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How much does $500,000 of renters insurance cost?
My new landlord is asking me to get renters insurance when I move in. She’s requiring $500,000 worth of coverage, but how much does $500,000 of renters insurance cost?
Claire Beaney · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
It’s great you’re doing your research! $500,000 of renters insurance costs approximately $21 per month or $259 per year on average.
This amount of
renters insurance
coverage will cover most costs for personal loss or damages, which is important for any landlord—they don’t want to be sued by their tenant for any damages they aren’t liable for!And beyond your landlord requiring it, having renters insurance is definitely a smart choice for any tenant. You won’t have to worry about entirely covering expenses related to damaged property, loss of use, or medical expenses for any injuries that happen in your home.
Jerry is the easiest and most effective way to find a renters insurance policy that is customized for you without all the usual hassles of comparison shopping. You can even bundle your policy with your
car insurance
for the most savings. View full answer
- Gregory R.
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