The cost of renters insurance varies based on factors like location, coverage amount, deductible, and the insurance provider. On average, renters insurance typically ranges from $10 to $30 per month. Basic coverage usually includes protection for personal property against theft, fire, vandalism, and certain natural disasters, along with liability coverage in case someone is injured on the rented property. However, if you opt for higher coverage limits or additional endorsements, such as coverage for expensive jewelry or electronics, the cost may increase. It’s advisable to shop around and compare quotes from different insurance companies to find the best rate that meets your needs. Additionally, some insurers offer discounts for bundling renters insurance with other policies or for installing safety features like smoke detectors or security systems in the rented property.