What Is The Average Cost Of Renters Insurance?

  1. 22 POINTS
    Dan Beukelman
    CSR, American Family Insurance,
    Most people can buy a basic Renter's Insurance policy for about $12.00 / month.  The rates are affected by where you live, how much personal property you own, and your credit (good credit and you will pay less, bad credit and you will pay more).  I have seen policies for as little as $55.00 / year, but it's worth asking about options and endorsements that will broaden your coverage, like Identity Theft coverage.
    Answered on March 7, 2014
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  2. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Perhaps a better question would be, “how much does it cost to not have renter’s insurance?”  It could cost you everything that you own.  It could cost you hundreds of thousands of dollars in a lawsuit.  It could make you find another place to live without any possessions and without notice if your apartment is damaged by fire.  The cost for not having a policy could be quite high.  The cost for having one that provides coverage for these possibilities is reasonable.
    Answered on March 7, 2014
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