Get Renters Insurance Quotes and Compare

Tenants who lease or rent their homes rely on renters insurance to avoid the risk of costly out-of-pocket expenses due to unexpected accidents, such as fire, theft, and injuries. The average premium for renters insurance in the United States is $174 per year, significantly more affordable than most other types of insurance policies.

In contrast, homeowners pay an average of $1,272 yearly for homeowners insurance. However, the coverage limits are typically higher for homeowners insurance policies because they cover more property, including the structure of the home. Renters insurance doesn’t cover the home’s structure, but it does pay out for possessions, liabilities, and living expenses due to loss of use.

The average value of a renter’s belongings is $30,000 for a two-bedroom apartment, which is an astronomical sum for many people. About 48% of renters are under 30 years old, many living in apartments in high-cost-of-living areas like New York City and Los Angeles.

On average, 47% of renters spend nearly a third or more of their income on rent and utilities. Whether you’re just starting your career or enjoying retirement, keeping up with living expenses can be challenging, especially as rent prices rise each year. If you want to soften the financial blow in case the worst happens to your home, renters insurance is a must.

Typical renters insurance policies cover a wide range of incidents and disasters, including:

• Fire
• Smoke
• Theft
• Water damage
• Natural disasters
• Explosions
• Windstorms

At Insurdinary, we offer a simple, transparent solution to finding affordable renters insurance with the exact coverage you need. We help find suitable policies and compare rates from leading providers, so you get the best coverage.

About 55% of renters have renters insurance policies, which are available when you rent an apartment, townhouse, condo, or single-family home. Renters policies primarily cover possessions, including clothes, furniture, electronics, etc., but can also pay legal expenses for injury-causing accidents that occur on the rental property.

Some renters insurance plans include coverage for living expenses, such as hotel rooms, if your home becomes uninhabitable because of a covered accident. When you search for a renters policy, you’ll find options to include extra coverage for things that standard plans don’t cover.

You can also select various coverage limits, allowing you to choose higher limits if you have a lot of valuable possessions. If something happens to your property that your policy covers, such as a fire in your building, you can file a claim with your renters insurance provider. Providing photos and videos of your belongings and the damage will help support your claim.

If the insurance company approves your claim, you’ll receive reimbursement for expenses due to the damage. You'll pay for damage up to your policy's deductible. After that, your insurer covers the rest of the damage. For example, if you claim $1,000 of damage and your deductible is $250, you’ll receive $750.

Choosing the right renters insurance plan is vital for protecting your assets from unexpected costs due to accidents, natural disasters, theft, and liabilities. With so many options to select from, you might feel overwhelmed when comparing plans. At Insurdinary, we make the process as simple as possible so you can have peace of mind.

Our team has one goal: to help you find the best renters insurance at the best price. We can help you learn more about renters insurance so you can make informed decisions when choosing between policies. When you’re ready to start your search, we provide a fast, simple, and free solution to get quotes from top renters insurance providers.