The cost of renter insurance for a 1 bedroom apartment can vary depending on several factors such as the location, coverage limits, deductible, and the insurance company. On average, the cost of renter insurance for a 1 bedroom apartment ranges from $120 to $190 per year. However, this is just an estimate and actual prices may differ based on individual circumstances. It's important to shop around and compare quotes from different insurance providers to find the best coverage at a competitive price.