How much does renters insurance usually run?

Question

I'm 25 and this is a pretty new concept to me. My new landlord (a management company) suggested that everyone get it "For our own Protection." I just need a ball park number. Thanks.

Answer 1

$150 a year.

Answer 2

$120 per year is a good estimate.  I recommend it.

Answer 3

For about 15 thousands dollars of coverage on your contents it's about 20 bucks a month.

Answer 4

It really depends on where you live, how old/condition the building is in and how much $ you want the policy to cover. You can usually get a small discount if you can bundle auto insurance with renters.

I live in the midwest and a $15,000 policy is only costing me $75 a year.

Shop around and find the best deal.

Answer 5

In Duluth, Minnesota, I have 25000 for $9 a month. I almost save more on my auto insurance than I'm paying out.

Answer 6

it depends how much coverage you get and your location. like the first guy said, it will sometimes save you more money on your auto than the policy costs. it normally gives you about 10% off your auto premium. monthly, i would say the majority i quote come out to be about 10 a month. its a good idea to get renters, if you think about how much it would cost to replace everything you own in your home

Answer 7

It does vary by region - even COUNTY...

But on average $20/month

Answer 8

If your apartment building burned down, how much would it cost for you to re-buy all your stuff?  

For me and my hubby, it breaks down like this:

Furniture: $5,000

Clothes and linens: $5,000

Electronics and appliances: $10,000

Misc: $5,000

So, for us, we've got a $25,000 policy and it costs $500 a year....  but we live in Ramona (which was the first town to be evacuated during the San Diego Fire Storm).  

It's a good idea to have renter's insurance.  If something happened to your house (like if the roof got blown off) and you couldn't stay there during repairs, the policy will pay for you to live in a hotel.  When I was 17, our bathroom caught on fire and damaged a lot of the house with smoke (old wall heater exploded).  So, our land lord's insurance covered the repairs, but our insurance covered damaged clothes, computers, etc.  It also paid for us to live in a hotel for three weeks while the house we rented was repainted and repaired.

Answer 9

Usually around $10 to $20 per month, depending upon your location and the amount of coverage. Check with your auto insurance agent. Many companies will give you a discount if you have both auto and renter's insurance with them and the discount on your auto insurance will probably more than pay for the renter's policy.