Renter's insurance costs vary depending on several factors, including the location of the rental property, the coverage amount, and the deductible. According to the National Association of Insurance Commissioners (NAIC), the average cost of renter's insurance in the United States is around $180 per year, but this can fluctuate significantly based on individual circumstances. Factors such as the crime rate in the area, the value of personal belongings, and the chosen coverage limits can all impact the cost of 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 lead to discounts. Overall, the cost of renter's insurance is influenced by a variety of factors, and individuals should carefully consider their specific needs and budget when selecting a policy.