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How Much is renters insurance?
Below are the Answers
How much is renters insurance?
What impacts the price of renters insurance
For 2017, the average cost of an ASI Renters insurance policy from Progressive ranges from $13-$25 per month. Renters insurance is fairly inexpensive. Plus, you can get extra discounts when you bundle it with your auto insurance.
We offer renters insurance through a network of insurers, and this data comes from one of those insurers, ASI. ASI renters insurance is available in most states.Get quoteQuote & save today!Zip CodeSelect a product AutoAuto + HomeAuto + RentersAuto + CondoBoat/PWCBusinessCar ShoppingClassic CarCommercialCondoElectronic DeviceFloodGolf CartHealthHomeownersHomeshareHome FinancingHome RefinancingHome SecurityHome WarrantyID TheftLife-TermLife-PermanentLife-Final ExpenseMexico AutoMobile HomeMotorcycle/ATVPersonal LoansPetRV/TrailerRentersSegwaySnowmobileTravelWedding & Event How do you want it?
What impacts the price of renters insurance
The crime rate in your ZIP code will significantly influence your rate, as insurance companies use it to determine your risk of theft losses.
Type of residence
The kind of structure you’re renting may play a part in how much you pay. Renting a single-family home, duplex, or condo will be costlier than renting an apartment. That’s because theft is more common in homes than apartments.
If you’re renting an apartment, bigger buildings are better from a cost standpoint. A high-rise complex will be cheaper to rent than a building with less than nine rental units.
Credit and insurance score
Some renters insurance companies may use an insurance score in some states. Your insurance score is generally calculated from information on your credit report. Insurers value this information because data suggests a correlation between credit history and insurance risk. The higher your score, the lower the cost of renters insurance.
Since you could be sued if your dog bites someone, certain breeds may raise your renters insurance rate or even disqualify you from getting a policy. Even if you have the friendliest dog in your apartment building, you still may be denied coverage since some carriers don’t provide coverage for animal liability.
Insurers will offer a range of limits for various coverages on a renters policy. You’ll want to make sure your belongings are covered and any assets are properly protected, but increasing your coverage amounts will obviously raise the cost of the policy. Choosing a deductible, which is simply the amount you have to pay if you have a claim, will also impact your rate. For example, if your $1,000 computer is stolen and you have a $500 deductible, you’d pay $500 and your insurer would pay the rest.
The higher your deductible, the more of the repair or claim cost you’ll have to take on. That means your out-of-pocket costs will be higher, but you’ll have a lower overall rate and vice versa.
See more on how and tips to pick the perfect one.
Pro tip: You can bundle multiple policies to earn extra discounts
You can save more if you get both renters and auto insurance from the same company. This is called “bundling insurance,” and Progressive and most other insurers offer a discount for bundling. Plus, at Progressive, you can bundle even more, including renters + motorcycle, renters + boat, and RV + auto. You name it.
See more on bundling insurance.
About our data
The average price for an ASI Renters insurance policy from Progressive for 2017 is for a 12-month policy broken down into monthly payments and represents 41 states plus the District of Columbia. ASI does not offer renters in Arkansas, Hawaii, Idaho, Montana, New Hampshire, Rhode Island, South Dakota, Vermont, and Wyoming, so these states are not included in the average.
Keep checking back, because we’ll be continuously updating this page. When researching average prices, it’s very important to pay attention to the source of the data and the year. Rates are always changing, and any data that’s several years old may not be relevant. Also, rates for other insurers within our network may be different.
While this data provides insight as to the average cost of renters insurance in most states, it isn’t customized to your situation. If you need an exact price, just get a renters insurance quote online or call 866-731-8075.
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Please note: The above is meant as general information to help you understand the different aspects of insurance. This information is not an insurance policy, does not refer to any specific insurance policy, and does not modify any provisions, limitations, or exclusions expressly stated in any insurages and other features on this page are necessarily brief; in order to fully understand the coverages and other features of a specific insurance policy, we encourage you to read the applicable policy and/or speak to an insurance representative. Coverages and other features vary between insurers, vary by state, and are not available in all states. Whether an accident or other loss is covered is subject to the terms and conditions of the actual insurance policy or policies involved in the claim. References to average or typical premiums, amounts of losses, deductibles, costs of coverages/repair, etc., are illustrative and may not apply to your situation. We are not responsible for the content of any third-party sites linked from this
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