How much is renters insurance for $100,000 in liability coverage?
The average cost of renters insurance with $40,000 in personal property coverage and $100,000 in liability insurance with a $1,000 deductible is $23 a month.
Your location, deductible and personal property coverage level are the three main factors that change your renters insurance rate with $100,000 in liability. The table below shows how monthly costs range from $16 to $31 depending on coverage level and deductible. Use the figures below to identify the combination that matches your situation.
The table below outlines what you can expect to pay based on the amount of personal property on the policy and the deductible, all with $100,000 in liability coverage.
| Coverage level | Average monthly cost | Average annual cost |
|---|---|---|
| $20,000 with $500 deductible | $17 | $209 |
| $20,000 with $1,000 deductible | $16 | $193 |
| $40,000 with $500 deductible | $24 | $294 |
| $40,000 with $1,000 deductible | $23 | $270 |
| $60,000 with $500 deductible | $31 | $378 |
| $60,000 with $1,000 deductible | $29 | $347 |
People ask
Is $100,000 liability coverage enough?
$100,000 in liability coverage is sufficient for most renters who have assets below $100,000 and no elevated risk factors such as a dog, a pool or frequent guests. Renters with assets above $100,000 or those in high-risk situations should consider increasing their liability limit to $300,000 or more to avoid personal exposure if a judgment exceeds their coverage.
Renters insurance cost for $100,000 in liability coverage by company
State Farm is the cheapest renters insurance company at $15 a month for $100,000 in liability coverage with $40,000 in personal property coverage. USAA offers renters insurance at $16 a month if you are eligible.
The table below highlights how much you can expect to pay for a renters insurance policy with $40,000 in property protection, $100,000 in liability coverage, and a $1,000 deductible at top renters insurance companies.
| Company | Average monthly cost | Average annual cost |
|---|---|---|
| State Farm | $15 | $186 |
| Progressive | $19 | $225 |
| Nationwide | $23 | $279 |
| Allstate | $22 | $264 |
| American Family | $24 | $287 |
| Farmers | $28 | $337 |
| Travelers | $40 | $486 |
| USAA* | $16 | $192 |
*USAA only provides coverage to military members, veterans and their families.
How much is renters insurance with $100,000 of liability in your state?
As with most types of insurance, your location is a key factor in determining your renters insurance rates.
The table below includes different rates for each state, each with $40,000 in personal property protection and a $1,000 deductible.
| State | Average monthly premium | Average annual premium |
|---|---|---|
| Alaska | $21 | $246 |
| Alabama | $31 | $369 |
| Arkansas | $32 | $385 |
| Arizona | $21 | $252 |
| California | $23 | $278 |
| Colorado | $17 | $205 |
| Connecticut | $25 | $300 |
| Washington, D.C. | $22 | $265 |
| Delaware | $16 | $194 |
| Florida | $17 | $203 |
| Georgia | $28 | $335 |
| Hawaii | $20 | $235 |
| Iowa | $17 | $200 |
| Idaho | $15 | $181 |
| Illinois | $23 | $274 |
| Indiana | $21 | $247 |
| Kansas | $20 | $241 |
| Kentucky | $16 | $195 |
| Louisiana | $47 | $558 |
| Massachusetts | $18 | $210 |
| Maryland | $20 | $239 |
| Maine | $16 | $194 |
| Michigan | $38 | $454 |
| Minnesota | $18 | $210 |
| Missouri | $19 | $226 |
| Mississippi | $34 | $404 |
| Montana | $22 | $264 |
| North Carolina | $36 | $427 |
| North Dakota | $15 | $184 |
| Nebraska | $25 | $300 |
| New Hampshire | $12 | $148 |
| New Jersey | $18 | $221 |
| New Mexico | $15 | $185 |
| Nevada | $21 | $247 |
| New York | $26 | $311 |
| Ohio | $20 | $234 |
| Oklahoma | $24 | $283 |
| Oregon | $23 | $273 |
| Pennsylvania | $25 | $298 |
| Rhode Island | $46 | $549 |
| South Carolina | $24 | $292 |
| South Dakota | $16 | $195 |
| Tennessee | $24 | $291 |
| Texas | $18 | $211 |
| Utah | $19 | $228 |
| Virginia | $21 | $254 |
| Vermont | $14 | $164 |
| Washington | $19 | $231 |
| Wisconsin | $14 | $171 |
| West Virginia | $19 | $226 |
| Wyoming | $11 | $130 |
Top 5 most expensive states for $100,000 in liability coverage: Renters insurance
Louisiana and Rhode Island residents pay the most for renters insurance, at an average cost of $47 per month. Here are the five most expensive states for renters insurance:
- Louisiana: $47/month
- Rhode Island: $46/month
- Michigan: $38/month
- North Carolina: $36/month
- Mississippi: $34/month
Top 5 least expensive states for $100,000 in liability coverage: Renters insurance
Wyoming residents pay the least for renters insurance coverage, at an average cost of $11 per month. Here are the five least expensive states for renters insurance:
- Wyoming: $11/month
- New Hampshire: $12/month
- Vermont: $14/month
- Wisconsin: $14/month
- Idaho: $15/month
Renters insurance cost for $100,000 in liability coverage by credit profile
- Renters with excellent credit histories pay an average of $17 per month for insurance.
