The cost of renter's insurance can vary depending on several factors, including the location of your rental property, the coverage amount, and the insurance company you choose. On average, renter's insurance can cost anywhere from $120 to $190 per year, but this can vary significantly based on individual circumstances. Factors such as the crime rate in your area, the value of your personal belongings, and the deductible you choose can all impact the cost of your renter's insurance. It's important to shop around and compare quotes from different insurance providers to find the best coverage at a competitive price. Additionally, bundling renter's insurance with other policies, such as auto insurance, may also lead to discounts. When considering renter's insurance, it's crucial to assess your specific needs and ensure that the policy provides adequate coverage for your personal property and liability protection. Consulting with an insurance agent or broker can also help you navigate the options and find the most suitable coverage for your situation.