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  • I just graduated from college and am renting my first apartment. How much should I expect to pay for renter's insurance?
Sep 21 2009 2:58 PM

I just graduated from college and am renting my first apartment. How much should I expect to pay for renter's insurance?

Renter's insurance is much less expensive than home insurance. On average, it costs less than $200 per year.

The insurance your landlord may have won't cover your personal belongings or liability. You need your own renter's policy to stay safe from unexpected events such as natural disasters, fallen trees, theft, or a lawsuit from a visitor who gets injured while in your home. When you consider the coverage you get, renter's insurance is an inexpensive financial safety net that every renter should have.

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Laura Adams is a personal finance expert and award-winning author who is Senior Insurance Analyst for InsuranceQuotes.com. She represents Bankrate Insurance’s web properties in the media and works as an advocate to make sure consumers protect their financial futures by having the right kinds of insurance.

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