How Much Is Renters Insurance A Year? 
Renters Insurance is by far one of the most cost effective insurance policies available , and can be purchased for as low as $ 10 a month or less . The cost varies based on several key factors . First , the amount of Personal Property coverage the insured requires . To choose the amount of coverage that is right for you , consider the Personal Property coverage would protect every item you brought with you or purchased since you moved into the location . Second is the amount of Personal Liability coverage the insured requires . This portion of the policy protects the insured should they be held liable for personal injury to someone else or to another individuals property . The third factor would be type of coverage , with the choice between Contents Replacement or Actual Cash Value . In a nutshell , Actual Cash Value policies pay LESS per item for any loss , since they factor in depreciation and current value of an item , where Contents Replacement only considers how much was spent on the item to purchase it originally . Finally , the amount of deductible on the policy will also play a role in determining how much the insured will pay per month . The higher the deductible , the lower the monthly payments . 