How Much Is Renters Insurance?

Renters insurance is an important coverage for people who live in rental properties, as it can cover property damage or loss and protect from potential liability. According to the Insurance Information Institute, the average cost of renters insurance is around $15 per month, however it can vary depending on location, type of rental property and the amount of coverage chosen. Factors such as location, risk of natural disasters, type of rental property and amount of coverage all contribute to the final cost of the premium.

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