It’s Affordable. The average renter’s insurance policy costs $187 a year, according to 2011 figures reported by the National Association
Eagle Group Agency | Snowy Houseof Insurance Commissioners (NAIC) in 2013.

Your actual cost will be determined by other factors like how much coverage you need, the type of coverage you choose, the amount of your deductible, and where you live. It covers losses to personal property.

A renter’s insurance policy provides coverage to your personal property such as clothes, jewelry, luggage, computers, furniture, and electronics.

If you don’t own much, it can quickly add up to an extravagant amount – certainly more than you’d want to pay to replace it.