How Much Is Renters Insurance Per Month? (2026 by State)
Renters insurance costs between $13 and $23 per month on average in the United States as of 2026, depending on whose data you use and how much coverage you buy. NerdWallet's rate analysis puts the average at $151 per year (about $13 per month), MoneyGeek at $15 per month, and ValuePenguin at $23 per month. If you just need a planning number for a standard apartment policy, start at $15 a month and adjust from there.
To make those numbers concrete, meet Maya: a 27-year-old signing her first apartment lease in Houston. Her landlord requires proof of coverage before move-in, and she wants to know whether a fair price is $10 a month or $30.
Renters Insurance Cost Per Month: The Quick Answer
Here is the verdict by situation. A basic apartment renter with ordinary furniture, a laptop, and clothes should expect roughly $12–$16 per month. A renter with expensive gear (camera equipment, jewelry, a gaming rig) should plan on $20 or more once riders are added. Roommates usually each need their own policy at the same $12–$16 each, and renters in hurricane- or hail-exposed states like Florida, Texas, and Louisiana should budget from about $20 up to the mid-$30s.
Why do published "averages" disagree by $10? The assumptions differ. NerdWallet's $13 figure is based on a 30-year-old tenant carrying $30,000 of personal property coverage, $100,000 of liability, and a $500 deductible; ValuePenguin's $23 average reflects different profiles. When you compare average costs, check the coverage assumptions behind them — a "$13 average" that includes $30,000 of coverage is a better deal than a "$12 average" built on $15,000.
For Maya, the realistic starting point is higher than the national figure: Houston is the most expensive of the 25 largest U.S. cities for renters insurance at $241 per year, or roughly $20 per month.
Average Cost by State: Texas, Florida, California and Wisconsin
The table below reworks NerdWallet's 2026 annual rates into monthly figures and shows how far each state sits from the $151 national average.
| State | Average per year | Approx. per month | vs. national average |
|---|---|---|---|
| Louisiana (highest) | $266 | $22 | +76% |
| Mississippi | $223 | $19 | +48% |
| Georgia | $213 | $18 | +41% |
| Alabama | $203 | $17 | +34% |
| Montana | $189 | $16 | +25% |
| U.S. average | $151 | $13 | — |
| Alaska (lowest) | $101 | $8 | −33% |
So where do the states people search for actually land? Texas has no single "true" number in these datasets, but Houston's $241-per-year city average tells you Gulf Coast wind and North Texas hail push quotes well above the national norm. Florida tends to sit above average for the same reason — natural-disaster exposure is one of the location factors insurers price in — with one crucial catch: standard renters policies do not cover flood damage, so coastal renters need a separate flood policy through the National Flood Insurance Program. If you rent in a hurricane- or hail-exposed state like Florida or Texas, budget $20 or more per month; lower-risk states can land at or below the $13 national average.
Wisconsin and California are a different story: neither appears on the most-expensive lists in these datasets. California insurers also cannot use credit-based insurance scores in pricing (a rule the state shares with Maryland and Massachusetts), though earthquake coverage there is a separate purchase. For a current state-level figure, check the rate tables on NerdWallet's or ValuePenguin's pages rather than relying on a national headline number.
One caveat before you trust any state average: cities swing widely. Across the 100 most populated U.S. cities, ValuePenguin's average is $24 per month, only $1 above its national figure — yet in NerdWallet's ranking of the 25 largest cities, Houston ($241/year) costs nearly twice as much as Seattle ($130/year, about $11 per month). Always quote your actual ZIP code.
What Actually Sets Your Monthly Price (3 Levers You Control)
Three inputs move your premium far more than which brand you pick first.
- Coverage amount: more coverage is cheaper than people assume. In Dallas, $15,000 of personal property coverage runs $15 per month versus $19 for $25,000 — just $4 more for an extra $10,000 of protection.
- Deductible: the typical choice is $500 or $1,000. Moving from $500 to $1,000 usually lowers the premium, but the size of the cut varies by insurer — ask to see both prices side by side.
- Bundling: pairing renters with your auto policy typically earns a multi-policy discount, and raising liability from $100,000 to $300,000 adds only about 7% — cheap for triple the protection.
