Renters
Renters Insurance: What It Covers and Why It Costs So Little
Renters policies protect personal property, liability, and additional living expenses. See typical premiums and what landlords require.
6 min · Published March 1, 2026
What renters insurance covers
HO-4 policies cover belongings from theft, fire, and many perils. Liability coverage helps if a guest is injured or you accidentally damage someone else's property. Loss-of-use coverage pays temporary housing if your unit is uninhabitable.
Typical costs
Nationwide averages often fall between $15 and $30 per month for $30,000–$50,000 contents limits. Urban markets like New York City may run higher; Midwest cities often land lower.
Landlord requirements
Many leases require proof of renters insurance with minimum liability limits. Listing your landlord as an interested party ensures they receive cancellation notices.