
| California | $169 | $14 |
| U.S. average | $171 | $14 |
Not a quote or an offer. Your price comes from the insurance company. Source: NAIC (2022 data), via the Insurance Information Institute.
Renters insurance in Texas. Texas renters pay more than the U.S. average. Hail, wind, and flooding are big risks, especially around Houston and the coast. Renters insurance doesn't cover flooding. Renters can buy flood coverage for their belongings through the National Flood Insurance Program (NFIP), up to $100,000. A new flood policy usually has a 30-day wait before it starts, so don't wait for a storm.
Renters insurance in Florida. Hurricanes are the big risk. Your policy may have a separate hurricane deductible, so ask what it is in dollars. Flooding and storm surge aren't covered by renters insurance. NFIP flood coverage for your belongings is worth pricing out, even outside high-risk zones. See flood insurance.
Renters insurance in California. Earthquakes aren't covered by renters insurance. The California Earthquake Authority (CEA) sells earthquake policies for renters. They cover your belongings, starting at $5,000 of coverage and going up to $25,000, plus extra living costs if you have to move out after a quake. A CEA policy requires you to keep a regular renters policy too.
Is renters insurance required?
No state law requires renters insurance. But many landlords require it in the lease. If yours does, check the minimum liability amount they ask for and whether they want to be listed on the policy.
Even when it's not required, it's usually worth it for the price. One fire or break-in can cost far more than a year of coverage.
How much renters insurance do you need?
Walk through your place and list what you own and what it would cost to replace. Don't forget clothes, kitchen stuff, and electronics. That total is your personal property amount. Then pick a liability limit. Many people choose $300,000.
Want the steps? Read how to get renters insurance, step by step or renters insurance basics.
What to ask before you choose
- "Will you pay to replace my things, or pay what they're worth used?" Actual cash value pays what your 5-year-old laptop is worth. That's not much.
- "Are my roommate's things covered?" Usually not.
- "Are expensive items covered?" Ask about limits for jewelry, bikes, and cameras.
- "What's not covered?"
- "Can I bundle with car insurance?" It often saves money.
Keep reading
Bundle with car insurance. Buying a place? See homeowners insurance or condo insurance. Moving soon? Compare local movers.
More home insurance guides: Homeowners insurance cost · Condo insurance · Landlord insurance · Mobile home insurance · Flood insurance · Umbrella insurance · How much homeowners insurance you need · Renters insurance basics · How to get renters insurance · All insurance
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Homeowners Insurance
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Condo Insurance
Explore condo coverage options alongside your association policy.
Landlord Insurance
Explore coverage options for a property you rent out.
Flood Insurance
Explore flood coverage, which standard home policies usually exclude.
Guides
How to Get Renters Insurance, Step by Step
Renters insurance costs about $14 a month, and you can often buy it online in minutes. Here's how to pick coverage, compare quotes, and send proof to your landlord.
Read the guideRenters Insurance Basics: What It Covers and Why You Need It
Renters insurance covers your things, your liability, and a place to stay after a covered loss. See real examples of what's covered, what isn't, and how much you need.
Read the guide