Don't Overpay Secrets to Slashing Renters Insurance Costs
Why Renters Insurance Costs Vary
The cost of renters insurance can vary significantly based on several factors, including location, coverage amount, deductible, and the insurance provider. For instance, living in an area prone to natural disasters or high crime rates can increase premiums. Additionally, the amount of coverage you choose and your deductible—the amount you pay out of pocket before insurance kicks in—can also affect your costs. According to the Insurance Information Institute, the average cost of renters insurance in the United States is about $179 per year, but this can fluctuate depending on your circumstances1.