Average Renters Insurance Cost in 2026
| Coverage Level | Avg Annual | Avg Monthly |
|---|---|---|
| $15,000 property / $100K liability | $120–$160 | $10–$13 |
| $30,000 property / $100K liability | $180–$230 | $15–$19 |
| $50,000 property / $100K liability | $230–$290 | $19–$24 |
| $50,000 property / $300K liability | $250–$320 | $21–$27 |
| With replacement cost + add-ons | $300–$420 | $25–$35 |
What Affects Your Renters Insurance Premium
Cost by State (2026 Averages)
| State | Annual Average | Monthly |
|---|---|---|
| North Dakota | $110 | $9 |
| Wisconsin | $120 | $10 |
| National Average | $216 | $18 |
| Texas | $276 | $23 |
| Louisiana | $325 | $27 |
| Mississippi | $338 | $28 |
Frequently Asked Questions
Common reasons: you're in a high-risk state or ZIP code, you have prior claims, your credit score is below average, you're requesting higher coverage limits, or you've selected replacement cost coverage (which does cost more but is worth it).
Bundle with your auto insurance (5–15% savings), install smoke detectors and security devices (5–10% savings), raise your deductible to $1,000 or $2,500 (10–25% savings), and improve your credit score. Shopping and comparing quotes annually is also effective — loyalty discounts rarely match new-customer pricing.
Almost universally yes. At $18/month ($216/year), you're protected against losses that can easily reach $10,000–$50,000 (theft, fire, water damage). The expected value of having the coverage far exceeds the cost. The liability protection alone — which can shield you from lawsuits exceeding $100,000 — makes it worth the premium for most renters.