What Is A Typical Renters Insurance Cost?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    I am sure you want to know the cost per month of a policy.  These average about $10-15 per month but that is not the important issue.   The cost of not having the policy can be enormous.   If someone enters your rental unit and is injured you could be liable for a lawsuit that would bankrupt you.  If the unit catches on fire and is destroyed, your personal property will not be replaced without a tenants policy and the additional costs you incur while waiting for the unit to be repaired wouldn’t be covered either.  The cost at a time of claim makes the premium seem insignificant.
    Answered on March 19, 2014
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