States with the highest renters insurance premiums (2024)

FAQs

States with the highest renters insurance premiums? ›

The average cost of renters insurance is about $15 to $20 per month¹. However, what you end up paying depends on a number of factors. Take a look at the information below to find out how your home or apartment renters insurance cost is determined.

The average cost of renters insurance is about $15 to $20 per month¹. However, what you end up paying depends on a number of factors. Take a look at the information below to find out how your home or apartment renters insurance cost is determined.

The average cost of renters insurance in California is around $12.21 per month, based on data from Quadrant Information Services. However, the actual amount you pay may differ due to your personal risk factors.

Although Florida renters are not legally obligated to buy insurance, a landlord or management company can make it mandatory. People looking to purchase coverage in Florida pay an average of $13.92 a month, based on data from Quadrant Information Services.

Hawaii ranked as the state with the highest average rent, according to doxo. In a separate 2023 doxo report, Hawaii was also determined to be the most expensive U.S. state based on the average cost of household bills.

The cost of renters insurance depends on a number of factors, such as your policy limits, deductible, location, claims history and more, but it's typically more affordable than homeowners insurance because you're not insuring your home's structure.

You do not legally have to buy renters insurance in Texas, but your landlord can mandate it as part of a lease agreement. People who buy policies in Texas pay an average of $11.83 per month, based on data from Quadrant Information Services, which provides property insurance analytics.

Lemonade is an affordable insurance provider partially because it does not maintain a network of in-person locations like some of its competitors. It also uses largely AI-based underwriting processes, which can lead to savings on operations on staffing costs.

How much is renters insurance in Arizona? ›

Although obtaining renters insurance isn't required by Arizona law, your landlord might mandate it as part of a lease. On average, a policy in Arizona costs $13.17 per month, based on data from Quadrant Information Services.

The average cost of renters insurance in New York is $22.39 per month, which is higher than the national average of $14.27. The monthly costs among our top providers range from $9.21 to $13.86. Note that costs will vary based on factors such as location, coverage levels, available discounts and more.

You can purchase Colorado renters insurance at a highly affordable rate. The average renter's insurance premium in Colorado for 2024 is $132, or about $11 a month. Renters insurance rates are very affordable for most renters, and it is even a dollar less than the national average of $12 per month.

The average cost of renters insurance in Georgia is $21.87 per month which is higher than the national average monthly cost of $14.27.

Renters insurance costs $19.69 per month on average in Michigan. The cheapest provider is Auto-Owners with policies as low as $2.64 per month.

Renters insurance in Massachusetts can cost as little as $17 a month (or $208 per year) for around $35,000¹ in coverage, more than the national average, according to 2021 data (the most recent available) from the National Association of Insurance Commissioners (NAIC).

Oklahoma, Kansas, Nebraska, Florida, and Colorado are the most expensive states for homeowners insurance. Oklahoma has the highest average cost of homeowners insurance in the U.S. at $5,858 per year. Below, you'll see the top five most expensive states for homeowners insurance.

California was the state with the highest share of renter households in the United States in 2022. About 30 percent of the households lived in rental accommodation in that year.