- Renters with a poor credit history pay an average of $71 per month for coverage.
- Credit can be used in most states to calculate insurance rates.
The table below illustrates how renters with different credit histories see different rates for a renters insurance policy with $40,000 in property protection, $100,000 in liability coverage and a $1,000 deductible.
| Credit history | Average monthly premium | Average annual premium |
|---|---|---|
| Excellent | $17 | $204 |
| Good | $23 | $270 |
| Fair | $30 | $363 |
| Poor | $71 | $853 |
What does $100k in renters liability insurance cover?
Renters liability insurance with a $100,000 limit pays for injuries to others, damage to others' property, and legal defense costs for covered incidents on or off your property, up to the policy limit. Specifically, it covers:
- Injuries to others for which you are responsible, on or off your property
- Damage to the property of others for which you are responsible, on or off your property
- Injuries or property damage caused to others by a child or pet
- Injuries or property damage to others anywhere in the world
- Certain costs beyond the liability limit, including costs to defend you in court
Liability insurance will not cover:
- Costs above the $100,000 limit, except as outlined in your policy; court and some other costs are not included in the limit
- Any injuries or damage caused by a motor vehicle accident
- Intentional damage or injuries
People ask
What if I don’t have enough liability coverage?
If you don't have enough liability coverage to pay a settlement, you will be responsible for any costs above your liability limit.
How much renters insurance do you need?
The amount of renters insurance you need depends on the replacement value of your personal property, the value of your assets and your exposure to liability risk. To calculate your personal property coverage:
- Add a replacement cost endorsement to ensure your policy pays current replacement value"
- Take an inventory of all personal belongings and add up their replacement cost today, not what you paid for them
- All of your personal property, including everything from your TV to the dishes in your kitchen.
- High-value items beyond the limits on property like jewelry, art and musical instruments
- Your assets in the form of liability coverage
To determine how much coverage you need, take an inventory of all of your personal belongings and add up their value if you had to replace them today, not what you paid for them. To ensure your renters insurance protects you for the replacement cost of your property, add a replacement cost endorsement to your policy.
Why do landlords require $100k in liability insurance?
Landlords require $100,000 in liability coverage to ensure that if a tenant causes injury or property damage, the tenant's insurance, not the landlord's policy, pays the claim. Most landlords set $100,000 as the minimum because it covers the most common liability scenarios. Landlords carry their own liability insurance for negligence on their part; your policy covers negligence on yours.
It's important to note that landlords also carry their own liability insurance, and if the negligence is on their part, caused by something for which they are responsible, that would fall on their policy.
Methodology
We collect our data in partnership with Quadrant Information Services, which fielded renters insurance rates in all 50 states and Washington, D.C.
Unless otherwise noted, averages are based on:
- $40,000 in personal property coverage
- $100,000 in liability coverage
- $1,000 deductible
- Good credit
Learn more about our data and methodology.
FAQ: Renters insurance for $100,000 liability coverage
How much is renters insurance for $100,000 in California?
A renters insurance policy with $100,000 of liability coverage costs an average of $23 per month in California. This is for a policy with $40,000 in property protection and a $1,000 deductible.
What is the minimum coverage for renters insurance?
There is no minimum required renters insurance coverage. Most renters insurance policies come with a minimum of $100,000 in liability coverage, and personal property coverage typically ranges from $10,000 to $75,000 or more. As a starting point, choose personal property coverage equal to the replacement cost of your belongings and liability coverage equal to or greater than your total asset value.
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