How Much Does Renters Insurance Cost on Average?

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Did you know 37 percent of people in the U.S. buy renters insurance? However, for how much it costs, there should be a lot more people that want to protect and take inventory in case something happens to their apartment or home. Read about Renters Insurance Cost on Average below.

You buy renters insurance to protect your personal property in case there’s a natural disaster, robbery, or an accident and something happens to your things. Keep reading and we will guide you through the question “How much does renter’s insurance cost?”

How Much Does Renter’s Insurance Cost?

The average renter’s insurance policy is $179 per year or $14.90 per month. However, the price varies by state and how much coverage you’re looking for.

When you’re looking at policies, you should compare multiple in your area so that you can find the best deal for you. There are a lot of renter’s insurance companies out there, and you will be able to find what you’re looking for.

Renter’s insurance protects you for everything that your landlord’s coverage doesn’t. It protects all of your personal property that you bring with you when you move into an apartment or house.

The insurance can cover on average about $30,000 worth of property. It also protects you if something happens that you are held accountable for.

Renter’s insurance and taking inventory of your personal belongings is important because if something were to happen unexpectedly, you are able to get money back from insurance to replace everything.

Buying Renter’s Insurance

There are cheap renter’s insurance companies and ones that may cost more money, but it’s more dependent on the state or region you’re in when it comes to price.

Apollo Insurance will start by asking you to fill out an application that includes where you’re moving (an apartment, condo, house), fill out some personal information, and approximate the worth of your belongings.

They are here to protect your valuables. It’s important to thoughtfully fill out the application so you’re taking into account all of your personal belongings.

It’s very quick and easy to get renter’s insurance, and it’s worth protecting your property and yourself. The affordable premiums should be reason alone to invest in renter’s insurance.

Renter’s insurance can be more expensive in areas that are prone to natural disasters, such as fires or flooding. For example, in Florida where hurricanes are more likely to happen, renter’s insurance may be more expensive.

Another example is in California where wildfires are likely to happen, those areas may also be a little steeper in price. It’s very dependent on the area you are moving to.

Get Renter’s Insurance Today

If you don’t already have renter’s insurance, today is the day to get it. Now that you know the answer to “how much does renter’s insurance cost” and that there are likely low premiums, there’s no reason not to invest in protecting your things or yourself.

Your landlord’s insurance doesn’t cover you, and even if it’s an additional cost, it’s worth the money because you never know what kind of accident, theft, or natural disaster can occur.

Take action and protect yourself or keep reading about the latest in history and culture here!

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By Malik Kashi

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