Compare Renters Insurance Quotes

Renters insurance protects your stuff — like furniture and electronics — at an affordable rate. To find the best renters insurance for you, you should compare quotes from multiple companies.
Currently insured?
No spam. No hassle. No hidden costs.

ValuePenguin can help you find and understand renters insurance. Getting renters insurance is a cheap way to protect your things, but finding coverage can be difficult. Our editors can help you understand what you're getting and how to buy a policy.

Renters insurance costs $18 per month, or $215 per year, on average.

What coverage can you expect at that price?

Personal property coverage


Personal property coverage protects your stuff, from furniture to clothing and electronics. Renters insurance typically protects your things wherever you take them.

Liability coverage


Renters insurance also covers your personal liability, which includes medical costs for injured guests. It will also pay to fix or replace other people's property you accidentally damage.

Loss of use coverage


Loss of use coverage pays your expenses if your apartment ever becomes unlivable. This includes things like hotel or moving expenses and food costs if you don't have access to a kitchen.



Your deductible is the amount you must pay before insurance starts covering your claim. Higher deductibles mean lower monthly rates, while lower ones offer more protection.

Find Cheap Renters Insurance Quotes in Your Area

Currently insured?
No spam. No hassle. No hidden costs.

Find the best renters insurance companies near you

Choose your state to see the best renters insurance companies in your area.

Compare major renters insurance companies

If you prefer to go with a brand you recognize, ValuePenguin reviewed the nation's largest insurance companies on how well they meet renter needs.

Frequently asked questions about renters insurance

You should get enough personal property coverage to replace all of your things if they're destroyed. The best way to figure out how much coverage you need is by creating an inventory of all of your items.

In addition, most policies come with $100,000 of personal liability coverage. You may need more liability coverage if your rental has potential hazards, like a pool or lots of stairs, which could make it more likely that a guest will get hurt.

The average cost of renters insurance is $18 per month nationally. However, rates fluctuate between $7 and $52 per month, depending on where you live and the company you choose.

The average cost of renters insurance for an apartment is about $19 per month. However, quotes vary based on your coverage limits and deductible.

Renters insurance protects your things and pays the medical bills of others who get hurt in your home. The personal liability portion of your renters insurance can help your landlord avoid a lawsuit if someone is injured in your home.

Unless you live with family members, each roommate generally needs their own renters insurance policy.

Renters insurance is different from homeowners insurance because it doesn't cover the structure of your home. Your landlord or property management company should have a policy covering damage to the structure you're not responsible for.

Most renters insurance companies let you get a policy for less than a year if you have a short-term apartment or need to break your lease early. You can also transfer your policy to a different apartment or buy a one-year policy and cancel it before the end of the term.

Typically, you will get a refund for any extra months you paid for up front. Watch out for the few companies that charge an early cancellation penalty.

Renters insurance generally covers items in a storage unit. The amount of coverage is usually up to 10% of your personal property limit. However, there may be some restrictions depending on your insurance company.

Renters insurance liability coverage usually pays for medical bills if your dog bites someone in your home or on a walk. However, many companies won't cover dog bites if your dog has a history of biting.

In addition, some companies won't cover dog bites for specific breeds. Examples of these breeds include German shepherds, rottweilers and pit bull terriers. These dog breeds aren't more likely to bite, but their bites are more likely to cause severe damage.

A few companies, like State Farm, don't consider your dog's breed. ;

Explore articles about renters insurance


To find the average cost of renters insurance, ValuePenguin gathered quotes from the largest insurance companies in each state, based on data availability. Rates are for a 25-year-old single man with no roommates or pets and no history of insurance claims.

Quotes are for the following coverage limits:

  • Personal property: $30,000
  • Personal liability: $100,000
  • Loss of use coverage: $9,000
  • Medical payments: $1,000
  • Deductible: $500