National Averages
- $170 / year (~$14/month) is the typical U.S. cost for $30,000 in property coverage with $100K liabilityreddit.com+15bankrate.com+15insure.com+15.
- Other estimates range between $148–$172/year (≈$12–$14/mo).
📍 State-by-State Variation
| State Examples | Avg Monthly | Avg Annual |
|---|---|---|
| Cheapest | ||
| Wisconsin, Iowa, Wyoming, Vermont | $8–$11 | $90–$130 |
| National low average | – | ≈$148–$170 |
| Most expensive | ||
| Louisiana, Mississippi, Arkansas | $21–$22 | $250–$260+ |
| Some Southeastern states | $16–$21 | $200–$260+ |
Sources vary slightly, but coverage aligns with above rangestime.com+9nerdwallet.com+9insure.com+9.
📌 Why Prices Vary
- Location & Risk: Areas prone to hurricanes, floods, theft, or wildfires (e.g., Louisiana, Mississippi) have much higher ratesrocketmortgage.com+15nerdwallet.com+15insurify.com+15.
- Coverage Amounts: More property or liability limits raise the cost (e.g., $60K vs $20K coverage)reddit.com+3insurance.com+3investopedia.com+3.
- Deductible Choice: Opting for a higher deductible lowers the premium.
- Discounts & Bundles: Auto-bundling, security devices, or credit score-based discounts can reduce your rate by 10–25%.
🧾 Example Costs by State
- Wyoming/Alaska:
$5–$8/month ($90–$100/year)apnews.com+7nerdwallet.com+7insurify.com+7. - Louisiana:
$21–$36/month ($250–$504/year) for standard coverages ($20K–$40K personal property, $100K liability)reddit.com+5insure.com+5reddit.com+5. - Texas/Georgia/Oklahoma:
$16–$20/month ($200+/year)reddit.com+5nerdwallet.com+5rocketmortgage.com+5.
🏠 Real-World Renters’ Insights (from Reddit)
Many renters report:
- Bundled with car insurance:
$10–$15/month ($120–$180/year) with State Farm, Geico, Progressiveinvestopedia.com+6reddit.com+6kiplinger.com+6. - Insurer examples: Lemonade ($7–$17/mo), USAA ($5–$16/mo), Allstate/AAA (~$90–$125/year).
“If you have car insurance the multi-line discount makes renters essentially free…” – Reddit userreddit.com
✅ Bottom Line
- Typical cost: $12–$20/month ($150–$250/year), depending on coverage and location.
- Cheapest: ~$5–$11/month in low-risk states.
- Most expensive: $20–$36/month in high-risk areas.
💡 Money-Saving Tips
- Bundle renters with auto or other policies.
- Shop around—compare quotes across providers.
- Raise deductible if comfortable.
- Install safety features like alarms or deadbolts.
- Adjust coverage to accurately match possessions—avoid over/under-insuring.
Leave a Reply