The average cost of renters insurance broken down by state

renters-insurance-cost

With the right plan, renters insurance typically protects you from nightmares, like fire and theft, as well as frustrating everyday incidents, like cracking your phone screen, losing your engagement ring, or damaging your laptop.

Luckily, it doesn’t need to be expensive; in fact, the average cost of renters insurance is a lot less than you might think. We put together this quick state-by-state breakdown of the average monthly costs of renters insurance to help you better understand how affordable it is.

State
Avg. Monthly Cost
Avg. Annual Cost
Alabama $19.92 $239
Alaska $13.42 $161
Arizona $16.25 $195
Arkansas $17.92 $215
California $17.25 $207
Colorado $14.08 $169
Connecticut $16.33 $196
Washington, D.C. $13.67 $164
Delaware $12.75 $153
Florida $18.08 $217
Georgia $18.83 $226
Hawaii $18.42 $221
Idaho $13.08 $157
Illinois $14.25 $171
Indiana $15.17 $182
Iowa $12.25 $147
Kansas $14.50 $174
Kentucky $14.25 $171
Louisiana $20.17 $242
Maine $12.42 $149
Maryland $13.33 $160
Massachusetts $17.17 $206
Michigan $17.25 $207
Minnesota $12.42 $149
Mississippi $20.33 $244
Missouri $15.17 $182
Montana $12.08 $145
Nebraska $12.50 $150
Nevada $16.08 $193
New Hampshire $12.50 $150
New Jersey $13.83 $166
New Mexico $15.25 $183
New York $17.58 $211
North Carolina $11.17 $134
North Dakota $9.58 $115
Ohio $15.42 $185
Oklahoma $19.50 $234
Oregon $14.00 $168
Pennsylvania $13.00 $156
Rhode Island $15.17 $182
South Carolina $16.33 $196
South Dakota $9.83 $118
Tennessee $17.67 $212
Texas $19.00 $228
Utah $12.08 $145
Vermont $12.83 $154
Virginia $13.17 $158
Washington $14.42 $173
West Virginia $14.67 $176
Wisconsin $10.83 $130
Wyoming $13.00 $156

(Renters insurance average cost data provided by Value Penguin.)

These numbers represent the average amount of money a person in each of these states will spend on renters insurance in one month. As you can see, it’s not all that expensive no matter where you live.

Of course, there are variations from one place to another. The average renters insurance cost in New York is greater than the average cost of renters insurance in Wyoming because there are more potential hazards in New York. The average cost of renters insurance in California is also higher than it may be in some other states due to issues like earthquakes. (Learn more about how insurance is priced.)

That said, in all states, the average renters insurance cost does not reflect its true value. Hopefully, you’ll never have to actually use your plan. But, if you do, you’ll be happy you spent less than $20 each month for coverage that extends to even the most unexpected moments in life.

Whether someone breaks in and steals your new laptop, or a broken pipe in the apartment upstairs makes yours uninhabitable for a period of time, renters insurance can help you handle the problem quickly and affordably.

What does renters insurance not cover? There are a few “perils,” or causes of damage, that are not covered by renters insurance, such as flooding. If you live in a flood-prone area, consider buying an insurance policy specifically for flooding from the National Flood Insurance Program.

How much does Jetty Renters Insurance cost?

In general, Jetty Renters Insurance plans start at $5/month. You can add on extra coverage, such as our Valuables Protection, Bedbugs Coverage, and Portable Electronics Power-Ups, which each start at just a few extra dollars per month.

The price of Jetty Renters Insurance plans depends on several factors: where your home is located, your coverage types, the amount of coverage you have, and your deductible. Here, we break it down:

Where your home is located

Unfortunately, you don’t have much control over this one. Premiums vary in different parts of the country based on things like crime rate, historical claim activity, catastrophic exposure and your location’s fire protection rating (how well prepared your local department is to fight a fire). If you live in a rural area far from a fire department or hydrant, then chances are you’ll have a higher premium than someone with a paid fire department around the corner and a public hydrant across the street.

Coverage types

There are several different types of coverage at Jetty (and in most typical renters insurance plans). Three common ones are:

  • Contents (your things)
  • Liability (when you’re personally responsible for damage to others’ property)
  • Loss of Use (if your home becomes uninhabitable because of a covered incident).

In several cases, you can add even more coverage. With Jetty, for example, you can add the Portable Electronics Power-Up, which would cover the cost to replace your phone screen if you dropped and shattered it. Or, you could add our Bedbugs Coverage Power-Up, which would give you $300 to put toward bedbug cleanup (fingers crossed you never have to use it!). Another option is our Valuables Protection Power-Up, which covers extra expensive valuables, like an engagement ring. When you add these extra types of coverage, your premium and protection typically go up. When you remove them, your premium and protection typically goes down.

The amount of coverage you have

Each of the above types of coverage has a different amount of coverage associated with it. So, for example, you could have $40,000 in Contents coverage, $200,000 in Liability coverage, and $10,000 in Loss of Use coverage.

As those amounts of coverage change, so may your monthly premium. Want a higher amount of coverage? Your premium may go up. Want a lower amount of coverage? Your premium may go down.

Your deductible

A deductible is the amount of money you pay out-of-pocket before Jetty kicks in. For example, if you have a deductible of $500 and your couch was damaged because of a covered incident, you’d be required to put $500 toward your new couch, and then Jetty would cover the rest. The way your deductible affects your monthly premium is simple: As your deductible goes up, your monthly premium goes down—in most cases. This would not be the case if you’re already at the lowest-possible monthly premium based on all of the other factors above.

Why should I use Jetty?

With so many options out there, it can be hard to pick the right renters insurance provider for you. Here’s where Jetty stands apart:

Fast, easy experience through better technology

Making our Member experience fast and easy to use is important to us. We’re always working to design our platform so that you can sign up and get covered in under 60 seconds. We also make it easy to see exactly where you’re covered, so you can decide for yourself where you want to add extra coverage.

Customizable, affordable plans based on what you need

Pay for the coverage you need, and remove the coverage you don’t. We’ve made it easy for you to add and subtract coverage so you’re not paying for what you don’t need. Want extra protection for your portable electronics, like your phone and laptop? No problem—just add our Power-Up. Don’t want it? No need to add it. Plans start at just $5/month.

Smart coverage for modern renters

Back in the day when renters insurance plans were created, people didn’t have laptops or smartphones. Incidents like cracking your phone screen weren’t super common, so the plans at the time didn’t need to cover them. Jetty is changing that—we’re taking modern problems and building plans that aim to solve them. Jetty is one of the only insurance providers that has plan options to cover your cracked phone screen (something AppleCare and other insurance providers do not cover), damaged laptops, and even bedbug invasions.

Ready to Jetty?

Get a quick quote for better, more affordable renters insurance.