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How much is renters insurance in NYC?
My dad recommended that I look into renters insurance. But I already pay a huge amount for rent in New York City and I’m hesitant to add another expense. How much is renters insurance in NYC?
Bonnie Stinson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Your dad is right—
renters insurance
can help protect you and your belongings in the event of a fire or theft. You’ll be pleased to know that renters insurance in NYC is surprisingly affordable. The average cost of renters insurance in NYC is $174 a year, or $14 per month. You probably spend that amount of money on a
good meal
out, right?The exact cost of a policy will depend on several factors unique to the policyholder, including the
value of your personal possessions
:- Zip code: If you live in an area with a higher property crime rate, you’ll pay slightly higher prices to insure your stuff.
- Claims history: If you have filed a renters insurance claim in the past, the company will assume you’re likely to do so again in the future.
- Coverage and deductible: A three-bedroom flat in Manhattan full of valuable art needs more insurance coverage than a studio in Washington Heights full of dirty laundry. A higher deductible could get you a lower premium—but it means you’re on the hook for higher out-of-pocket costs in the event of an accident.
Finding a good renters insurance rate in NYC is easy with
Jerry
. Get the app and browse quotes from top companies, unlock discounts, and sign up for a new policy—all from your smartphone. View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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