Understanding the cost of tenant insurance is a crucial step in ensuring your belongings and liability are covered without breaking the bank. But what exactly can you expect to pay for this essential coverage? In this article, we’ll explore the average cost of tenant insurance, factors that influence the price, and why APOLLO Insurance is your best choice for affordable, comprehensive coverage.
On average, tenant insurance costs range between $15 to $30 per month. This translates to an annual premium of about $180 to $360. However, these costs can vary significantly based on several factors, which we’ll delve into next.
Location
The cost of tenant insurance can vary depending on where you live. Urban areas with higher crime rates might have higher premiums compared to rural locations.
Coverage Amount
The amount of coverage you choose for your personal belongings and liability will directly impact your premium. Higher coverage limits mean higher costs.
Deductibles
A higher deductible (the amount you pay out-of-pocket before insurance kicks in) can lower your premium, while a lower deductible increases it.
Additional Coverage
Adding riders or endorsements for high-value items like jewelry or electronics can increase your premium.
APOLLO Insurance stands out in the market for its affordability and comprehensive coverage options. Here’s why APOLLO should be your go-to provider for tenant insurance:
APOLLO Insurance offers some of the most competitive rates in the industry. Our advanced technology platform streamlines the process, reducing overhead costs and passing the savings onto you.
With APOLLO, you can tailor your tenant insurance policy to suit your specific needs. Adjust coverage amounts, choose your deductibles, and add any additional coverage you might need – all through an easy-to-use online platform.
Our online portal makes it simple to get a quote and purchase a policy. Our website provides an intuitive interface where you can input your details, receive an instant quote, and buy your policy in minutes.
APOLLO Insurance prides itself on providing excellent customer service. Our support team is always ready to assist you with any questions or concerns, ensuring a smooth and hassle-free experience from start to finish.
Our extensive coverage options protect your personal property, provide liability protection, and cover additional living expenses if your rental home becomes uninhabitable due to a covered expense. With APOLLO, you get peace of mind knowing that you’re fully protected.
APOLLO offers effortless insurance to help keep your apartment safe. Get a free quote in less than a minute and we’ll send your policy documents right to your inbox.
Originally published July 16, 2024, updated July 17, 2024
Back to APOLLO MagazineGet no-nonsense coverage that's the best value for your money. Purchase policies from your computer or phone, receive your documents instantly, and save when you buy online.
4.7 rating
Get no-nonsense coverage that's the best value for your money. Purchase policies from your computer or phone, receive your documents instantly, and save when you buy online.
4.7 rating
Just tell us your address, your name, email and phone number. And that's it. We'll give you a price in less than a minute.
You can choose to pay monthly or save money by paying for the entire year in one easy payment.
As soon as you complete your purchase, you'll find your proof of insurance and policy documents waiting for you in your inbox.
We’ve provided more than 1,000,000 quotes to Canadians just like you. Give it a try!