Did You Know The Average Cost of Renters Insurance?

Are you renting a house and want to protect your possessions in the event of a fire or other calamities? You might want to consult a Texas insurance agency to get one of the top renters insurance policies. You might wonder what the renters’ insurance cost is. Fret not; we will tell you all about it in this detailed article.

You’ll know the average renters’ insurance cost, plus you’ll know what factors contribute to the renters’ insurance cost. Knowing these will help you choose the right policy for you.

What is the Average Renters Insurance Cost?

Renters insurance is necessary to ensure you are protected. In case your landlord’s coverage is insufficient, and there’s an incident where you are held responsible, renters’ insurance will come to your rescue.

Renters insurance will help protect the new items you bring in and your personal liability. It will merely protect you and your property should a calamity befall you.

Before diving into the policies, you might be curious to know the average renters’ insurance cost, isn’t it?

The average renters’ insurance cost is $14.90 per month and $179 per month in the USA. This is data based on the report by Insurance Information Institute. On average, the premium for renters in Texas is $225 per year. With at least 45.1% of houses on rent, renters’ insurance is all the more essential.

So, understand the average renters’ insurance cost and its contributing factors and get coverage soon from the best Texas insurance agency.

Factors That Contribute to The Renters Insurance Cost

There are several factors that contribute to renters’ insurance cost. You might be curious to know them. So, read on.

The State You Live

Each state in the USA has different insurance rates for renters. For example, Southeast states like Texas, Mississippi, Louisiana, Alabama are the most expensive states for renters insurance. In comparison, Wisconsin and South Dakota have cheaper renters’ insurance.

This happens because the southeast states are prone to flooding, hurricanes, and they are low-lying areas. So, it’s more risk for insurance agencies. In contrast, states like South Dakota and Wisconsin are low-risk and have calm weather.

Your Coverage Amount

Your coverage amount plays a huge role in determining your renters’ insurance cost. The average coverage amounts for renters insurance policies start from $20,000 or $30,000. The more your coverage more your renters’ insurance cost.

For example, you might pay $18 per month for $25,000 coverage. However, you might shell out $32 per month for a $55,000 coverage.

You might think this coverage amount is high. However, they cover lawsuits, property damages, damage to your possessions, and more.

Alarm Systems At Home

Texas insurance agency and other agencies consider if you have alarm systems at home when giving you a renters insurance policy.

Often, suppose you have security alarm systems that warn you about burglars or if you have proper fire alarms and smoke detectors. Your insurance company might give you discounts on your renters’ insurance cost. This is because the alarms will reduce damage to your property and risk to the insurance company.

If You Own A Dog

Suppose you own a dog; you might need more coverage on your renters’ insurance. This will automatically increase your renters’ insurance cost, as mentioned above. Suppose your dog causes damage to your property or bites someone; you might need insurance to help you cover the expenses.


The state where you rent, the coverage amount, the alarm systems in your house, the dog you own, and more contribute to the cost of renters insurance. As mentioned above, it might help you know that the average renters’ insurance cost is $14.90 per month.

However, if you are doubtful, you can always consult a Texas insurance agency like AgWorkers Insurance. They will offer you the top renters’ insurance at reasonable renters insurance cost. Plus, they are professional, licensed, and have the best customer service to ensure you get the policy you deserve. Your hard work will be protected by AgWorkers.

So, go get a quote and get the best renters’ insurance at reasonable rates with the highest coverage.

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Written by agworkers

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