Average Renters Insurance For 2 Bedroom Apartment
Cover Your Property, Belongings & More. Quote Online and Get Insured Today! The cost of renters insurance is $326 a year, or about $27 a month. That's the national average renters insurance cost for a policy with recommended coverage levels of $40,000 for personal property, with a $1,000 deductible and $100,000 of liability protection, according to an Insurance.com rate analysis. Depending on the state you live in, the average cost of renters insurance can vary between $12 and $37 per month (or $139 to $442 per year). Depending on your state, an average policy could cost twice what you would pay for the same coverage elsewhere.
You may think your things aren't worth much, but the average person has over $20,000 worth of stuff. Stuff that's probably not covered by a landlord's policy. This chart shows an example of typical personal property replacement values for a two-bedroom apartment. Your values may run more or less. The average cost of renters insurance for an apartment is $187 per year, or about $16 per month. However, the quotes you see will depend on a lot of factors including your coverage limits, deductible, and any extra protections you choose. Understanding these factors can help you get coverage that's both affordable and tailored to your apartment. You can anticipate paying about 20% more a year for landlord's insurance than you would for homeowner's insurance, which would theoretically bring the average cost of a landlord's policy nationwide to $1300 a year. Unfortunately, there is no average cost for landlord insurance. The amount of renters insurance you should get varies from person to person and will affect your premiums, but on average a renters insurance costs just $15 a month and can offer you tens of thousands of dollars worth of protection, making it a smart buy for any renter.
The national average price of renters insurance is about $187.00 annually, or about fifteen dollars a month. While it's not quite that cheap in Georgia, it's quite affordable. The average costs of Georgia renters insurance for apartments run just a little less than twenty dollars a month, or around $225.00 for the year. Average Cost of Renters Insurance. The bottom line is that renters insurance is often not terribly expensive. Many experts put an average somewhere near $30 per month, or one dollar a day. One national agency puts the average renters insurance cost as low as $12 a month for $30,000 of coverage. Factors in Renters Insurance Costs One person living in a studio will use a lot less energy than a family of four living in a two bedroom apartment. For a typical household, an average utility bill ranges from $103-$191 a month depending on the state you live in. To save on this bill, invest in energy-efficient products, like energy star labeled appliances or LED light bulbs.
For a typical one bedroom apartment with no A/C or heater usage, your electricity bill will likely be around $30-$50. The Cost of Air Conditioning If your apartment comes equipped with an air conditioner, know that the cost of running it can add up quickly. According to the Independent Insurance Agents and Brokers of America, Inc. (IIABA), the average renters policy costs just $12 a month for up to $30,000 in personal property coverage. That's solid coverage for less than the cost of a few cups of coffee a week. Here are some tips to help you determine your insurance needs. Average condo insurance costs by state. To give you an idea of what you can expect to pay, enter your state in the search box below. Insurance.com commissioned Quadrant Information Services to field rates for nearly every ZIP code in the country among six major insurers. You'll see average condo insurance rates, for common coverage sets.
Weighing the Cost of Content Coverage: Deductibles and Limits According to Insurance.com, the national average cost of a renters insurance policy covering liability and personal property with a coverage limit of $100,000 and a $1,000 deductible is about $27 per month, or $326 per year. Further, the cost of renter's insurance depends on the insurance company selected. With that said, the average cost for renter's insurance is about $16 per month. In San Francisco, the average cost... The average renters insurance policy costs between $120 and $190 a year. These basic policies generally offer $25,000 personal property coverage, $100,000 liability coverage, loss-of-use coverage and a $500 deductible, though those numbers are just ballpark figures and your particular insurance policy's basic coverage may be different.
Renters may pay about 20 percent of rent on utilities. If you have roommates, this cost may go down to about 10 percent. (It pays to live with others!) To give you an idea, here are some average numbers for how much apartment utilities cost each month: Electricity: $70 (excluding air/heat/stove) Air conditioning: $65 (averaged over the year) But the National Association of Insurance Commissioners reports that the average renter's insurance premium costs as little as $15-$30 a month. According to Esurance Inc. [ 2 ] , for instance, for a two-bedroom apartment with $35,000 of property loss coverage, a $500 deductible, $100,000 in liability coverage and $1,000 for medical expenses ... Worters says that according to the National Association of Insurance Commissioners' data the average policy cost just $184 per year, a figure that works out to a little more than $15 per month for...