How Much is Renters Insurance?

You’re here because you’re wondering: How much is renters insurance? We will cut to the chase; Renters insurance is very affordable. In fact, you can protect all your belongings for as little as $15 per month.

How much protection can you actually get for $15 per month? Well, a lot actually. While not every policy will be quite that cheap, you can expect your renters insurance to cover all your possessions, living expenses after a claim, and your liability. Plus, your personal property and liability coverage follows you no matter where you go. Traveling to Japan? Covered! Iceland? Yep! Transylvania? Well, um, yes. But may we also recommend Spooksafe Insurance for this trip?

Another helpful piece of advice: Your landlord’s insurance policy most likely does not cover your items. That being said, let’s take a look at the benefits of having renters insurance. If you don’t want to read the long version, take a look at our short visual version (Too Long; Didn’t Read):

The Benefits of Renters Insurance

Again, how much is renters insurance, you ask? As little as $15 a month will provide you with a renters policy full of great benefits. And if you already have an auto policy, you may be eligible for a discount that could even offset the price of the renters policy. So, here is what you can get for the same price as three cups of your favorite premium fall coffee.

Protection for Your Belongings

When you’re renting, it’s often your belongings that make your place feel like home. However, if a fire were to destroy even just one room of your rental, would you be able to afford to replace all of it? Your bedroom alone probably includes dressers, your wardrobe, your mattress and bedframe, and a TV (maybe even more if you’re in a small space). That is a lot to replace on your own dime.

It’s easy to underestimate the value of our belongings. Creating an itemized list will help you understand just how much your items are worth. An itemized list will also help you figure out the amount of insurance you may need.

Pro-tip: Adding replacement cost to your renters insurance policy will ensure that you get the full value for your items in the event of a loss. Be sure to check with your agent about adding this to your policy.

Living Expenses

Did you ever wonder what would happen and where you would go if you were ever displaced from your rental?

The days after a loss can be extremely tough. With renters insurance, your coverage will kick in to help you pay the cost of things like lodging and food. That’s one less thing to worry about while you focus on getting back on your feet.

Liability Protection

Picture this: Your family is at your place for dinner and you have music playing to set a good atmosphere. You only have two steps in your entire apartment and your dad decides that’s the best place to bust a move. Unfortunately, he misses the steps and not only are his moves actually busted, but so is his leg. A trip to the ER and an itchy cast later, you’re thankful you got that renters policy to help cover injury costs.

When you have visitors, your renters policy will help cover injuries to others sustained at your place. Plus, your policy will also cover damage to your visitors’ property as well. So you can rest easy and enjoy your family get-togethers.

So, How Much Does Renters Insurance REALLY Cost?

As we mentioned before, renters insurance usually comes in relatively low at around $15 per month. But the value is extraordinary. Not only are your possessions protected, but a policy comes with liability protection and will help cover living expenses if you ever experience a covered loss.

$15? Not bad for extra peace of mind, huh?

Protect What You Love

Still have questions? We understand. Insurance can be complicated, but that’s why we’re here. Reach out to our knowledgeable agents to discuss your options for renters insurance. Protect your belongings so your space always feels like home.