A variety of factors can affect the cost of your policy, including:
Age: If you’re young and have less renting experience, a provider may charge you more money.
Location: If you live in a state with a higher cost of living and higher risk of natural disasters, your policy may cost more.
Claims History: If you have made a lot of insurance claims in the past, your renters insurance company may increase your rate, since you’re considered more risky to insure.
Building: If your building is older, you may be charged more because systems and appliances are more likely to fail and cause damage that will require you to file a claim.
Credit Score: If you have a poor credit score, your policy may cost more.