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What states have the most expensive rental insurance? - Chattanooga Times Free Press

Only about 37% of renters regularly buy renters insurance, compared to the 95% of homeowners who buy insurance on their home, according to the Insurance Information Institute. For a typical 2-bedroom apartment, the average American renter pays $180 a year, but rates are higher in the South due primarily to higher property crime rates and weather-related damages. What states have the least affordable renters insurance?

1. Mississippi, $258 a year with a mean monthly rent of $812.

2. Oklahoma, $236 a year with a mean monthly rent of $778.

3. Louisiana, $235 a year with mean monthly rent of $883

4. Alabama, 235 a year with mean monthly rent of $835

5. Texas, $232 a year with mean monthly rent of $1,065

6. Georgia, $219 a year with mean monthly rent of $1,038

7. Arkansas, $212 a year with mean monthly rent of $733

8. Tennessee, $199 a year with mean monthly rent of $879

9. New York, $194 a year with mean monthly rent of $1,536

10. Massachusetts, $194 a year with mean monthly rent of $1,629

Source: Insurify Insights based upon data released by the National Association of Insurance Commissioners (NAIC),. Across the country, the average cost of rent for a 2-bedroom unit is $1,080.

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What states have the most expensive rental insurance? - Chattanooga Times Free Press
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