Average Renters Insurance Cost and Requirements by State (2026)

Renters insurance prices vary with the address, coverage and insurer. The state table below uses one published rate study so the comparisons have a consistent basis. These are sample rates, not a Beagle quote or a guarantee of what a resident will pay.

Average renters insurance cost by state (2026)

NerdWallet's rate study reports $165 a year nationally, about $14 a month. Search the table for your state or sort it by price.

Source and methodology

We checked the September 23 edition on October 9, 2026. NerdWallet uses Quadrant sample rates and ZIP-code medians, rounding annual figures to $5. The profile is a nonsmoker with good credit in a two-bedroom apartment: $30,000 belongings, $100,000 liability, $10,000 additional living expenses, $1,000 medical payments and a $500 deductible, with exceptions where those limits are unavailable.

We calculate monthly equivalents by dividing each published annual figure by 12 and rounding to the nearest dollar. The annual column retains the original figure, so it may differ from twelve times the displayed monthly amount. We do not combine this table with studies that use different coverage assumptions. Read the source methodology for its sampling details and exceptions.

How to compare state averages with your quote

A statewide sample is a starting point for budgeting. It does not describe every address or every resident. To compare quotes, hold the property limit, liability limit, deductible and replacement-cost option constant. Then check exclusions, endorsements and payment fees.

The cheapest state in a study does not necessarily have the cheapest quote for a particular resident. Building characteristics, loss history and the insurers available at an address can change the result. The Insurance Information Institute also publishes historical renters-insurance statistics; those use different reporting years and should not be presented as current quotes.

Renters insurance requirements by state

Price and lease requirements are separate questions. A low-cost policy may still fail a lease requirement if the address, insured resident or liability limit is wrong. Before enforcing a requirement, confirm the lease, applicable state rules and any housing-program exemptions.

Oregon: coverage limits and exemptions

ORS 90.222 permits a written renters-liability-insurance requirement. Its ceiling is the greater of $100,000 per occurrence or the customary requirement for comparable rentals in the same market. The statute also sets notice and landlord insurance conditions and exempts certain income-qualified households and subsidized units. A flat $100,000 cap leaves out part of the rule.

Virginia: review the specific insurance arrangement

Virginia Code 55.1-1206 addresses landlord-required damage and renter insurance, including conditions on charges and alternatives. Check which arrangement the lease uses rather than treating every insurance-related fee as the same.

These examples are not a 50-state legal determination. For other jurisdictions, review the current statute and housing rules before changing a lease or enrolling residents. An insurer's treatment of a tenant in a property claim is a different question from whether a lease can require a resident policy.

What a property manager should verify

Match the resident and rental address, check the required liability limit and confirm the coverage dates. Keep a record of the verification and follow up on renewals or cancellations. Our compliance guide explains the workflow and how to handle exceptions.

A resident policy and a property liability waiver have different terms. Explain the base waiver and any optional contents protection separately. A coverage program should follow the lease and approved notices, not an assumption that every resident with missing paperwork has no insurance.

Coverage choices to compare

Personal property coverage pays for covered losses to belongings. Liability coverage addresses covered claims against the insured. Additional living expenses can help when a covered loss makes the home uninhabitable. Each has limits and exclusions, so compare the actual policy wording as well as the headline price.

Actual cash value and replacement cost

Actual cash value takes depreciation into account. Replacement-cost coverage uses the cost of replacing covered belongings, subject to the policy's settlement terms. Ask how a claim would be settled and whether replacement is required before the full benefit is paid.

Deductibles and discounts

A higher deductible can reduce the premium, but increases the amount a resident must cover after a loss. Compare any bundling or payment discount against the combined cost of the policies and fees. Request quotes with the same assumptions instead of applying a generic savings percentage to a state average.

Frequently asked questions

This article is general information, not insurance advice. Rates are estimates at the stated coverage assumptions, and requirements vary by lease, property, and jurisdiction; check your specific lease and state rules for what applies.