Here is Maya's math, step by step. Because she rents in Houston, her base is the city's average rather than the national figure — and every discount below is a stated assumption, kept conservative on purpose:
- Base quote: $20.00/month (Houston's $241-per-year city average, rounded) for $30,000 property, $100,000 liability, $500 deductible.
- Raise the deductible to $1,000, assuming a 12% cut: −$2.40 → $17.60.
- Bundle with her auto insurer at an assumed 10% discount: −$1.76 → $15.84.
- Protective-device discount (smoke detectors, deadbolt) at a conservative 5%: −$0.79 → $15.05 per month, about 25% below the starting quote.
Those discount percentages are assumptions, not guarantees — but discounts of this kind are widely offered by major insurers, and none appears unless you ask.
Request two versions of every quote in the same session — one with a $500 deductible, one with $1,000. The premium gap tells you exactly how much the higher deductible "pays" you per year, so you can judge whether the trade is worth the extra out-of-pocket risk.
How to Choose a Policy Without Overpaying
Follow this order and you will land within a few dollars of your best available price:
- Walk through your apartment filming a video inventory — totals climb faster than people expect.
- Choose replacement cost coverage, not actual cash value. It typically costs only a few dollars more per month but pays today's price for a new laptop instead of the depreciated value of your five-year-old one.
- Set liability at $100,000 minimum; consider $300,000 for the ~7% bump.
- Collect at least three quotes. Shopping around matters more than any single discount: for comparable coverage, average company rates run from $14 per month at State Farm to $41 at American Family — with Lemonade at $16, Amica $20, Allstate $23, Progressive $24, and Farmers $30 in between.
Know what a standard HO-4 renters policy handles before adding extras:
- Covered: theft, fire, vandalism, personal liability, and loss of use (hotel and meal costs if your unit becomes unlivable).
- Needs a rider or separate policy: jewelry and collectibles above small sub-limits, flood (excluded from standard renters policies), earthquake, and a roommate's belongings unless they are named on the policy.
Common Mistakes That Cost Renters Money
Maya nearly made the most common error of all: assuming she didn't need coverage because the building was insured. Your landlord's policy covers the building — never your belongings, your liability, or your hotel bill after a fire.
- Buying only the bare liability minimum a lease requires and leaving property coverage thin.
- Skipping coverage because "I don't own much" — liability and loss-of-use protection are the real value even for minimalists.
- Auto-renewing for years without requoting; loyalty pricing creeps upward, so re-shop every 1–2 years.
- Ignoring credit: renters with poor credit pay about 71% more on average ($257 vs. $151 per year) in states where credit-based insurance scores are allowed.
Filing a claim barely above your deductible rarely pays off. A recent theft claim raises average premiums about 18% ($178 vs. $151 per year), and claims can stay on your insurance record for five to seven years — even if you switch insurers. A $700 claim against a $500 deductible nets $200 today and can cost more than that in higher premiums.
Maya's ending: she took the $1,000 deductible, bundled with her auto policy, and brought her quote to roughly $15 a month — about $180 a year for $30,000 of property coverage and $100,000 of liability in the most expensive of the 25 largest U.S. cities for renters insurance. As of 2026 these figures will shift with each insurer's annual filings, so treat them as benchmarks, not quotes.
Good to Know
Is renters insurance required by law?
No U.S. state requires it by law, but landlords can (and increasingly do) require proof of coverage in the lease. If yours does, the lease usually specifies a minimum liability amount, commonly $100,000.
Does my credit score change what I pay?
In most states, yes — insurers use a credit-based insurance score (not your FICO score), and renters with poor credit pay about 71% more on average ($257 vs. $151 per year). California, Maryland, and Massachusetts prohibit credit-based pricing for renters insurance.
Will filing a claim raise my monthly price?
Usually. A recent theft claim raises average premiums about 18%, and claims can stay on your insurance record for five to seven years, even if you switch companies. Skip claims that are only slightly above your deductible.
Can roommates share one renters insurance policy?
Some insurers allow it if both names are on the policy, but it's often a bad idea: shared claims history follows both of you, and coverage limits are split across everyone's belongings. Separate policies at roughly $12–$16 each are the cleaner choice.
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