How Much Extra Is Renters Insurance?

  1. 910 POINTS
    Ken Boncela
    Ageny Owner, Farmers Insurance, Ken Boncela Insurance & Financial Services, Oswego, lllinois
    Renters insurance is not an "extra" applied to another existing insurance policy.  It is a stand-alone insurance contract and can very widely on cost depending on your needs and wants.  If your desire is to meet the possible requirements of a lease without regard for the coverage you can probably figure on an average minimum premium of around $100.  If however you have a lot of personal belongings, own a dog, have a lot of present and future assets to protect and you would prefer to have an insurance company pay for your loss following a claim rather than paying out of pocket, then you can plan to pay a considerably higher premium.  Renters insurance premium is largely based on exactly what you want, and an insurance professional can help you out.
    Answered on May 27, 2013
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