Cheapest Renters Insurance by State — 2026 Rankings

Renters insurance costs vary by nearly 3x across the United States — from just $101/yr in Alaska and Maine to $276/yr in Florida. The national average sits around $160/yr, or roughly $13/month. Below is the complete ranking for 2026:

**Tier 1 — Under $110/yr (cheapest)**: 1. Alaska — $101/yr 2. Maine — $101/yr 3. Vermont — $102/yr 4. North Dakota — $105/yr 5. South Dakota — $105/yr 6. Wyoming — $105/yr

**Tier 2 — $110–$130/yr**: 7. Idaho — $120/yr 8. New Hampshire — $120/yr 9. Wisconsin — $120/yr 10. New York — $125/yr 11. Delaware — $132/yr 12. Oregon — $132/yr 13. Utah — $132/yr 14. Washington — $132/yr

**Tier 3 — $130–$160/yr**: 15. Hawaii — $144/yr 16. Iowa — $144/yr 17. Nevada — $144/yr 18. Massachusetts — $150/yr 19. California — $155/yr 20. Indiana — $156/yr 21. Minnesota — $156/yr 22. Nebraska — $156/yr 23. New Mexico — $156/yr 24. Ohio — $156/yr 25. Pennsylvania — $156/yr 26. Virginia — $156/yr 27. West Virginia — $156/yr

**Tier 4 — $160–$200/yr**: 28. Arizona — $168/yr 29. Connecticut — $168/yr 30. Maryland — $168/yr 31. New Jersey — $168/yr 32. North Carolina — $168/yr 33. Rhode Island — $168/yr 34. Colorado — $174/yr 35. Illinois — $180/yr 36. Kansas — $180/yr 37. Kentucky — $180/yr 38. Missouri — $180/yr 39. Tennessee — $180/yr 40. Montana — $189/yr 41. South Carolina — $192/yr 42. Arkansas — $192/yr 43. Michigan — $192/yr

**Tier 5 — $200+/yr (most expensive)**: 44. Alabama — $203/yr 45. Oklahoma — $204/yr 46. Texas — $204/yr 47. Georgia — $213/yr 48. Mississippi — $223/yr 49. Louisiana — $266/yr 50. Florida — $276/yr

The cheapest states for renters insurance share common characteristics: low population density, minimal severe weather, low crime rates, and competitive insurance markets.

**1. Alaska — $101/yr ($8.42/mo)**: Despite its extreme climate, Alaska has remarkably low renters insurance costs. The state's low population density means minimal theft and vandalism. Severe weather is mostly cold-related (which damages buildings but rarely destroys personal property). Fire and earthquake are the primary renters perils.

**2. Maine — $101/yr ($8.42/mo)**: Maine's combination of low crime, minimal tornado/hurricane exposure, and low population density makes it one of the cheapest. Nor'easters can be destructive to buildings, but renters insurance claims tend to be modest.

**3. Vermont — $102/yr ($8.50/mo)**: Similar profile to Maine — rural, low crime, minimal severe weather. Vermont has one of the healthiest insurance markets in the country with strong competition among carriers.

**4. North Dakota — $105/yr ($8.75/mo)**: Cold winters and occasional severe storms, but low population density and low property crime keep renters premiums minimal.

**5. South Dakota — $105/yr ($8.75/mo)**: Nearly identical risk profile to North Dakota. Some hail exposure, but renters claims from hail are relatively rare (hail primarily damages roofs and vehicles).

**6. Wyoming — $105/yr ($8.75/mo)**: Sparse population, very low crime rates, and limited severe weather exposure beyond occasional hail and wildfire in rural areas.

The pattern is clear: states with fewer people per square mile, lower crime, and limited natural disaster exposure charge the least for renters insurance. If you live in one of these states, there's almost no excuse not to have coverage — at under $9/month, it's one of the best deals in personal finance.

At the other end of the spectrum, the most expensive states combine high natural disaster risk with other cost drivers like crime and litigation:

**50. Florida — $276/yr ($23.00/mo)**: Hurricane risk, high crime rates, and the same litigation-heavy environment that makes Florida's homeowners insurance ($7,900/yr) the nation's most expensive. The good news: even at $276/yr, renters insurance is far more affordable relative to homeowners than in most states.

**49. Louisiana — $266/yr ($22.17/mo)**: Hurricane exposure, severe flooding risk, and high litigation costs. Louisiana's overall insurance environment is among the most challenging in the country — homeowners average $6,100/yr.

**48. Mississippi — $223/yr ($18.58/mo)**: Hurricane risk along the Gulf Coast, tornado exposure inland, and high poverty rates (which correlate with higher crime and lower insurance uptake). Homeowners average $4,200/yr.

**47. Georgia — $213/yr ($17.75/mo)**: Hurricane risk in the southern and coastal regions, high crime rates in Atlanta, and severe thunderstorm exposure statewide.

**46. Texas — $204/yr ($17.00/mo)**: Hurricane coast, Tornado Alley exposure, severe hail, and flooding all contribute. Texas is essentially a buffet of natural disaster risk. Homeowners average $4,800/yr.

**45. Oklahoma — $204/yr ($17.00/mo)**: The heart of Tornado Alley. Severe hail and wind cause billions in annual losses. Even renters face displacement and property damage from these events.

**44. Alabama — $203/yr ($16.92/mo)**: Hurricane risk along the Gulf, tornado exposure statewide, and above-average crime rates.

**43. Michigan — $192/yr ($16.00/mo)**: Not a disaster state per se, but high crime rates in Detroit and Flint push the statewide average up. Severe winter storms also contribute.

**42. Arkansas — $192/yr ($16.00/mo)**: Tornado Alley exposure and severe storms. Similar risk profile to Oklahoma but slightly lower premiums due to lower property values.

**41. South Carolina — $192/yr ($16.00/mo)**: Increasing hurricane activity and coastal flooding. Charleston and Myrtle Beach face particular exposure.

The nearly 3x difference between the cheapest and most expensive states comes down to a few key factors:

**Natural disaster frequency**: States with regular hurricanes (FL, LA, TX), tornadoes (OK, KS), or severe hail see more claims — including renters claims for water damage, displacement, and lost property. Even though renters insurance doesn't cover the building itself, disasters destroy tenants' belongings and trigger expensive additional living expense claims.

**Crime rates**: Theft is one of the most common renters insurance claims. States with higher property crime rates see more claims and higher premiums. This is why urban-heavy states (Georgia, Michigan) rank higher than their disaster risk alone would suggest.

**Litigation environment**: States where insurance lawsuits are common (Florida, Louisiana) see those legal costs passed through as higher premiums — even for renters.

**State regulation**: Some states regulate insurance rates more heavily than others. California ($155/yr), for example, has relatively strict rate regulation that helps keep renters premiums below what the risk profile alone might dictate.

**Market competition**: States with many active carriers competing for business tend to have lower prices. Vermont, Maine, and Alaska all have healthy, competitive insurance markets despite their small populations.

**Cost of living**: Higher costs of living mean higher replacement costs for personal property, which can push premiums up in states like Hawaii ($144/yr — cheap by overall cost-of-living standards but above the median).

The bottom line: if you're in a cheap state, get renters insurance — it costs less than a streaming subscription. If you're in an expensive state, get renters insurance — the higher cost reflects higher risk, meaning you're more likely to actually need the coverage.

Regardless of your state, these strategies can reduce your renters insurance premium:

**Bundle with auto insurance**: This is the single biggest discount — typically 10–25% off both policies. In Texas, bundling renters ($204) and auto ($2,627) could save you $300–$500/yr combined.

**Raise your deductible**: Moving from a $250 to a $1,000 deductible can cut your premium by 15–25%. Only do this if you can afford to cover the deductible out of pocket.

**Install security devices**: Deadbolts, smoke detectors, fire extinguishers, and monitored alarm systems qualify for discounts with most carriers (5–15%).

**Maintain a clean claims history**: No claims in the past 3–5 years earns a significant discount. For small losses under $500, it's often cheaper to pay out of pocket than to file a claim and lose your discount.

**Pay annually**: Most carriers charge a $5–$10/month surcharge for monthly billing. Paying the full annual premium upfront can save $60–$120/yr on a $200/yr policy — that's a 30–60% effective savings.

**Choose replacement cost, not ACV**: This actually increases your premium slightly (5–10%), but the payout difference is enormous. A 5-year-old laptop worth $1,500 new might only get you $400 under ACV, but $1,500 under replacement cost. Always choose replacement cost.

**Ask about affinity discounts**: Alumni associations, professional organizations, employer partnerships, and membership clubs (AAA, Costco) often have negotiated insurance discounts.

For detailed state-by-state renters insurance data, visit our individual state pages or use our comparison tool to see how any two states stack up.